2014-2015 Proof of Concept Grants are closed for new applications.
Updated July 27, 2015: Granting cycle 3 has been cancelled.
Proof of Concept grants are intended to enhance the commercial viability of health-related technologies or concepts developed by non-profit organizations or enhance the competitiveness of early-stage companies for private equity investment. The maximum award is $250,000 in total costs.
New: For-profit entities are not eligible if they have received more than $500,000 in equity investment, including convertible debt.
Submission and review process:
- Three cycles of pre-proposal review, proposal review, and awards by the LSDF Board of Trustees through September 2015.
- New: Pre-proposal interviews have been eliminated, as has the limit on the number of pre-proposals accepted per cycle.
- Pre-proposals are reviewed every four to five months.
- Invited proposals are due approximately one month after pre-proposal evaluation and are reviewed within one month of receipt. Proposal reviews require a presentation and interview.
- Awards are made approximately two months after proposal reviews.
- An invitation to submit a proposal is valid only for the proposal submission date that immediately follows that invitation. Invitations do not carry over to subsequent application cycles.
All applicants must submit a pre-proposal through LSDF’s online system to be considered for a grant. Only a subset of pre-proposals will be invited to submit a proposal.
Up to $4.5 million is available for award through September 2015, with no specific allocations or quotas by applicant organization type (for-profit vs. non-profit). As awards are made, the remaining balance of funds will be available on this page.
Update December 15, 2014: Awards for Cycle 1 were announced in December 2014.
Update May 21, 2015: Awards for Cycle 2 were announced in May 2015.