Canopy FUND
Nondilutive concept- and seed-stage funds awarded to virtual health technologies powered by participating university IP.
The Canopy Fund will grant nondilutive seed and concept awards to Oklahoma universities, totaling approximately $400,000 of investment. Through this staged application, applicants will better understand the path to clinical use for their technology and become better equipped with skills to survive “the valley of death” that frequently squelches budding innovations. Canopy Fund awardees will enter Canopy Commence, working with industry experts, project managers, and an ecosystem of business, operational, and technical resources to fortify their technology’s path to a viable clinical product.
ELIGIBILITY REQUIREMENTS
Canopy invites applications from principal investigators (PIs) who meet the following eligibility criteria:
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Teams should have two PIs, one with expertise in the technical domain, the other in the clinical setting.
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At least one PI must be a faculty member at an Oklahoma university.
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Both PIs must reside in Oklahoma full time.
EVALUATION CRITERIA
Technologies are evaluated based on the probability of future commercial success and the following criteria:
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Validity of unmet clinical need
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Competitive landscape
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Current and future market dynamics
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Strength and nature of intellectual property
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Addressability of regulatory risk
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Understanding of potential reimbursement hurdles
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High probability of clinical use or follow-on funding within 2-3 years of receiving an award