I-Corps Sites - Type I: University of Virginia I-Corps Site for Entrepreneurship

University Of Virginia Main Campus, Charlottesville VA

Investigators

Abstract

This proposal from the University of Virginia (UVA) creates and I-Corps Site at this institution. Innovation Corps (I-Corps) Sites are NSF-funded entities established at universities whose purpose is to nurture and support multiple, local teams to transition their technology concepts into the marketplace. Sites provide infrastructure, advice, resources, networking opportunities, training and modest funding to enable groups to transition their work into the marketplace or into becoming I-Corps Team applicants. I-Corps Sites also strengthen innovation locally and regionally and contribute to the National Innovation Network of mentors, researchers, entrepreneurs and investors. The UVA I-Corps Site is a natural extension of the entrepreneurship efforts already in place on the campus. UVA has an extensive set of offerings for its students to learn about the basics of entrepreneurship. The University also has resources for proof of concept that fund teams building prototypes and testing product market fit. The UVA Site will provide the opportunity for early-stage support to help nascent teams take the first step toward commercialization. The Site will help fill the gap between a potentially marketable idea developed in one of the academic centers on campus and several existing translational funds that can provide more meaningful support for a promising start-up team, such as the Coulter Translational Research Partnership, the Biomedical Innovation Fund, the LaunchPad for Diabetes, and the LVG Seed Fund. The fit of the I-Corps program into the existing ecosystem makes UVA a very strong candidate for an I-Corps site. The project will have predictable broader impacts through its effect on the local and regional ecosystems - enabling the launch of new ventures to create jobs and improve the economy.