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

“This is exactly the kind of program that will add to our region’s commercialization infrastructure,” says Tom Morr, President & CEO of Select Greater Philadelphia, which is governed by the CEO Council for Growth. “Greater Philadelphia has no shortage of technologies with commercialization potential. We were pleased to see the Science Center build upon the recommendations of the report to fill an important gap in technology transfer efforts. QED is a great way for the region to enhance its R&D profile.”

The QED Program (from the Latin “Quod Erat Demonstrandum” – “that which is demonstrated”) is a comprehensive proof-of-concept research opportunity for commercialization of early-stage life science technologies being developed at academic research organizations in the Greater Philadelphia Region. It will integrate four elements that are critical to successfully and efficiently performing early-stage proof-of-concept technology assessments: grant funding, business advice, market drivers and guidance to exit.

The goal of QED is to focus existing regional resources to retire business risk in early-stage life science R&D projects and to attract follow-on investment. QED will catalyze cooperation among institutional stakeholders that seek to accelerate the development of technologies in research organization labs, and pull these technologies into the marketplace.

The Science Center is expecting applicants from all 10 participating institutions. After the initial proposals have been reviewed, 10 proposers will be invited to submit a full application to the Program. Later in the summer, three of these will receive $200,000 each in funding. The scientists will have one year to establish commercial potential.

About The Science Center
The University City Science Center accelerates technology commercialization, regional economic development, and the market availability of life-enhancing scientific breakthroughs by bringing together innovations, scientists, entrepreneurs, funding, laboratory facilities, and business services. Established in 1963 and headquartered in Philadelphia, PA, the Science Center was the first, and remains the largest, urban research park in the United States. It provides services that range from incubator space with fully-equipped laboratories and “plug ‘n play” offices for entrepreneurs to path-breaking programs designed to demonstrate, nurture, and sustain new technology businesses and bring their benefits to the region and the world. For more information about the Science Center, visit www.sciencecenter.org.