BATON ROUGE – The new LSU LIFT2 Grant Program has launched, just four months after creation of the new proof-of-concept program by the LSU Board of Supervisors. The Request for Proposals, or RFP, for this pilot phase of the program was released today; applications for grants from the LSU LIFT2 Fund are due June 20, with awards to be made in mid-July.
“Research universities like LSU are critical to the local, state and national economy. The work done at LSU drives innovation, attracts industry and stimulates the entrepreneurial spirit,” said LSU President and Chancellor F. King Alexander. “LIFT2 is an excellent method for us to support our faculty as they take their discoveries down the long and winding path from basic research to market.”
The LSU LIFT2 program was created by the LSU Board of Supervisors in January of 2014 to help “Leverage Innovation for Technology Transfer” across all the campuses of the LSU system. “Innovations” include creative and artistic works as well as devices, drugs, software and other more traditional inventions; thus, personnel from all disciplines on all LSU campuses are strongly encouraged to consider an application to further develop an invention which has been previously disclosed to their campus technology transfer office.
The LSU LIFT2 Fund provides support to help transfer LSU technologies and innovations to the market – support difficult to come by through traditional means. Providing a bridge over the critical gap between basic research and commercialization, the LSU LIFT2 Fundwill award grants to faculty on a competitive basis twice a year, in amounts up to $50,000, to validate the market potential of their inventions.
“The LIFT2 grant funding will offer new resources for commercialization of academic innovation,” said Arthur R. Cooper, chief executive officer of the LSU Research & Technology Foundation. “Supporting LSU’s entrepreneurial enterprise will increase the number of inventions that are available for licensing.”
By permanently securing a portion of licensing income for the LSU LIFT2 Fund, LSU has ensured continual reinvestment in new innovation opportunities and affirmed its commitment to advancing discoveries for public benefit. Commercialization of academic innovations through technology transfer further enhances multiple aspects of LSU’s mission and creates new economic opportunity in Louisiana and elsewhere.
Applications to the pilot LSU LIFT2 Grant program will be scored by an external review panel on criteria primarily related to technical merit and commercial potential. In this pilot round of the LSU LIFT2 Grant Program $500,000 will be available to support proof-of-concept projects.
Faculty members wishing to submit an RFP, should do so online at http://lsurtf.submittable.com/submit by June 20.
According to Cooper, the LSU LIFT2 website was designed with an easy and efficient grant application process for LSU’s entrepreneurial and creative faculty to transition their innovations to the marketplace.