Proof of Concept Application Form
All fields marked with an Asterisk * are mandatory.
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  • Project Description

    Please attach a project description including the following sections. Please limit the project description, excluding biographical sketches, budget and letters, to no more than five pages.

    Summary: Provide a brief description of your company/product/idea and indicate what makes it unique (200 words or less).

    Background: List and briefly describe the objectives. Briefly review the current
    status of the proposed work and include any pertinent IP status(disclosure, ownership, licensing arrangement, etc.), commercial interest,
    preliminary data and competition or barriers to market entry.

    Work Plan: Clearly and succinctly describe the tasks to be done, identify who will do each task and provide a timeline for completions of each task with milestones used to determine success.

    Commercialization Plan: Outline our plan for bringing the innovation to market, identify partners you plan to work with and include documentation of their interest or potential interest if your proof of concept research is successful. Clearly identify the economic impact on South Dakota’s economy in terms of job creation, partnerships with existing SD firms, etc.

    Biographical Sketch: One page bio for each participant.

    Budget: Up to $25,000
    Detailed itemized budget.
    Include budget justifications for items including identification of individuals salary, wages and
    benefits to be supported with funds, equipment purchases, materials and supplies and contractual costs including patenting costs requested.
    Document 10% cost share-equity
    Salaries for owners of the company are not allowed.

    Letters: Letters of commitment and support from investor and commercialization partners are required.