For-Profit Entity Proof of Concept

For-Profit Entity POC funding is available for projects to be undertaken by or on behalf of a Kansas-based, for-profit entity for the purpose of evaluating and/or commercializing unique and innovative technology that is scalable and targeted for development via entrepreneurial enterprise in Kansas. Qualifying entities may not have received in excess of $750,000 in total capital from other sources.

This POC funding opportunity is designed to help develop a project/product to the point where the entity can raise significant amounts of external capital. Typically, these awards will be used for commercial assessment and/or technology validation, such as advanced testing or prototype development.

If a funded project or the intellectual property to which it is directed results in commercial advancement satisfying specified conditions (e.g., partnering-based funding, equity financing, or sales/licensing revenues to a pre-determined level), recipients are required to repay the award according to agreed terms. If, however, such conditions are not successfully met, POC Convertible funding does not require repayment.

To be eligible, the project must:

• Have clear technical or commercial objective with innovative technology
• Be undertaken by a Kansas-based, for-profit entity that has not raised in excess of $750,000 total capital from other sources
• Be reviewed by and submitted through one of the approved partners

POC funds can be used for, but not limited to, the following:

• Technical Validation
• Advanced Testing
• Prototype development
• Commercial Assessment
• Other technology-focused activities

POC funds cannot be used for:

• Normal salary costs of the applicant (or related persons or entities)
• Fixed overhead costs
• Previously incurred costs
• To secure other funding opportunities (e.g. matching grants)
• Costs for securing intellectual property rights (e.g. patent costs)