The UIC Chancellor’s Innovation Fund (CIF)
is a hybrid proof of concept and equity investment fund with an expected commitment of $2 million per year for 5 years..
The CIF has been established at UIC by the Office of the Chancellor in partnership with IllinoisVENTURES 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 twice yearly with $500,000 per round available for projects. Grants of up to $75,000 will be awarded for selected projects. To be eligible for funding, projects must be based on a UIC invention that has been disclosed to the Office of Technology Management. We highly encourages faculty inventors to schedule a meeting with their OTM Tech Manager and IllinoisVENTURES to discuss their proposed project prior to submitting a Pre-Proposal Application. This meeting will help generate ideas for creating a competitive proposal and will also allow for a discussion on whether a project or technology may be too early-stage for POC Awards funding.
Equity Investment Fund
IllinoisVENTURES was ranked #1 in gap funding for third-party capital and has spent a decade turning university-derived technologies into profitable businesses. To date, companies funded by IllinoisVENTURES have raised almost $600 million in third party capital, employ over 600 people, and are having a significant global and econoomic impact.By injecting an additional $1 million per year for the next 5 years into IllinoisVENTURES, the UIC Chancellor’s Innovation Fund will provide a much-needed boost to seed funding toward transformative university research and innovation.
Whats New with CIF?
September 4, 2013
UIC Chancellor's Innovation Fund POC Awards Program is now accepting Pre-Proposal Applications for this year's second round of funding
September 3, 2013
The UIC Chancellor’s Innovation Fund is very pleased to announce the granting of the first round of 2013 Proof of Concept Awards Program winners... read more
POC Awards Program: Documents
POC Awards Program:
OCT 2013 - POC 2013 First round of Funding Released
03 OCT - Pre-Proposal Application Submission Deadline
21 OCT - Invitation to Submit Full Proposals
21 NOV- Full Proposal Application Submission
WEEK of DEC 9 - Finalist Selection Meeting
WEEK of DEC 16 - Winners Announced
JAN 2014 - Funding Released / Projects to Start