Flinn Scholars News

ASU introduces fund to commercialize technologies

Summary:

Arizona State University has created a $300,000 fund to help faculty innovators commercialize their discoveries. The ASU Innovation Fund will provide resources for faculty to prove their concept and develop a working prototype—a step that typically lacks adequate funding. This will improve the chances of attracting corporate licensing or creating a spin-off company.

Full Story:

Arizona State University has created a $300,000 fund to help faculty innovators commercialize their discoveries.

The ASU Innovation Fund will provide resources for faculty to prove their concept and develop a working prototype—a step that typically lacks adequate funding. This will improve the chances of attracting corporate licensing or creating a spin-off company.

"Money from the ASU Innovation Fund will fill an important gap in the commercialization process," says Peter Slate, chief executive officer of Arizona Technology Enterprises (AzTE), ASU's nonprofit tech-commercialization arm. "We anticipate the fund will help to make ASU technology more attractive to commercial partners."

The fund involves a partnership among AzTe, ASU Research Park, and ASU. Officials of the three groups comprise an investment board that will oversee funding decisions.

The funds, to be administered by AzTE, come from Proposition 301 sales tax and ASU Research Park. The average investment per project is expected to be between $25,000 and $50,000.


For more information:

"ASU fund will help faculty commercialize its research," Arizona Republic, 03/13/04

Arizona Technology Enterprises

ASU Research Park