The Bill. L. Harbert Institute for Innovation and Entrepreneurship at The University of Alabama at Birmingham has established a $500,000 Innovation Fund to support the development of early-stage discoveries and promising new university startups.
Jan. 1, 2019, UAB whose research has demonstrated commercial potential may apply for up to $35,000 in funding to further develop technologies, including creating prototypes, conducting critical life science experiments, completing software coding or user interface development, initiating beta testing and researching customer demand and market validation.
UAB President Ray L. Watts states, “The Innovation Fund builds on the university’s research, innovation and economic development strategic mission pillar. 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.”
Initial funding opportunities will be offered on a competitive basis and governed by a milestone-driven approach to ensure discoveries progress through development. Awards will support two district phases of commercialization: the bridge funding phase of applications development inside the research institution and the seed stage phase of company establishment.