Funding Criteria

Objectives

1. 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.
2. 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.

Scoring

Market Need

• 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 Merit

• 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

Commercialization

• There is a clear understanding of who is the targeted customer, what the unmet need is, the size of the market (patients) and what the pathway to commercialization is
• The commercialization value proposition is clear, robust, and compelling
• There is a clear collaborative pathway to transfer know-how and technology from inventors to the commercialization or industry partner

Intellectual Property

• 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.