University Venture Development Fund (UVDF)

University Venture Development Fund (UVDF) is sponsored by Portland State University. UVDF provides early-stage capital to promising ventures emerging from the PSU community, fostering innovation and economic growth in Oregon.

University Venture Development Fund Application | Portland State University University Venture Development Fund Application UVDF applications are currently being accepted on a rolling basis by IIP. To apply under the Promotion or Development Fund (internal awards), please submit to the Director of IIP a 3-5 page proposal and an indication of the fund to which you are applying (Development, Promotion).

Please follow the proposal guidelines below. Additional application materials may be requested on a project by project basis. To apply under the Facilitator Fund (external awards to PSU startups), please submit to the Director of IIP a business case, company financials, and a proposal of sufficient length to address the proposal guidelines below.

Additional application materials may be requested on a project-by-project basis. Promotion and Development Funds: These UVDF programs are only available to PSU faculty, staff, students, research teams. The projects proposed must either be related to innovations previously disclosed to IIP and with intellectual property is managed by IIP, or related to entrepreneurial education for PSU students.

Facilitator Funds: This UVDF program is available to PSU research-based startup companies that have taken or will take a license to PSU owned intellectual property. Promotion Fund and Development Fund applications may range from $10,000 to $100,000 but are contingent on the availability of funds, number of existing applications, and the potential impact on entrepreneurial education or commercialization.

Facilitator Funds may range from $20,000 to $100,000 contingent on the availability of funds and depending on the needs of the startup company or maybe in $700 to $1500 ranges to assist with company formation. The general principle is to target funds to tasks where modest amounts of funding may have the most impact.

Individual proposed projects are not expected to take more than one year to complete, although with the proper justification, and subject to fund availability, higher amounts over multiple years will be considered. The university community is aware of potential conflicts of interest that may arise as a direct result of this program. Potential grant awards will be screened for conflicts of interest.

No award will be made if an identified conflict of interest cannot be eliminated or managed. Please include in the proposal: a description of the technology or innovation being supported, team information, appropriate milestones, a budget justification for major items, applicable due diligence, and enough information to address the evaluation criteria below.

For Development and Promotion Funds , non-educational proposals will be scored by an internal IIP team on: Commercial and technological viability Potential for a license to enable the impact of the technology Potential for an Oregon-based startup Likelihood of a commercial relationship or use, and The strength of the research team For Facilitator Funds at higher ranges (more than the “startup formation” range), IIP facilitates an external UVDF review committee comprised of selected individuals from the angel and venture capital, entrepreneurial, and business communities.

The committee reviews the business case, financials, and proposal from the PSU startup company applicant based on the criteria below and recommends granting or withholding funding. The committee also provides valuable feedback to the applicant.

The evaluation criteria are: Funding or path to funding Technology development plan Based on the recommendations of IIP and, in the case of Facilitator Funds the UVDF review committee, the Director of IIP will make final funding decisions. The Vice President of Research, at their sole discretion, may change the amount of funding recommended by IIP at the time of the award, but not thereafter.

IIP will work with the PI, research group, or company to ensure that diligent progress is being made toward achieving the milestones. Progress on the projects, and final reports on the projects, will be reported to the director of IIP. In exchange for receiving UVDF Facilitator Funds, the State of Oregon would like companies to remain in Oregon for at least five years.

If a company leaves Oregon after accepting the funds but prior to five years, the company will be expected to pay back the funds. Also, as an evergreen mechanism for the UVDF, the company may be obligated to pay back the funds upon certain revenue or investment milestones. Director, Innovation & Intellectual Property