The Science Commercialization Fellowship will support faculty members who are at the early stage of creating a spinoff company. Recipients will form the foundation for a group of researchers who can benefit from shared mentorship while receiving recognition and funding support for their commercialization efforts.
- Maximum of two fellowships awarded per year.
- Fellowship can be held for two years and is not renewable.
- Fellowship funded to a maximum of $60,000 in total (paid out at $30,000/year over two years).
- Faculty of Science tenured and tenure-track professors are eligible.
- Cannot be held at the same time as a Research or Teaching Fellowship.
- Must have an existing spin off company that the applicant wants to grow.
- Eligible expenditures include: one course teaching reduction per year (subject to Chair approval), hiring of resources for spin off activities (HQP), marketing expenses, materials and supplies, conference costs, patent costs, leveraged funding to other government programs, administrative costs, etc.
- Funds to be used for leveraging of existing government funding programs (e.g. NRC-IRAP) to bring in a minimum of 50% of the Fellowship funds as matching money.
- No cash payback required.
- Application submission date: April 20, 2017 and January 15, 2018
- Applications are judged based on the quality of the nominee and their proposal.
- Nominations come from the Department Chair. An application consists of a one-page justification for the request from the Chair, a business plan written by the nominee, and the CV of the nominee.
- Applications are to be adjudicated by the Dean, Vice Dean, Associate Dean (Research) or delegate, and industry member.
- In exceptional cases, the adjudication committee can consider an application outside the normal deadline process.
- Final report detailing the impact of the Commercialization Fellowship on the spinoff company, an objective assessment of the current state of the company, future plans for the company, and a summary of how the Commercialization Fellowship funds were spent.
- Second year of fellowship conditional on review at the end of year one.
- Mentoring of one colleague on spin off activities required after completion of the fellowship
- One presentation to student entrepreneurs required.