The Bill L. Harbert Institute for Innovation and Entrepreneurship at the University of Alabama at Birmingham (UAB) has established a $500,000 Innovation Fund to bridge the gap between ideation and commercialization.
The fund will support the development of early-stage discoveries and promising new university startups. Beginning January 1, 2019, UAB investigators whose research has demonstrated commercial potential may apply for up to $35,000 in funding to further develop technologies.
“The Innovation Fund builds on the university’s research, innovation and economic development strategic mission pillar,” said UAB President Ray L. Watts. “Our local innovation ecosystem is more promising than ever, and this program provides another way UAB research can continue to support the Birmingham startup pipeline.”
The Institute is launching the fund with an initial $500,000 investment and is hoping to grow the program over time through reinvestment of future revenue from portfolio sales and fundraising. Applications will be accepted each spring and fall at uab.edu/innovation.