Massachusetts Launches Tech Commercialization Awards

Sometimes a little money is all that may be required to discover that an innovation in the lab is worth millions in the marketplace. At least that's the goal of a small grant program launched this afternoon by the Massachusetts Technology Transfer Center (MTTC). The MTTC Tech Commercialization Awards will provide $5,000 mini-grants for technology assessments and investigations by academic and industrial researchers within the Commonwealth.

All researchers and technology licensing offices at Massachusetts research institutions are eligible for the awards, which strive to enable researchers to move technology closer to commercial markets. Five awards of up to $5,000 each will be granted to determine the potential commercial application of innovative technology, including identifying target markets and business development contacts. An additional five grants of up to $25,000 will be made for technology development projects, including prototype building, proof-of-concept demonstrations and project development.

Created in 2004 and housed in the Commercial Ventures and Intellectual Property Office at the University of Massachusetts Office of the President, MTTC works with more than 30 technology licensing offices at universities and nonprofit research organizations across the state. The awards launch is the first in a series of MTTC activities intended to spark new businesses and strengthen the technology lead of existing companies in the Commonwealth by bringing together researchers, company executives and financiers.

MTTC received $2.4 million as seed funding from the state as part of the 2003 Massachusetts Economic Stimulus Bill (see Jan. 30, 2004 Digest).

More information is available at: http://www.mattcenter.org/