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New programs augment the resources and support for research commercialization at NYU. Three part program for faculty, PhD students, postdocs, and researchers offers training, mentorship, and $50,000 in commercialization grants to select Mark & Debra Leslie Fellows.
Over the last decade, NYU has been home to dozens of successful startup ventures that originated from innovations developed in our research labs, including Benevir, BioDigital, Cytodel, Clarifai, Ephemeral Tattoos, Medivis, Spheryx, Spin Memory, State Space Labs, and TouchCo, to name a few.
Each NYU venture brought innovative technologies to market, serving different customers in different industries. They identified and validated a scalable business model to serve their target customers, with the active participation of an NYU faculty member, PhD student, postdoc and/or researcher who invested the time and effort to help get the venture off the ground.
This Fall, the Entrepreneurial Institute is introducing a new series of programs to help launch the next generation of NYU-technology based ventures: the NYU Technology Venture Program (TVP). The TVP will fund and support technology commercialization by teams of NYU faculty, PhD students, postdocs, and researchers . Participating teams are eligible to receive grant funding of over $50,000, and will be immersed in the evidence-based commercialization best practices embraced by venture capitalists, startup accelerators, and federal agencies including the NSF, NIH, DOD, and others. Teams will leave the program having identified and validated a scalable and repeatable business model, being well positioned to attract additional entrepreneurial talent to their team, having received pro-bono legal counsel and incorporation services, having built a network of investors and entrepreneurs with the NYC startup ecosystem, and ready for SBIR/STTR funding and/or angel/seed financing.
The TVP has three constituent parts or phases: The Technology Venture Workshop, Technology Venture Launchpad and the Technology Venture Accelerator. Each offers increasing levels of training, mentorship and funding, to support teams as they explore and validate the viability of their venture and their own entrepreneurial capacity.
The first phase of the TVP is the Technology Venture Workshop (TVW), a three half-day immersive program where NYU faculty, PhD students, postdocs, and researchers begin to learn how to test the commercial potential of their research directly with customers and partners. Participating teams receive a $1,000 grant for prototyping and customer discovery, and upon completion are eligible to apply for the NSF I-Corps program and/or the Technology Venture Launchpad program (more below). The TVW is offered four times a year with approximately 10-15 teams per cohort. There is no prerequisite, and teams of two or more may apply on a rolling basis. The next TVW will run on the mornings of May 7, 14 and 21, and applications are due no later than 5:00 PM ET on Thursday, April 22. Apply now!
The second phase is the Technology Venture Launchpad (TVL), a two-month intensive program immersing teams in business model development and customer discovery. Similar to the NSF/NIH I-Corps programs, teams will "get out of the building" and interview dozens of their target customers and partners as they search for and validate the critical elements of their business model. The cohort will meet at least weekly as a group, and each team will meet at least once each week privately with a member of the teaching team. Participating teams receive a $10,000 grant for prototyping and customer discovery, and upon completion, are eligible to apply for the Technology Venture Accelerator (see below). Selected grant recipients will be designated Mark & Debra Leslie Fellows. The TVL is offered one or two times a year with approximately 12-15 teams per cohort. Teams that have participated in the Technology Venture Workshop may apply. The first cohort will run in the Fall of 2021. Exact dates TBA.
The third phase is the Technology Venture Accelerator (TVA), a six-month program to help teams that participated in the Technology Venture Launchpad or NSF/NIH I-Corps who validated a scalable and repeatable business model. The TVA follows on the Technology Venture Launchpad or I-Corps programs with funding, continuing education and mentorship from startup investors and entrepreneurs to address the implementation and execution of the venture’s business model. Topics covered include SBIR/STTR and venture funding, legal and intellectual property, regulatory matters, sales and marketing, hiring and retaining talent, and engineering and manufacturing, among others. The cohort will meet twice monthly as a group, and each team will meet at least once a month with a member of the teaching team and with an external mentor. Participating teams receive up to $40,000 in milestone-based grant funding for additional technology and product development. Selected grant recipients will be designated Mark & Debra Leslie Fellows. The TVA is offered once a year with approximately 8-10 teams per cohort. Teams of two or more that have participated in the Technology Venture Launchpad or NSF/NIH I-Corps programs may apply. The first cohort will run in the Winter/Spring of 2022. Exact dates TBA.
More information about both the Technology Venture Launchpad and Technology Venture Accelerator will be forthcoming over the Summer of 2021.
Sign up for our monthly Deep & Bio Tech @ NYU newsletter to be among the first to know when applications are open. Or, better yet, if you haven’t already participated, sign up for the May 2021 Technology Venture Workshop today! Applications are due April 22. Apply now!
For more information, please visit our website at entrepreneur.nyu.edu, or send us an email at entrepreneur@nyu.edu.
