| Opportunity status: | Open |
| Funders: | CALL FOR PROPOSALS FOR THE PCIEERD SPRINT Program (For 2024-2025 Funding) (Funding Assistance for Spin-offs and Translation of Research in Advancing Commercialization (FASTRAC) and FASTRAC Lite Program |
| Funding type: | Grant |
| Funding Agency: | DOST-Philippine Council for Industry, EnergyDOST-Philippine Council for Industry, Energyand Emerging Technology (DOST-PCIEERD) |
| Opening date: | June 1, 2024 (8:00 A.M.) |
| Closing date: | June 11, 2024 (5:00 P.M.) |
| Evaluation Period: |
June 13 – July 10, 2024 (19 Working Days) |
| Start of Project/s: |
September 2024 |
| Submit through: | DOST Project Management Information System (DPMIS): http://dpmis.dost.gov.ph |
| PDF Copy | Call Guidelines For e-Copy of Priority Areas, please refer to the link below |
OVERVIEW
The Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) is announcing its new program for researchers interested in commercializing technologies to the 2024 Call for Proposals for the PCIEERD
Funding Assistance for Spin-offs and Translation of Research in Advancing Commercialization (FASTRAC) and FASTRAC Lite Program.
The FASTRAC Program is established to bridge the gap between R&D and commercialization of PCIEERD funded technologies, through the validation of business models for products or services, built around the research outputs which will be offered to its intended users through a Spin-off Company. The FASTRAC Lite Program on the other hand aims to bridge the gap between R&D and commercialization of PCIEERD funded technologies, translating research outputs into market-ready and scalable products to be licensed with initial adopters or manufacturing companies. Both Programs are follow-up interventions to researchers who completed the Short-Term Program for Researchers for Innovation and Technopreneurship (SPRINT Program) which is a ladderized and customized Training Program for PCIEERD researchers to guide them and equip them with the necessary skills and knowledge in commercializing their technologies. The SPRINT STEP Program is the prerequisite to the FASTRAC Program, while the SPRINT SIKLAB is the prerequisite to the FASTRAC Lite Program.
OPPORTUNITY SUMMARY
This call for proposal is open only to PCIEERD researchers who completed the SPRINT Program. Interested researchers may avail of any of the following funding programs:
1. FASTRAC Program: Spin-off/start up simulation (1-1.5 years project)
The scope of the FASTRAC grant includes the following:
- To address the technical gaps for the products and services to meet targeted performance benchmarks
- To validate the target market segments identified in the SPRINT program and develop product and service packages according to client specifications
- To validate the business model and revenue models developed during the SPRINT program
- To simulate spin off operation by producing product and service packages based on the validated business model
The target outputs of FASTRAC proposals are:
- Validated Business models
- Validated financial model
- Product and//or service packages
Performance tests and/or certifications, if applicable
- Purchase order or intent to purchase from a client
- Signed Technology License Agreement for a spin off
- Business registration for the spin-off
2. FASTRAC Lite Program: Translation of research output into products (1 year project)
The scope of the FASTRAC LITE grant includes the following:
- To address the technical gaps for the products and services to meet targeted performance benchmarks
- To validate the target market segments identified in the SPRINT program and develop product and service packages according to client specifications
- To demonstrate and deploy the technology to target partners and initial adaptors
- To prepare for the performance testing in line with applicable standards The target outputs of FASTRAC LITE proposals are:
- Validated Product and//or service packages
- Performance tests and/or certifications, if applicable
- Partnership agreements to adopt technology in preparation for a Technology License Agreement after the FASTRAC LITE
