A new internal funding program is aimed at moving translational research and innovation into real-world solutions more quickly
Vanderbilt is introducing the Innovation Catalyst Fund, a new internal funding program sponsored by Chancellor Daniel Diermeier, Provost and Vice Chancellor for Academic Affairs C. Cybele Raver and Vice Chancellor for Finance and Information Technology Brett Sweet. The program is aimed at moving translational research and innovation into real-world solutions more quickly.
Inspired by the university’s growing innovation capacity, faculty entrepreneurship and record commercialization output, as well as by recent feedback gathered from faculty, the Innovation Catalyst Fund offers pre-seed funding to faculty from all disciplines across VU and Vanderbilt University Medical Center. The money is to be used to assess and mature their ideas for the market and communities of practice, including proof of concept for commercialization, advancement of nascent projects with strong innovation potential and development of research projects with civic and social relevance.
“This new fund is just the latest launch in an ongoing effort to foster our culture of innovation as One Vanderbilt. We are growing resources for our faculty to take the products of their research out into the communities, where they can drive impact through commercialization; new ventures; partnerships with nonprofits, industry and government; and more,” said Vice Provost for Research and Innovation Padma Raghavan. “I look forward to seeing how faculty leverage this fund to enhance their research impact on society through new technologies, practices and policies.”
The new program is managed by the Office of the Vice Provost for Research and Innovation in consultation with Vanderbilt University Medical Center Office of Research and academic leadership in the Vanderbilt schools and colleges. The Center for Technology Transfer and Commercialization will manage the proposal submission and review process and coordinate with deans on related initiatives across the university’s schools and colleges.
Read the full, original story and learn more about the Innovation Catalyst Fund here.