Georgetown’s Office of Technology Commercialization (OTC) Announces the Evergreen Gap Fund
Georgetown’s Office of Technology Commercialization (OTC) in collaboration with the Office of Advancement and with input from Georgetown’s Leadership is pleased to announce the Evergreen Gap Fund.
About the Gap Fund and Previous Recipients
The Georgetown University Gap Fund, established in 2021 through a generous $1M gift from Bill Baker (C’54) and Ruth Baker (Parents ’80, ’84, ’88), addresses critical funding challenges faced by early-stage research innovations in the current federal budgetary landscape.
The initiative supports projects with high commercial potential, bridging the gap between cutting-edge research and real-world applications. By funding additional proof-of-concept studies or prototype development, the Gap Fund paves the way for significant advancements across various fields.
Key Achievements:
- Since its launch in 2021, the Gap Fund has supported 8 projects with a total of $1M deployed.
- Several funded projects have made significant strides in their respective fields, with three successfully out-licensed following additional data collection.
To learn more about the Gap Fund’s origin and its impact, please explore our previous news coverage below and discover the recipients of the Gap Fund from 2021 to 2023:
Expanded Scope and Funding Source
Building on the success of three completed funding rounds, Georgetown University is expanding its commitment to advancing promising technologies towards commercialization and broader societal impact.
A generous donation of $200,000 from Chris and Rachel Baker (P’26 and son of Bill Baker) will underwrite the launch of the Gap Fund’s next round. This donation is being offered as a matching challenge for other philanthropic partners in the Georgetown community to join in support of this effort.
Starting in 2025, the fund will be rebranded as the Evergreen Gap Fund to reflect its sustainable funding model. The University will allocate 10% of net licensing revenue (previously allocated to the President’s Office – see IP Policy) directly to the fund, further bolstering its capacity to support innovative research.
This strategic investment underscores the fund’s effectiveness in fostering innovation and translating academic discoveries into tangible benefits for society. By providing consistent financial support, the Evergreen Gap Fund aims to:
- Increase the number of supported projects annually.
- Enhance the quality of proof-of-concept and prototype developments.
- Accelerate the commercialization of groundbreaking technologies.
Eligibility and Support
The Gap Fund is designed to support innovative research projects that:
- Demonstrate high commercial potential.
- Bridge the gap between research and real-world applications.
- Address significant scientific or technological challenges.
- Hold potential for groundbreaking advancements in their respective fields.
Application Process
Detailed information about the application process, eligibility criteria, and submission deadlines will be announced soon. Researchers are encouraged to prepare their innovative ideas for consideration.
For more information about the Evergreen Gap Fund, including updates on application timelines, eligibility requirements, and success stories, please visit our website , which will be updtaed soon or contact the Office of Technology Commercialization.