In 2022, the Center for Medical Innovation (CMI) introduced the CMI Pathways Program. The goal of this program is to strengthen the development of medical innovations at Penn State College of Medicine through a team-based approach that addresses downstream requirements, including intellectual property, regulatory and reimbursement issues, and business case development to facilitate the technology’s transition to the private sector and the formation of startup companies. To support these efforts, the CMI Pathways Program introduced two new funding mechanisms, the Proof of Concept Award and the Innovation Accelerator Award, which are detailed below.
CMI Proof of Concept Funding Program
The objective of the Proof of Concept funding (non-dilutive) is to identify translational research and early-stage technologies that are addressing an unmet medical need to rapidly develop them through a milestone-driven process that will generate data needed to apply for follow on funding opportunities.
Proof of Concept Awards will support applied research. Applications should focus on drug therapeutics; diagnostics that can change the standard of care; medical devices; digital health technologies; and combinations thereof, which promise substantial improvement in human health and commercial potential.
Cross-college and/or business collaborations are eligible for this award.
2022 Application deadline: July 15, 2022 by 5 p.m. (EST)
CMI Innovation Accelerator Award
The objective of this award is to support College of Medicine Primary Investigators accomplish milestone-driven success towards commercialization of an innovative technology. Projects will receive funding and business development support by partnering with the CMI team in advancing the technology through the duration of the award.
Medical innovations considered within project scope include: drug therapeutics, medical devices, diagnostics with ability to change standard of care, and digital technologies.
Cross-college and outside university and/or business collaborations are eligible for this award.
2022 Application deadline: April 15, 2022 by 12 midnight (EST)
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Regional Funding Opportunities
Bioadvance provides funding to start-up life science companies in southeastern Pennsylvania through its $20 million Greenhouse Fund. Investments are made in therapeutics, devices, diagnostics and platform technologies focused on human health.
Ben Franklin Technology Partners provides early stage technology funding and business support services to emerging tech-based start-ups and existing manufacturers in a 32-county footprint.
The Fujirebio Germinator Program is provided by BioStrategy Partners, Inc. (BioSP), a 501c3 nonprofit organization whose mission is to advance translational life sciences research and technology transfer within the academic research enterprise, and Fujirebio Diagnostics, Inc, a proven pioneer in the diagnostic industry. The Germinator Program is a unique program to facilitate industry-academic collaborations via a customized sponsored research process.
Proposals are invited in one of the following areas: New Protein Biomarkers for Solid Tumors; Biomarkers for Neurodegenerative Diseases; and New Assays for Biomarker Detection.
Please See RFP (link below) for more information on the program, dates and diagnostic areas of interest. The initial non-confidential application is a single page (see link below). Selected applicants will then be invited to present to Fujirebio Diagnostics later in the Spring.
2023 Application deadline: send to CMI by Jan. 6, 2023, by 12 midnight (EST)
Life Science Greenhouse of Central Pennsylvania is a public/private venture whose mission is to commercialize bio-science technologies. It provides direct early-stage investment, targeted business development services and connections to strategic partners.
Innovation Partnership is a consortium of economic development and business assistance organizations located throughout the Commonwealth of Pennsylvania. Its goal is to help early-stage technology companies in Pennsylvania secure federal funding opportunities through SBIR/STTR Awards.
The aim of the Science Center QED Award Program is to provide comprehensive guidance and development to research that is working to achieve proof of concept prior to potential formation of a company. The QED program awards up to $200,000 to fund winning projects.
Science Center Digital Health Accelerator (DHA) helps guide innovations ready to transition from research and development to sales by providing funding, collaborative workspace, professional mentorship and introductions to key healthcare stakeholders and investors. Participants are accelerated from prototype development to customer acquisition.