Criteria

-ELIGIBILITY CRITERIA-

  • Intellectual property must be owned by Northwestern
  • Intention to create a new venture, or new venture already formed at time of award
  • Focus of the new venture MUST include commercialization of Northwestern owned intellectual property subject to a license agreement with Northwestern


-EVALUATION CRITERIA-

  • Well-defined milestones to be completed within one year
  • Product/Technology potential (e.g., market size, accessibility, opportunity, business model, and value proposition)
  • Qualified team with ability to attract proper management
  • Achievable commercialization plan after N.XT

-GENERAL TERMS-

  • Up to $200k awards per project
  • No limit on the number of awards made per year
  • 1-2 award cycles per year, but applications may be submitted at any time


-EXPECTATIONS-

  • Initial interview with Advisory Board
  • Orientation
  • Agree to N.XT terms and conditions
  • At least three meetings with mentor team
  • Meetings with diligence team
  • Record keeping for milestone progress
  • Development plan execution
  • Final business pitch to investors