Only complete applications received through the link below will be considered. To apply please submit your proposal before the deadline on August 14th, 2023 (2400 PST).
Clarification – Phase One funding covers 18 months. Both the proposal and budget should account for an 18 month period.
Application Links
Key Dates
Submission deadline: August 14th, 2023, 2400 (PST)
Invitations for Pitches sent to qualifying applicants: September 2023
Pitch Presentations Scheduled: Mid to Late September (Official dates TBA)
Final Announcement of Winners: Late September to Early October
Selection Criteria
Proposals will be evaluated based on the following criteria:
- Scope of unmet medical need
- Novelty of approach
- Fit of proposed solution to unmet medical need
- Quality, validity and robustness of data
- IP status
- Feasibility of development (budget and time)
- Suitability of team
Selected applicants will be invited to present their proposals in front of an expert panel in Mid to Late September 2023.
Please Note: A substantial data package, describing the previous findings of the project, is a clear requirement for the application. Next to basic information about the applicants, information to be supplied in the application includes but is not limited to brief descriptions of:
- Applicant credentials
- Problem and unmet medical need
- Solution/invention, how it is unique and how it addresses the unmet medical need
- Current stage of the project including previous data
- Suggested development plan including milestones Go/No-Go criteria and budget
- Information about the intellectual property situation
- Commercial potential and competitors
Budget, Duration and Milestone-based Funding
Projects chosen for Phase One are funded with up to $150,000 for a duration of 18 months. We encourage you to carefully evaluate your 18-month project plan and include only work packages and expenses which are important for the successful validation and completion of Phase One work packages and milestones. Work packages for Phase One should not extend beyond 18 months.
Phase Two chosen projects will be funded for an amount up to $1,000,000. We understand that Phase Two proposed work packages, milestones and budget may be further refined as Phase One progress is achieved.
Please describe the specific steps needed to commercialize your product or alternative paths towards market and/or patient. These steps may vary widely depending on the area of the product or solution you are working on and its current developmental stage.
The OLF’s goal is that at the end of the Phase One funding period, chosen projects will be able to achieve one or more of the following:
- Positive review of the invention disclosure by the technology transfer office (TTO)
- Patent application submitted
- Secure additional funding for further development steps in the academic setting
Please describe all steps (including budget) that you consider vital in order to achieve one of these outcomes. Suggest critical milestones at which the project can be evaluated regarding its continuation. Please note that before a final funding decision is made, the entire project plan as well as milestones and budget will be evaluated together with you by external experts and may be adjusted.
Project funding is strictly milestone-based. The funding will be released consecutively in a milestone-dependent manner and project progress will be monitored continuously. If it is determined at any point during the project that the project goals cannot be met anymore, the project funding will be discontinued. Only those costs which are directly related to the project, which will be agreed to in a Milestone Funding Agreement and which will be detailed in a corresponding budget table will be funded. Any future changes to work packages and/or milestones must be discussed with and agreed to by the OLFMD Advisory Board.
Review and Expert Advice
Each project selected for funding will work according to milestones and progress metrics to ensure the project’s steady progress. A project progress presentation and meeting will be held approximately every 6 months where investigators receive input on their progress and challenges. Milestones will be reviewed and adjusted, and project teams will receive continued input and advice from experts who have signed a confidentiality agreement.
Obligations
Please note that the PI must report to OLFMD Advisory Board if deviations from the information given in the application occur during the application process and during the entire funding period. This applies to, but is not limited to, changes concerning the team (e.g. contracts), changes regarding the IP situation or resources for the project (e.g. funding). After project completion, and/or after discontinuation of the OLFMD support, a final report must be prepared and delivered by the funding recipients.
Owen Locke Foundation 