To help launch companies around university research results, Georgia Research Alliance (GRA) launched its lead commercialization program, VentureLab, in 2002.
The goals of Venture Lab are to:
1. move university technologies out of the lab and into the marketplace
2. grow university-based start-up companies in Georgia to create a vibrant industrial base with high-value jobs.
Investment levels
To accomplish these goals, GRA awards grants and loans to research enterprises in their earliest stages:
- Phase I grants (up to $50,000) to the university help researchers answer the question, “Is it commercially feasible to build a company around this technology?” University researchers use these grants to evaluate the benefits and risks of a discovery.
- Phase II grants (up to $100,000) to the university enable researchers to continue prototype development and formulate a company. Phase II projects must have matching funds to validate the technology in the marketplace.
- Phase III loans (up to $250,000) are made to eligible VentureLab companies that have a fully executed license from the university. These companies must also have Georgia-based management. The non-collateralized loan has favorable repayment terms and conditions.
Contact
Lee Herron
Georgia Research Alliance
(404) 332-9770
E-mail: lee.herron@gra.org
Visit http://www.gra.org/Stories/StoryDetail/tabid/622/xmid/1074/Default.aspx. to learn more.