The UIC Chancellor’s Innovation Fund (CIF)
Proof of Concept Awards program is a two-phased program that awards up to $185,000 per project to advance technology originating at UIC.
The CIF has been established at UIC by the Office of the Chancellor in partnership with the Innovate@UIC team (IllinoisVENTURES and Office of Technology Management) to support the commercialization of technology developed by faculty, staff and students at UIC.
Proof of Concept Awards Program
The POC Awards Program will be conducted once yearly in the fall with $1,000,000 per round available for projects. In Phase I, innovators may receive up to $35,000 and have 6 months to complete a single, key milestone. Once complete, the Phase I awardees must submit a final report in order to be considered for Phase II funding where awardees may receive up to $150,000 and have 12 months to complete additional commercially significant milestones. Final awardees for each phase are selected by an external panel of venture capitalists, industry experts and business leaders.
Process for Fall 2016 Phase I
TThe process for the upcoming Fall 2016 Phase I CIF POC Awards Program will begin with Pre-Proposal submissions due by 5PM CST on September 30th, 2016. The Pre-Proposal Review Committee will then review and select finalists from the pool of applicants. Finalists will be brought in to meet with members of the IllinoisVENTURES, EnterpriseWorks Chicago and Office of Technology Management teams for a project planning meeting and mock pitches as they prepare for the full proposal submission in PowerPoint presentation format due on January 16th, 2017. Finally, the Phase I Program will culminate in a slide presentation to a panel of venture capitalists, business leaders and industry experts on the Final Pitch Day where the awardees will be selected for funding. Awardees will be notified within 48 hours of final decision.
2016 Fall POC Awards Program Documents:
2016 Fall POC Awards Program
September 30th, 2016 - Pre-Proposals Due
Week of December 15th, 2016 - POC Finalists Announced
Week of January 16th, 2017 - Final Pitch Day
Week of February 1st, 2017- POC Winners Announced