Technology Commercialization Fellowship
The Technology Commercialization Fellowship is an in-depth, fast-paced year long program designed to expand participant's knowledge base in business and technology transfer within the university setting. Through a diverse program which includes formal training, research, direct interaction with entrepreneurial firms and self-study, the program will equip participants with the entrepreneurial tools needed to commercialize new technology.
Each fellow will be assigned a mentor – normally an individual with entrepreneurial experience in the relevant industry. The mentor will be with the fellow through the entirety of the fellowship to assist the fellow and push him or her to identify issues of concern or potential growth.
After completing the fellowship, the participant will have the key elements of his or her business in place. These elements would include: securing additional capital (through Small Business Innovation Research (SBIR) grants, angel investors, bank financing or others sources), the completion of a business feasibility study, establishing a network of contacts with accounting, legal, marketing and financial professionals, identifying potential entrepreneurial partners, and gaining hands-on experience by working in 2-3 technology-based start-up companies.
The Technology Commercialization Fellowship is a year long appointment. Accepted fellows will receive annual compensation in the amount of $50,000.
Each fellow will receive quarterly honorarium payments of $12,500 payable to the fellow's respective business. The fellow will then be responsible for managing the funds to pay payroll and other business expenses including office supplies, lab supplies, equipment rental, travel expenses or other operating costs.
Fellows will be required to establish a business account prior to the starting date of the fellowship. The program coordinator will be able to assist fellows in establishing the business account.
Each fellow will be supplied with adequate office space and lab space, as needed. Shared office space for fellows will be located at the ISU Research Park to encourage interaction among fellows. Wet lab space will be secured for participants, as needed.
Applicants must possess a discovery or business proposal that has significant commercialization potential. They must also demonstrate a strong degree of commitment for their project.
Qualified applicants must hold an advanced degree. Post doctoral students, those who are nearing completion of their Ph.D., and select Masters degree applicants may apply. Iowa State University faculty would also qualify for the fellowship program.
Phase I: Applicants should submit a written application that will outline the applicant's qualifications and the idea to be pursued. The written summary of your business concept should clearly state how your discovery or service is distinguishably different from competitors currently in the market. The application should also include three letters of recommendation and a copy of the applicant's vita.
Phase II: Applicants should prepare an oral presentation about their business concept. This presentation will be given to an Advisory Panel comprising of business and university professionals.
Phase III: Based on the written and oral presentations, the candidate will be evaluated for selection into the Fellowship Program.