Caltech has launched a privately endowed program for providing funding directed towards the development of Caltech technology to a point suitable for commercialization. The program was created to spur solutions to challenging problems that can be translated into products and services for the benefit of society. Although the activities of CI2 are not limited to any particular area, energy and green technologies, information technology, neuroscience, biomedicine, biotechnology, and nanomaterials applied to the foregoing are areas that have been emphasized.
Up to four awards will be funded in this round of competition depending on the number and quality of proposals and the mix of Innovation Grant (I-Grant) and Enhanced Grubstake (e-Grubstake) awards.
The I-Grant program is focused on providing basic and translational research grants to faculty for concepts that address solutions to significant technological challenges so as to promote the economic, political, and physical well-being of U.S. citizens, the Caltech community, and the world at large. I-Grant awards are intended to provide support for up to two years with up to $250K in total funding (2 x $125K) with the second year of funding based on a competitive renewal at 10 months.
The e-Grubstake program, an extension of the current Grubstake program, will provide “gap” funding to advance promising projects to the prototype stage. For example, I-Grant funded projects could receive additional funding under the e-Grubstake program to support prototype development. However, e-Grubstake awards will not be limited to projects funded by an I-Grant. Funding levels for the e-Grubstake program will be commensurate with individual project needs (keeping in mind that current Grubstake program awards are typically $50K).
The application period for 2013 is now closed. Awards will be announced at the late February 2013.