Funding Sources for Otago Researchers
Funding plays a vital role in advancing academic inventions from the laboratory to the marketplace. Academic institutions, like Otago, are often hotbeds of ground-breaking research and intellectual property generation. However, without sufficient funding, these inventions may remain confined to academic circles, limiting their potential impact on society.
The right funding serves as a catalyst, enabling academic inventions to undergo rigorous development, testing, and commercialisation processes. It provides the necessary resources to conduct further research, refine prototypes, secure intellectual property rights, and navigate regulatory hurdles. Additionally, funding can help establish partnerships with industry experts, access specialised expertise, and market the inventions effectively.
Otago Innovation has Three Specific Funding Programmes
By leveraging Otago Innovation’s funding programmes, academic inventions gain the necessary support to transform into real-world solutions, benefitting both the inventors and society as a whole.
$50K Activator Fund
A non-contestable fund created to “activate” marketable projects with commercial potential. The fund can provide up to $50,000 in support for innovative or early-stage inventions (this covers IP and commercialisation costs; of which up to $35,000 can be utilised for additional research, if research is necessary). Each application is reviewed on a case-by-case basis. As this is an annual event, each year has defined open and close dates.
$100K Proof of Concept Competition
This is an fantastic opportunity for Academics, Postdocs and PhD candidates to test their commercially prospective ideas in front of an expert panel of mainly external judges. The winner of the Grant will receive $100,000 to help further validate their idea.
Funding for Advanced Commercial Projects (120K+)
Appropriate for advanced commercial technologies that have solid early research findings but require significant funding to become investor-ready. Ideal for “smart-idea” type programmes that demonstrate excellent commercial opportunity. Non-contestable, assessed case-by case basis on a first-come, first-served basis. This programme has a limited budget.