UVMVentures Funds: FAQs
Please find below the answers to some common questions. If you have more questions, please contact us.
- How many times can I apply for a Pre-Seed Grant?
You may apply for a Pre-Seed Grant as many times as you wish. However, the total of all Pre-Seed Grant awards for projects related to the development of any one technology, product, or service cannot exceed $20,000.
I applied for but was not awarded a grant. If I want to apply again, what should I do?
You need to obtain another copy of the application for the grant for which you are applying. Obtaining new forms is important because the application may change slightly from round to round. In addition, we encourage you to contact OTC and obtain feedback about your earlier proposal.
I applied for a grant, was turned down, and have decided not to apply again. Is there anything else I should do?
Yes, we encourage you to contact OTC and speak with someone about your proposal, so we can give you all of the feedback obtained from the reviewers.
I am applying for a grant and want to know what is considered a reasonable salary or stipend for those working on the grant?
Faculty are not eligible for payment under the Innovations Fund or Pre-Seed Fund. However, students and staff may be paid a stipend to work specifically on the grant project. The amounts should be detailed in your budget proposal.
Does overhead apply to the grant budget?
No, the budget should include only direct costs.
Does UVM accept equity as part of the compensation for its technology?
Yes, equity can be used for partial compensation.
Does UVM invest cash in start-up companies that are based on UVM-licensed technology?
No, UVM policy prohibits cash investments in such companies.
What happens if I relocate outside Vermont after an Innovations award?
We expect job creation to result from the development of new technologies, so penalties apply if activities that provide economic benefit move outside Vermont within 5 years of completion of an OTC-funded project. Cases of partial manufacturing or expansion outside of Vermont will be considered on a case-by-case basis, with an emphasis on the use of grant money to support efforts that benefit Vermont.