Funding Opportunity: MTEC Prototype Acceleration Bridge Loans

Purpose

MTEC is continuing the implementation of our prototype acceleration funding opportunity and commercialization grant programs under this new “Prototype Acceleration Bridge Loan” program. This provides an opportunity to de-risk medical technology development by MTEC members in order to advance their readiness to secure follow-on funding. In other words, the Prototype Acceleration program will provide MTEC funding to “bridge” the technology maturation to a point where the MTEC member is able to secure follow-on funding. Follow-on funding is broadly defined to include both private and public sources of funding received after initiation of the work funded by this Prototype Acceleration Bridge Loan. The Applicant is required to provide a well-defined strategy for obtaining follow-on funding to include repayment. The Applicant is encouraged to provide letters of support from potential follow-on funders.

This application, issued by MTEC, represents a new MTEC Prototype Acceleration Funding mechanism to provide bridge loans.

Objective: To de-risk technology advancement toward a military application to a point that allows the MTEC member to secure follow-on funding.

Funding Available: $50,000 - $100,000 per loan (loan amount is negotiable on a case-by-case basis dependent on Applicant’s need).

Award Type: Promissory Note (also referred to as a “Bridge Loan”).

Scope of Work: Tasks technical and business in nature.

Process:

• Stage 1 - Application.
• Stage 2 - Final approval and disbursement of funds.

Points of Contact

For inquiries, please direct your correspondence to Biomedical Research Associate Chuck Hutti, Ph.D. at Chuck.Hutti@ati.org.