University City Science Center Launches Proof-of-Concept Funding Program

PHILADELPHIA, April 7, 2009 — The University City Science Center, in collaboration with key academic research partners, has launched a program to bridge the funding gap between research grants and private seed investment. The QED program will support proof-of-concept research projects related to life science technologies with high commercial potential in the healthcare industry. Researchers at selected academic institutions in the Greater Philadelphia Region have been invited to apply for up to $200,000 in funding for projects to be completed over a 12-month period.

The Science Center kicked off the QED program on April 7, 2009 with a request for White Paper proposals that was sent to 10 institutions, including Children’s Hospital of Philadelphia, Drexel University, Lankenau Institute of Medical Research, Rutgers University, Temple University, Thomas Jefferson University, University of Delaware, University of Pennsylvania, University of the Sciences in Philadelphia, and The Wistar Institute.

The QED program grew directly out of recommendations in the CEO Council for Growth’s “Accelerating Technology Transfer in Greater Philadelphia: Identifying Opportunities to Connect Universities with Industry for Regional Economic Development Study,” of October 2007, which cited the funding gap between research grants and seed money.

The tri-state Greater Philadelphia Region is a center of excellence for biomedical and life science research, as indicated by the amount of federal dollars awarded, and the number of peer-reviewed articles published. However, as the Accelerating Technology Transfer study points out, more opportunities exist for the region to fully capitalize on its potential by commercializing early stage life science technologies at its research institutions.

“Our region has enormous breadth and depth of life science technology. However, we’re not meeting our potential when it comes to commercializing these technologies,” says University City Science Center President & CEO Stephen S. Tang. “That’s where QED comes in. It’s a coordinated effort to help demonstrate technology potential earlier in the R&D cycle.”