Tech Launch Arizona's Asset Development funding helps advance inventions that aren’t yet ready to attract licensees or investors. In executing an Asset Development plan, we validate an invention's market potential and requirements and ready it for commercialization.
Asset Development (AD) projects often involve creating a prototype, confirming functionality, exploring scalability, etc. If a UA technology merits funding, our staff and network of experts work with its inventors to shape a full AD proposal, including activities, budget and timeline.
Following AD work, all stakeholders meet to discuss outcomes, ensure a thorough understanding of the commercialization factors and, if appropriate, identify next steps, including additional connections and resources. For promising outcomes, TLA continues to work with inventors to advance the technology for licensing to an existing company or as the basis for a startup.
Here are some basic things you should know:
- Awards are non-competitive; each invention is assessed on its own merits
- Assessing projects for awards involves bringing technologies to TLA's team of professionals and domain experts, identifying the opportunities as well as pitfalls, and then bringing that information back to the inventor to help formulate the scope of work
- Technologies eligible for traditional research support are not eligible for AD awards
- Technologies already ready for external investors are not eligible for AD awards
- AD projects are divided into milestones, with incremental funding awarded as milestones are met
- AD funds are only awarded for UA IP; any IP arising from awarded projects will be assigned to the Arizona Board of Regents
Eligibility for Projects
Four factors are prerequisites for a TLA feasibility study:
- The technology has been formally disclosed to TLA
- The technology is not yet licensed or optioned
- Primary inventor is a UA employee
- If the technology is jointly owned, an agreement exists designating the UA as lead institution
Apply for Asset Development Funding
To apply for an AD project, work with your Licensing Manager to create a proposal. Some things that your conversation with your Licensing Manager will cover:
- A description of the project and desired outcomes.
- What are the potential markets and who are the projected customers?
- What are the existing solutions and how is this one different?
- To achieve these outcomes, what is your approximate cost and timeline?