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Commercialization of Innovative Product to Address Unmet Market Need

This application seeks funding for the commercialization of an innovative product that addresses a large unmet need in the market. The project aims to provide a comprehensive solution and offers significant competitive advantages. The proposal includes a detailed business plan, milestones, budget collaboration, and strategies to mitigate risks. The project has potential economic impact and job creation opportunities. The application concludes with a summary highlighting the key reasons why the project should be funded.

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Commercialization of Innovative Product to Address Unmet Market Need

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  1. (Project Title) Application and Presentation to the Project Management and Oversight Panel Application due January 10, 2019

  2. Lead investigator name University Department Contact Information Collaboration Partners Lead investigator name University Department Contact Information Industry leader name Company Title Contact Information Funding Requested: Sourcing of matching funding:

  3. Executive Summary • What is the large unmet need? • What is the product or service to be commercialized? • What is the business opportunity? • What is the timeline to commercialization?

  4. Unmet Need and Market • Who is the customer? • What is the unmet need or problem? • What is the size of the market?

  5. Proposed Solution • What is the product or service to be commercialized? • What is the value proposition? • How does this solution compare with the next best solution?

  6. The Business / Project • What is the business definition? • How much capital will be required to reach cashflow break even? • What are the key elements for success?

  7. Risk Factors • Describe major risk factors to the success of this business / project. • How will these risks be mitigated?

  8. Milestones and Budget

  9. Collaboration • What expertise does party bring to this project? • What are the synergies of this collaboration? • How will the collaboration be managed? • How will be parties be held accountable for results? • How will the funds be allocated amongst the partners?

  10. Competitive Advantage • Who is the competition or potential competition? • What are your competitive advantages? • How will you keep competition from replicating your business / products? (Barriers to entry: patent portfolio, proprietary knowhow, current intellectual property, etc.)

  11. Intellectual Property • Describe current IP status: issued patents, patent applications, freedom to operate • Describe the patent strategy going forward

  12. Economic Impact • What follow-on funding will be required to commercialize this technology? • What are the probable sources for that funding? (NIH, STTR/SBIR, Angel funding, venture capital, corporate partnerships, etc.) • What is the plan to secure follow-on funding? • Describe the potential for job creation as a result of project funding (first 2 years; and 2-4 years)

  13. Commercialization & Marketing • What is your commercialization plan? • What is your regulatory plan? • What is your reimbursement plan? • What is your distribution plan?

  14. Summary • What are the key reasons this project should be funded?

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