The DRIVEN Accelerator Hub, a NIH-funded collaboration between top research institutions in the Northeast led by Celdara Medical, has announced funding programs:

The DRIVEN Partnership Program will include a GAP assessment, technology level readiness (TRL) assignment, formation of an action plan, connection of the partners with all DRIVEN contacts and resources and funds for key enabling activities. The program will culminate with the opportunity for the partners to pitch in front of the DRIVEN external committee comprised exclusively of investors (representing over $20 billion in assets under management) and buy-side business development leaders (cumulative market cap exceeding $700 billion). All nominees will receive multifaceted and actionable feedback on their business/development plans.

The DRIVEN Acceleration Fund ($50,000/award hard cap) is for early stage companies participating in the DRIVEN Partnership Program (so-called DRIVEN Companies, sourced from Northeastern IDeA states) to accomplish strategic goals, undertake key value-driving experiments, or otherwise increase their risk-adjusted expectation of quality-adjusted life year (QALY) creation. This fund augments the already-successful DRIVEN Partnership Program. Note: The first step in the application process is applying for the DRIVEN Partnership Program.

The DRIVEN Ignition Fund ($25,000/award hard cap) is for innovations or discoveries that need additional experimentation before company formation or out-licensing is warranted. Ignition Fund awardees will not participate in the DRIVEN Partnership Program as the Ignition Fund is specifically for the advancement of pre-company formation discoveries. This fund expands DRIVEN’s ability to engage with its smaller partners, and with earlier-stage academic innovation.

For further information, please visit: https://engr.udel.edu/news/2021/01/driven-announces-funding-programs/