Gap Fund

Letters of Intent for the Third Round of Georgetown Gap Funding

Georgetown’s Office of Technology Commercialization (OTC) in collaboration with Office of Advancement and with input from Georgetown’s Leadership, is launching the Third round of Gap Funding to advance promising biomedical technologies to the next value inflection point. OTC is seeking solicitation for Letters of Intent (LOI), beginning March 24, 2023. The deadline for LOI submission is April 10, 2023. The grant will be in the range of $100,000 per project for a year.  In order to be eligible for this funding, technology must have been disclosed to OTC for which OTC has secured patent protection. Funded projects may be eligible for additional support in subsequent years, subject to the future availability of funds and depending on performance relative to identified milestones.

The Gap Fund was established last year with a $1M gift from Georgetown alumnus Bill Baker (C’54, Parent’ 80, ‘84, ‘83) and his wife Ruth Baker. In today’s federal budgetary environment, there is a particularly acute challenge to getting earlier-stage and bench science “off the ground,” and many early-stage discoveries fail to realize their potential for impact due to a lack of funding after initial proof of concept. These research projects languish in the funding gap often referred to as the “valley of death.” Georgetown’s Gap Fund is intended to overcome some of the funding barriers and to strengthen the impact on innovation from our research enterprise. It is hoped that funded projects will be more likely to be translated to new products or services for public benefit.

To learn more about the Gap Fund please visit the following link.

Award Opportunity

The development milestone driven Gap Fund award provides up to $100,000 for each biomedical technology for one year with an opportunity to qualify for subsequent funding.

Eligibility Criteria

• The technology has some proof of concept data and addresses unmet medical needs.

• The technology has been formally disclosed to OTC and there is a patent application pending or patent issued on the technology.

• The technology was found to need additional proof of concept or validation.
• The technology is not currently licensed or optioned.
• The technology has not been previously funded through the Gap Fund program in prior years.

• Incremental additional funding could help the technology reach a milestone that would provide distinct additional value to the technology.

• Applicant has shown commitment to follow through on the research.

Process

• Submit your Letters of Intent (1-2 pages) to OTC.

• These LOIs will be reviewed and scored by the Gap Fund Advisory Board.

• A select group of applicants will be invited to submit a Full Application (3-5 pages). 

• The full application will be reviewed and scored by the Gap Fund Advisory Board

• There will be two virtual workshops held for applicants to provide additional background on the fund and guidance for the application process. 

• Late submissions will not be accepted for any reason.  Proposals received after the deadline will not be reviewed.