Texas Tech University

Innovation Hub

Prototype
Fund

 
 

Take your startup to the next level!

APPLICATIONS NOW OPEN. APPLY BEFORE SEPTEMBER 25TH!

The Prototype Fund empowers entrepreneurs to create a prototype based on customer discovery insights. We're looking for established startups with innovative solutions that are ready to develop their minimum viable product (MVP) within the next year!

Apply Now

Who can apply?

To apply, you must be 18-years or older with an established startup company. Want to be more competitive? Participate in other Innovation Hub programs to make your application more competitive.

Why should you apply to the Prototype Fund?

  • To accelerate the development of a prototype for technology startups
  • To assist TTU faculty, community, and students in furthering IP development as a result of the NSF I-Corps recommendations
  • To develop an MVP as a current or past participant in any Innovation Hub Programs
  • To bridge the validation of technology in currently funded SBIR/STTR programs or newly submitted proposals

What amount of funding can you ask for?

Competitive applications should allot for one (or more) of the following budget categories with reasonable need. The submitted budget should include specific milestones and a timeline for deliverables. Budgets should NOT exceed a one-year timeline. 

  • $5,000
  • $10,000
  • $15,000
  • $25,000

Note: Applicants should review the Allowable Budget Items document to understand which expenses are permitted under this program. 

Examples of Applications that are NOT a fit for the Prototype Fund:

  • Web-based or mobile applications that lack substantial innovation or impact
  • Purely research & development proposals with no defined commercial applications or potential
  • Applications without a clearly defined technology invention or innovation
  • Applications that don't address a path to commercialization 

Applying to the Prototype Fund is a straightforward (but thorough) process:

Step One

Review the Prototype Fund Rubric that outlines the criteria needed for a competitive application. Criteria includes: customer segment, product/MVP, technology assessment from the Office of Research Commercialization, budget, milestones, and Texas Tech affiliation (if any). 

Step Two

Complete the application by September 25th, 2024 through our competition portal. Applicants must submit the following to be eligible for funding:

  • 3-page narrative that provides an overview based on the criteria outlined in the rubric
  • Budget based on one (or more) fund amount (listed above)
  • Detailed timeline for allocation/use of budgeted fund amount
  • Biosketch or resume of PI or CEO
Apply Now

Ganga Baskar
Commercialization Program Director
ganga.baskar@ttu.edu