Story excerpt provided by The Plain Dealer
Written by Karen Farkas
The University of Akron has received a $300,000, three-year grant from the National Science Foundation to help students turn research into commercially viable projects.
The university was designated by the federal foundation as an I-Corps site, to allow students to work with faculty and a business mentor from outside the university to test and demonstrate the marketability of their innovation before seeking additional investment.
UA will train at least 90 teams of students, faculty and business executives in a new model of critical analysis to determine whether commercialization of their innovative idea, product, or service is worth pursuing.
Teams will then apply for federal and state grants, seek business sponsors and ultimately form a company.
"What distinguishes an I-Corps startup from a typical university startup is the way it leads researchers toward a new way of thinking about market needs . . . rather than fixating on the technology they've developed," Barry Rosenbaum, senior fellow at the University of Akron Research Foundation, said in a news release.
Read the complete article >