Funding Cycle Open for Innovation Works' Technology Commercialization Proposals in Robotics, Advanced Electronics

PITTSBURGH, April 8, 2013 /PRNewswire-USNewswire/ -- Innovation Works is accepting proposals for the latest funding cycle of the Technology Commercialization Initiative (TCI), a statewide effort to commercialize Pennsylvania's university research and/or corporate innovation in robotics and advanced electronics.  A total of $800,000 is eligible in multiple awards with a maximum award amount of $100,000 per project.  TCI is supported by The Discovered in Pennsylvania, Developed in Pennsylvania grant program.  Discovered in PA, Developed in PA is devoted to increasing economic opportunity in the commonwealth by seeding innovative ideas that promote entrepreneurship, technology transfer, business outreach, and increased capacity.

Researchers and other technologists can find the Request for Proposals for Innovation Works' Technology Commercialization Initiative at http://www.innovationworks.org/OurPrograms/TechCommercializationInitiative/RFP/tabid/324/Default.aspx).  IW will host a webinar on Friday, April 19^th, at 1pm to review the submission/review process and answer any questions.  The IW website will list call-in details for the webinar. 

Proposal submission follows a two-step process, with an initial draft proposal due Friday, May 24, 2013 followed by a final version due Friday, July 26, 2013.  Both submissions are required to be considered for an award. IW staff will provide quick, high-level feedback to individual proposers on their draft submissions.  Conditional award announcements will be announced in September.

Early-stage companies, university/company collaborations, and established companies across PA are encouraged to submit projects in the general areas of advanced electronics and robotic technologies.  Funding for the accepted proposals is in the form of a convertible note.  The detailed term sheet for the note and the due diligence requirements are also available for download on the Innovation Works website.  Matching funds are strongly encouraged on each proposed project.

Innovation Works is the Ben Franklin Technology Partner of Southwestern PA (BFTP).  A network of four regional centers across the state, BFTP is one of the nation's most successful technology-based economic development programs.  Since 1982, BFTP has provided early-stage and established companies in Pennsylvania with funding, business assistance and access to a valuable network of experts and other resources to help grow state's technology economy.

SOURCE Innovation Works, Inc.