Proof of Concept Review and Discussion Groups
TUCSON, Arizona (June 18, 2013) - Representative of the University of Arizona’s heightened emphasis on technology development and commercialization, Tech Launch Arizona (TLA) is conducting technology discussion and project review groups for the first Proof of Concept Program cohort.
TLA introduced the Proof Of Concept Program at the UA in fall of 2012 to help investigators test one or more critical technical or commercial dimensions of the technology, moving it closer to commercialization. Many promising inventions and discoveries can languish in the lab undeveloped or delayed due to a lack of funds. POC specifically targets technologies that are no longer eligible for lab or traditional research funding, but are not yet developed enough to attract outside investors. This program is the first of its kind at the University of Arizona and represents an important aspect of the new institutional support for technology development and commercialization.
The Proof of Concept (POC) program is part of TLA’s Wheelhouse™ efforts to support UA Faculty and is being organized by Sherry Hoskinson, Director of Commercialization Networks. The TLA POC program was inaugurated with nineteen total awards made to UA Faculty in December. Each of these projects received Proof of Concept award averaging almost $40,000, with the funds dedicated to testing a discrete element of the technology’s performance or commercial viability. In the June review sessions, the investigator(s) will present on their technology, describe POC project progress over the past five months, and discuss outcomes and potential commercialization opportunities.
The presentations are populated with TLA staff, domain experts, business development professionals, and investment specialists. The purpose of the sessions will be to expose individual technologies to informed, interested people and get feedback; generate discussion; generate interest; make connections; and inform forward progress on the technologies.
The outcomes of the Proof of Concept projects will help Faculty to identify requirements for further refinement of their technologies, and work with TLA staff to map potential paths to commercialization.