We will use a startup investment model to spur innovative and collaborative research to solve grand challenges.
We will pilot, iterate and scale up three innovative funding mechanisms that support research throughout its development.
- Clusters and Themes Initiative (up to $25k): These seed investments are meant to kickstart an idea that is earlier-stage or has not yet taken definite shape. It is intended for faculty with similar expertise or interests to break down boundaries and organize.
- Research Accelerator Initiative (up to $250k): A one-time infusion of funds to get a mid-stage idea off the ground. It is similar to angel investors or accelerators in a startup funding model in that it provides a jumpstart.
- Blue Sky Initiative (up to $2.5M over 3 years): An investment to advance a transformational idea that is high-risk, high-reward. The goal is not to launch a company, but to eventually secure external investments to develop and expand the concept. (Blue Sky news article; Blue Sky overview)
Fall 17: Request for proposals
2018: Pilot Program Rollout
2018 – 19: Evaluate new proposals
Late 2019: Overall program assessment
2020: Make program modifications as needed