A new “Gap” or “Proof of Concept” fund is being launched to provide resources to assess market needs and the potential for promising new university inventions, thanks to $1 million of funding support from the Michigan Economic Development Corporation (MEDC). The University Early Stage Proof-of-Concept Fund program known as ADVANCE was approved by the Michigan Strategic Fund with oversight by the MEDC. ADVANCE is being administered by Michigan State University on behalf of all the universities in the state of Michigan. Each university’s tech transfer office can apply for up to $40,000 of funding, providing the conditions of the program are met, including a 1:1 match for the funding requested.
