PROOF OF COMMERCIAL RELEVANCE (POCR)

Category: IA State Programs, Entrepreneur and Innovation Support

HELPING COMPANIES REACH COMMERCIALIZATION

The Proof of Commercial Relevance (POCR) program is designed to define and articulate the opportunity for businesses that demonstrate a proof-of-concept for innovative technology.

• Awards up to $25,000 in low interest loans with a 1:2 (private:public) match
• Recommend the applicant has completed initial inquiry as to value proposition, target market and business model
• Funds can be used for validation of market potential:
  • Beta testing activities that focus on validation of the technology/product, business model and marketing/distribution strategy/tactics (non-biomedical companies where regulatory approval is required)
  • Intellectual property development and evaluation, including in-depth analysis of market potential
  • Extended competitive analysis
  • Furthering translational development of a scientific discovery

Eligibility

• Iowa-based company legally formed and registered with the Iowa Secretary of State
• Fewer than 500 employees
• Advanced manufacturing, bioscience or information technology industries
• Validated concept or intellectual property and demonstrated proof-of-concept (functional prototype) of innovative technology solution
• Seeking market validation of products/services and business model prior to commercial launch
• Minimum of two co-founders/principals actively engaged in the business (expertise in core technology and business development/financial operations)

How to Apply

• Applications reviewed on an ongoing basis with funding decisions bi-monthly
• IEDA has engaged the services of VentureNet Iowa to manage the application review process
• Contact VentureNet Iowa for current application and to verify eligibility
• Applicant completes panel review process and presentation to the IEDA Technology and Commercialization Committee (TCC)