Events in Physics
Follow on funding (FoF) is intended to provide financial support at very early or pre-seed stage of turning research outputs into a commercial application. The idea must have a clear potential for commercialisation. Proposals should not exceed a total value of 拢110K at 100% of fEC, and should be no longer than 12 months long. STFC will award 80% fEC.
FoF is a 鈥榩roof-of-concept鈥� model, where further work on an idea will make any commercial potential evident to the market and so secure, for example, a spin-out (seed/venture finance) or licensing opportunity or provide the necessary information to bid for other KE schemes e.g. IPS, CLASP. This often takes small amounts of funds to enable activities essential to preparing a robust business plan.
Follow-on funding is designed support a range of relevant activities to enable the development and examination of a concept to establish its commercial feasibility and scientific and technical merit. Industrial partners are not required as part of Follow-on Fund applications, however industrial, non-governmental organisations or academic partners from other higher education institutes are welcome where appropriate. Whilst other funding is not a prerequisite, Follow-on Fund grant applications which have secured funding from elsewhere e.g. host institution, will be looked upon favourably. N.B. Funding from third parties must be additional to the funds requested.
Funding can be used for
Undertaking further scientific and technical development of an idea.
Improving an intellectual property (IP) position, through for example, supporting further work to exemplify or broaden patent claims. All intellectual property arising from a Follow-on Fund grant will rest with the institution to which the grant is awarded.
Gaining further information about the market for the new product or process.
Identifying potential licensees or opportunities for joint ventures.