Goals of the fund include:
- Developing the technology to bring it closer to the market. This can include prototyping, testing for efficacy, etc.
- Creating industry partnerships by meeting potential licensees, finding pivots for their technology in the market, etc.
- Generating a start-up company wherein the money is used to hire necessary personnel, purchase equipment, etc.
- Preparing for further funding, such as SBIR / STTR grants, or other non-dilutive funding opportunities.
Successful projects will include more than one of these aspects.
The Technology Gap Fund process is managed by the UH Office of Technology Transfer and Innovation.