The Department for Research & Innovation is pleased to announce the opening of its 2014/2015 Proof of Principle Programme.
Proof of Principle aims to help academics gain a better understanding of the commercial potential of a new or previously disclosed technology innovation or creative work.
Any action that explores or further develops commercial potential will be eligible for support. This may include development of an early stage prototype, demonstrator or generaton of validation data that can be utilised for initial engagement with, and presentation to, potential customers, partners or investors.
Successful applicants are likely to have submitted proposals that:
- Clearly demonstrate that the proposed innovation has the potential to solve a specific market problem or unmet / un-served customer need.
- Show a reasonable understanding of the target market.
- Demonstrate whether there are competing technologies or processes (and their benefits and weaknesses relative to the concept being developed).
- Are backed up with significant data which can be further expanded or validated through essential confirmatory proof of principle tests included in the proposals.
- Can be completed within six months.
Research & Innovation invite projects with funding requirements of £5-10K to assist in demonstrating the commercial potential of a new invention and/or creative work and to highlight the need for and type of additional development support that would be required to take the invention and/or creative work closer to market.
The anticipated outcome from the PoP programme is projects with the potential to secure follow on applied R&D funding such as Invest Northern Ireland’s Proof of Concept grant scheme and/or a Commercial Business Proposal.