If you’re ready to bring your technology or product to life—and to the marketplace through an Oregon-based company—the ONAMI Gap funding program can help you get there. Here’s what your collaborative team needs to do to apply for funding:
Create a proposal
Make sure your proposal includes the following sections:
- Executive summary: 1-2 paragraphs describing:
- What you’re developing
- The market and application
- When and where you’re developing it
- What level of funding you want
- The technical indicators required for success
- The market opportunity:
- Total and served addressable market potential
- Target customers and key customer need(s)/pain points
- Products planned and performance specifications required to win in the marketplace
- Evidence of early customer interest
- Competition—technologies, products, companies
- The technology:
- What it is (but no need to disclose proprietary “secret sauce”)
- How it aligns with ONAMI’s focus on nano- and micro-technologies
- The current state of achievement
- IP status
- Who developed the technology and their level of involvement in this project
- Commercialization partners:
- Entrepreneur/small business that will commercialize the product/technology
- License/option status
- Evidence of investor and/or corporate partner interest
- "Gap" project objective and total amount requested:
- How the gap project will lead to significant private and/or federal funding within 12-18 months
- If sources of outside funding have been approached. Provide any feedback from such discussions as they relate to the elements of this proposal.
- Specific project plan and detailed use of funds:
(Successful applicants should anticipate that awarded funds will come in tranches, with funding for subsequent stages contingent on meeting milestones and success criteria from each preceding stage.)
- The team (personnel and qualifications)
- Milestones and performance metrics
- Institutional endorsement /approval:
- A letter of support from the appropriate technology transfer office assuring that any necessary background or project-generated IP will be available for license (usually exclusive) to the company for at least the duration of the project
- Confirmation that outside activities are acceptable with the institution that developed the technology
- A conflict of interest management plan if you have an equity interest in the commercialization partner
- Additional information is welcome; please keep it as concise as possible
- Contact information:
- Your name, title, phone number and email address
Submit your proposal
Email your completed proposal to the following ONAMI staff:
- Jay Lindquist, ONAMI Commercialization and Gap Fund Manager: firstname.lastname@example.org
- Skip Rung, ONAMI President and Executive Director: email@example.com
Our staff will work with you to improve your proposal and possibly select you to present it at our quarterly Commercialization Advisory Council (CAC) meeting. The CAC consists of local and regional angel and venture capital investors, expertly qualified to help us determine whether your product and company have the potential to grow and thrive in Oregon.
What to expect
- The Commercialization Manager or ONAMI President will contact you directly to help you refine your proposal so that it has the best chance of being selected for presentation to the CAC. This is a highly competitive process, and only the best proposals will be selected.
- If selected for presentation to the CAC, CAC members will receive your proposal for review independently a few days prior to the meeting. Group presentations, Q&A, private discussion and subsequent recommendations are made at the meeting. At that time, proposals may be rejected, returned for modification/clarification or recommended for funding, provided suitable terms can be negotiated.
- If your proposal is recommended, your team will be required to work with the Commercialization manager to develop a Statement of Work for the ONAMI-University partnership and negotiate detailed terms.
- The ONAMI Operations Council (a subset of the ONAMI board of directors) makes final funding decisions and releases funds at the appropriate times. Project tracking comprises:
- Monthly reporting to the Commercialization Manager on the 15th of each month
- Checkpoint/milestone meetings with the Commercialization manager, who will decide whether to recommend releasing funding for the next project phase
- Final reporting and project closeout
- Post-project reporting, quarterly for five years, on investment and grant funds raised and Oregon-based employment levels at the company (aggregated with other gap fund projects for state-level performance reporting)
- To help promote ONAMI’s long-term sustainability and mission to grow jobs in Oregon, all projects/companies will be required to enter into agreements with ONAMI that provide for a “charitable” level of financial interest (well below the market-rate cost of capital). These agreements may require that ONAMI receive a small percentage of the royalties or equity benefits accruing to the partner university and/or some form of equity from the company. These mechanisms help ensure there will be funds to assist future applicants.
Our entrepreneurs-in-residence are business executives available to guide you with practical experience and resources.