MTRAC Innovation Hub Managers Visit Michigan Tech Oct. 11
Every year Michigan Tech hosts a faculty trip to Washington, D.C. to meet program managers for various funding agencies. On Oct. 11 program managers for the four Michigan Translational Research and Commercialization (MTRAC) Innovation Hubs will come to Michigan Tech to promote funding opportunities within the network.
John Diebel, the Michigan Tech MTRAC Commercialization Program Manager (CPD) says, “This is an excellent opportunity as we have scheduled time for interested faculty to have one-on-one conversations with the CPDs of the different programs. How often do program managers travel to Houghton to discuss funding opportunities?“
At noon on Oct. 11, Innovation and Industry Engagement will host an informal lunch with the MTRAC CPDs in the conference room of the Great Lakes Research Center at Michigan Tech.
Starting at 1 p.m., each of the four Hub managers will make presentations explaining their programs and list Oversight Committee members. Afterward, the CPDs will remain available for discussions with individuals about how their technology might fit into the program. Denise Graves, who manages the program state wide for the Michigan Economic Development Corporation (MEDC), will also be available to answer questions.
The various MTRAC Innovation Hubs accept applications from Michigan universities, hospitals and research institutions to advance the pace of commercialization in Applied Advanced Materials (Michigan Tech), Advanced Transportation (University of Michigan), Ag/Bio (Michigan State University) and Life Sciences (University of Michigan MTRAC Life Sciences Hub).
The visit is designed to highlight that with the creation of the Innovation Hubs researchers can now apply for funding statewide and are not limited to Hubs hosted at their home institution. The primary eligibility requirements are that an invention disclosure is on file with the home institution and that one-to-one matching funds are available. The use of funds directly advances the technology toward commercialization through the successful completion of sequential milestones intended to de-risk the project for subsequent follow-on-funding from other sources.
MTRAC programs statewide to date have funded 134 projects, helped develop 21 start-up companies, created 54 jobs, secured $72.8 million in follow-on funding, and licensed technology to 17 industry partners.
Proposals are reviewed by an independent oversight committee, consisting of industry experts and experienced venture fund managers. These experts remain available to advise the projects during the course of the funding. The level of funding and proposal cycles varies from Hub to Hub and will be explained in detail during the meeting.
RSVP to John Diebel at email@example.com with CPD Luncheon in the subject line if you would like to attend this luncheon with the program managers at no charge. It is not necessary to attend the luncheon to attend the presentations beginning at 1 p.m. Call John Diebel (7-1082) with any questions on the program.
Funding for MTRAC originates from Michigan's 21st Century Jobs with grants to the Michigan Strategic Fund and are administered by the MEDC.