Beginning in 2021, The LaunchPad will provide an annual grant for one faculty member to explore an industry related to their area of research with the goal of discovering near-term commercialization opportunities.
Over a 12-month period, the faculty member will receive a $30,000+ grant to lead a team consisting of a graduate student, undergraduate researchers/market analysts, and be paired with an industry guide to support their efforts. The team will also have a budget of $7,500 for travel and other industry engagement expenses.
The selected grant recipient will be a faculty member at The University of Texas at Austin. The candidate should be an “early” career faculty researcher with an emerging interest in commercialization. The faculty member will receive a summer salary of $15,000. This individual will also lead a team of the following:
Graduate Student – an entrepreneurial member of the faculty’s lab or another graduate student interested in potentially becoming a founder (up to $15k salary)
Undergraduate Market Analyst Team – a set of undergraduate students to support in market analysis and research starting in summer 2021 or fall 2021 (unpaid)
Industry Guide – an experienced industry executive to serve as an advisor. The executive can be chosen by the faculty researcher from an existing relationship, or found and provided to the researcher through The LaunchPad network. (unpaid)
Timeline & Expectations
The selected faculty researcher will be expected to complete the following over the appointed 12-month period.
Attend industry events to learn about current issues, meet industry players, etc.
Lead their team in exploring relevant industry topics and potential market opportunities and conducting market research
Meet one-on-one with industry leaders, startups, financial services firms, analysts, and other professional services firms (e.g., legal, marketing, etc.)
Identify potential innovation opportunities that could be relevant to their research
Provide quarterly activity reports and semi-annual presentations for the Selection Committee
Applications Close: 5 p.m. on April 13, 2021
Program Dates: June 1 – May 31
Faculty Summer Session Appointment: June 1 – Aug. 31
Applications are currently closed for the Cottrell Faculty Entrepreneurship Grant. For updates on future dates and programs, sign up for our bi-weekly newsletter.