Proof of Concept Program
In 2013, Drexel launched the Dragon Proof of Concept Program to support research projects that enhance the commercial potential of promising new Drexel technologies, processes, or services. The program is modeled on Drexel’s successful Coulter-Drexel Translational Research Partnership program, which supports the development of life saving biomedical technology solutions. The Dragon Proof of Concept Program supports the development of technologies that are not eligible for the Coulter program. Research in the Dragon Program builds on existing research results, funding feasibility studies, basic prototyping, and testing to provide proof that the technology is capable of addressing industrial or societal needs. This kind of research has proven to be a very effective means of transitioning University ideas into the private sector for the creation of new products. Indeed, Drexel’s Coulter program has resulted in the successful licensing of nearly half of all funded projects.
Application for funds occurs via a two-step process. Interested investigators submit a one-page white paper detailing their technology, the industrial or societal need and their proposed solution. Regional investors and entrepreneurs review white papers, and a subset is selected to submit a full five-page proposal. Regional partners review these proposals as well, and successful teams are selected to receive up to $100,000 in funding.
During the Dragon Proof of Concept Program’s inaugural round, more than thirty white papers were submitted for consideration, representing a broad array of research from across Drexel, including advanced materials, pharmaceuticals, psychological tools, energy and apps. Ten projects were selected for full proposal submission, and they are currently under review. Funding is anticipated at the beginning of September.
The second round of the Dragon Proof of Concept Program is planned for launch in early Winter, 2014.
For more information, please contact Dr. Robert McGrath at 215-895-0303 or firstname.lastname@example.org.