Any significant change in the project scope or work should be submitted in writing to the advisory board for discussion and approval
No more than $20,000 or 10% of the total funded amount (whichever is greater for each funded year) may be used for capital expenditures or equipment
The award may only be used for direct project expenses with no more than 10% used for institutional overhead. Any institutional overhead paid should be calculated after deducting the cost of capital equipment purchases
The award may be used to cover salaries for post-docs, PRAs, technicians etc. equivalent to the percentage of their time/effort devoted to the project
The award may not be used for PI salary, travel, meetings, professional fees or publication fees
Confidentiality & Disclosure Agreements to protect applicant submissions and information must be signed by each person on the review committee
The Owen Locke Foundation, board members and review committee members may claim no rights whatsoever to Intellectual Property (IP) contained in any submitted or funded proposals
Principal Investigators are encouraged to confer with their home institution technology transfer office for guidance on all aspects of IP
Awardees should take measures to ensure protection of any IP in accord with Federal and institutional requirements
Owen Locke Foundation 