Objectives of the Process:
- To fund innovative, collaborative, translational research projects that elevate the level of sponsored research and have the potential to significantly improve human health and create high value jobs in the Commonwealth.
- To develop a process which is robust, objective, and defendable as to design and execution and which yields powerful collaborations that produce world class technologies, products and services.
This translational research project addresses a large unmet need and it can lead to significantly improving human health.
- Medical/Life science need (clinical)
- Innovative/Breakthrough Technology
- Competitive advantage over other approaches
- Size of market
Level of Collaboration
- This project encompasses substantive real collaboration between and among Virginia research universities and industry
- There is a defined process to manage the collaboration including clear accountabilities, an internal communication plan and a methodology to declare and solve breakdowns
- The collaboration has true synergies that will ensure creative debate, innovation, and the achievement of critical mass
- Scientific and technical feasibility
- Stage of technical development
- Scientific and technical expertise/credibility
- The project technology is superior to competing approaches
- Scientific and product development milestones and timelines are clearly defined
- There is adequate evidence that resources (financial and human) are adequate to achieve the timelines
- There is a clear understanding of who is the targeted customer, what the unmet need is, the size of the market (patients/$s) and what the pathway to commercialization is
- The commercialization value proposition is clear, robust and compelling
- The technical solution is significantly scalable to achieve the commercialization objectives
- There is a clear collaborative pathway to transfer know-how and technology from inventors to the commercialization or industry partner
- The intellectual property portfolio and patent strategy are adequate to provide barriers to entry and to obtain freedom to operate
- The applicable technology transfer office of the universities are aligned with the goals of the project and the proposed licensing terms will not be a barrier to commercialization
Management and Leadership
- The management and scientific team have the expertise and will allocate the necessary time to achieve the goals
- If there is a gap in the management or scientific team, there is a milestone plant to recruit the talent needed
Follow On Funding and Economic Development
- The project is well positioned to attract follow on funding for the next stage of development and ultimately funding for commercialization
- Economic impact and job creation for Virginia
The Scorecard used by our judges is available for download here
. In addition to the information provided on this page, it also shows how points are divided among each scoring criteria.