UNIVERSITY PARK, Pa. — The Penn State Commercialization GAP Fund program is still open and accepting applications from full-time faculty, staff and researchers with promising ideas for new products or technologies. The GAP Fund provides funding and support to help move research closer to market. The deadline has been extended to Feb. 21.
This opportunity will help the Penn State community receive the resources and guidance innovators need to turn ideas into real-world products and solutions that benefit society. Whether developing a new medical device, cutting-edge technology, or culture-changing artwork, the GAP Fund can help bring a vision to reality.
Overseen by the Office of Technology Management, the GAP Fund focuses on projects that target unmet industry needs with commercial potential, in hopes to attract investment interest within three years. Grants of up to $75,000 per year can be requested, although additional funding may be issued on a case-by-case basis. Matching these funds with other internal or external sources is a great way to maximize research potential.
The program also goes beyond just financial support. It can help connect principal investigators with a network of experienced mentors, advisers and industry partners who can provide guidance and expertise throughout the commercialization journey.
This comprehensive support system can be invaluable in navigating the complexities of bringing a new technology or product to market.
“The discoveries made within Penn State hold immense potential to improve lives and livelihoods. When groundbreaking research transitions from lab to market, it can create a ripple effect that impacts society and the economy," said Andrew Read, interim senior vice president for research at Penn State. "By commercializing research, there is an opportunity to translate knowledge into tangible benefits that could help improve health care, foster environmental responsibility and drive economic growth — not just for the Penn State ecosystem, but for the world. This is the power of innovation, and the GAP Fund could be a springboard to make it a reality.”
More information on the GAP Fund can be found on the Penn State Research website. Apply at this link. For questions, email GAPFund@psu.edu or call 814-865-6277.