Funding Overview and Application Instructions
Deadline: February 15, 2017
Application Portal: http://umichcoulter.infoready4.com/
Funding Overview
The objective of the University of Michigan Coulter Translational Research Partnership Program (Coulter Program) is to bring medical innovations into healthcare through a commercial entity. As such, projects funded through Coulter will need to demonstrate:
· Clearly envisioned medical product concepts with high potential for healthcare impact
· Scientific merit leading up to the proposed translational research proposal
· Translational research plans to de-risk key technical hurdles and address commercial questions
· Strength and expertise of the interdisciplinary faculty partnership
· Industry or investor interest
· Clear path to company formation with angel or venture capital funding or to direct licensing of technology IP by a medical device, pharmaceutical, or diagnostics company who completes development and commercialization of the envisioned product
Proposals demonstrating the ability to meet these objectives will receive greater consideration for funding.
It is strongly suggested that applicants discuss their proposal with the Coulter Program Director Thomas Marten (; (734) 647-1680) prior to submission to explore the commercial potential for your project and fit for Coulter funding opportunities.
Eligibility Requirements
· Coulter-funded projects require Co-PI collaborations between at least one faculty healthcare provider (physicians, nurses, or dentists) and at least one College of Engineering faculty member.
· Only permanent, full-time faculty in the professorial ranks (assistant, associate, full or research) at the University of Michigan may apply.
· The translational research project must relate directly to the development of new products with applications in healthcare.
· The objectives of the project should include milestones that provide technical and commercial de-risking to generate professional investor or licensee interest.
Funding Submission Packet
Applications are being accepted through Competition Space: http://umichcoulter.infoready4.com/
Funding application submission packets must contain the following four (4) documents (proposal, budget spreadsheet, references/literature cited, and NIH-style biosketches) submitted as separate documents. The budget must be sumitted in excel spreadsheet format. Applications are due by 5pm on February 15, 2017.
Details for Application Materials:
1. Proposal (7 pages, 10 pt. font minimum)
a. Please follow the research proposal template which can be downloaded on Competition Space: http://umichcoulter.infoready4.com/
2. Budget Spreadsheet (.xls format)
a. Please follow the budget template and submit the budget as an excel spreadsheet. The template can be downloaded on Competition Space: http://umichcoulter.infoready4.com/
b. Projects are funded for 1-year time periods at ~$100,000
i. Requests for larger amounts should be discussed with Thomas Marten, Coulter Program Director (CPD).
ii. Seed grants £ $25,000 will be considered for projects requiring finite achievements (i.e. generation of data or a prototype necessary to apply for subsequent translational funding).
c. Allowable budget expenditures include: salary and fringe benefits for project personnel, materials and supplies, equipment, and pre-negotiated travel. Salary requests need to be justified based upon effort.
d. Budget line items for outside consultants (i.e. regulatory assessment, market research and prototype manufacturing) are allowable, but will be managed through the Coulter CPD short code.
e. The clinical co-PI must be included in the budget and his/her budget percentage MAY be cost-shared with the clinical department. Typically, 5% to 10% of a clinical collaborator’s salary is budgeted, of which up to half will be charged to the Coulter grant and at least half will be cost-shared with the clinical department.
f. Combined co-PI salaries and benefits should not exceed 20% of the total project budget.
g. Tuition for graduate students is allowable based on graduate student effort level on the project. Large tuition line items on budgets are discouraged. See budget template for additional details.
h. Large capital purchases are prohibited. Funds may not be used for construction or renovation.
i. A department signature is required on the bottom of the budget for any cost share commitment.
3. References/Literature cited
a. References/Literature cited should be included as supplemental material in a separate document.
4. NIH-style Biosketches
a. Biosketches for PIs and key personnel involved in the project should be included as supplemental material in a separate document.
Application Review Process
· Proposals are due on February 15, 2017
· Proposals will be initially triaged by Coulter Program Management, and successful candidates will be invited to prepare a brief, 5-minute PowerPoint Presentation to pitch their ideas to the UM Coulter Oversight Committee on March 2, 2017.
· Finalists will be notified by mid-March as to whether they will be invited to participate in the C3i (Coulter College Commercializing Innovation) program, an 8-week commercialization planning program (see below).
Michigan C3i (Coulter College Commercializing Innovation) Planning Program
The objective of the Michigan C3i Program is to help Coulter proposal applicants build their full proposal and pitch deck, as well as answer three fundamental questions:
1) Does their envisioned product address a true unmet clinical need that health care providers and payors are willing to solve?
2) Is there a viable business opportunity?
3) Will the proposed research derisk the project to the point of generating investor or industry interest in the product concept?
These are the same questions that the Coulter Oversight Committee will have in mind when evaluating project pitches for funding at the Coulter Project Selection meeting.
C3i is designed to provide Coulter Proposal Teams with the specialized business frameworks and essential tools for successful translation of biomedical technologies from lab to market.
Teams are guided through a series of lectures and interactive exercises, pressure-testing commercial viability of ideas using universal business criteria as well as the unique requirements of biomedical product commercialization. Teams will also work with medical device industry business development directors, outside regulatory and reimbursement consultants, venture capitalists, and IP attorneys who provide insights into the market sector, new product planning, IP, regulatory, and reimbursement requirements specific for their projects.
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