Terms of Award

All project aims and budget funds must be completed/expended within 6 months from the date of awardNo extensions of time will be granted, unless extraordinary circumstances can be demonstrated, which must be described in detail in a written request to the TIF directors as soon as timely completion of the project is in question, but no later than 30 days prior to the end of the project term.

Three (3) months into the project, award recipients must meet with the assigned OTC project manager to provide a status on the project. Insufficient progress on a project at this meeting can result in early termination of the TIF award, and return of the Fund monies.

Progress report(s) may be submitted before the six-months completion; however, at a minimum, a final report must be submitted within 30 days of the end of the award period, or an approved extended term if applicable, to the TIF directors. At the end of the project term, all remaining funds will be refunded to the TIF.

Award recipients may reapply in subsequent rounds, up to a maximum of three (3) times, for support of the same technology (e.g., as a second phase, for example), not to exceed an aggregate cap of $150,000 per technology. In order to be eligible for any subsequent request for applications, the final progress report of the previous award(s) on the same technology must have been timely submitted to the TIF Directors. Applications that are directed to a technology that was previously funded will be subject to the full review process and considered in the same pool as first-time TIF award applicants.

Award recipients may be requested to present their findings to the Trask Advisory Council at any time during or after the award period.

All funds provided will be applicable for recovery, in full, as identified costs of development pursuant to Purdue University Intellectual Property Policy I.A.1.

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