The reviewer panels at TREAT and NEPDC have offered up their advice for making your Target Challenge grant proposal the best it can be. Take a look!
1. Concisely describe your innovation allowing the reviewers to quickly conceptualize the device and/or solution.
2. Describe the value your innovation brings to the market and how it may outperform the current status quo. Outline the business model including market data, potential customers, competing products, team members and your exit strategy into an executive overview of your business plan.
3. Justify the budget. Commercializing a medical device is potentially a multi-million dollar undertaking from start to finish. Be sure you explain how you will make best use of the funds awarded to accomplish meaningful progress and why those costs are accurate estimations.
4. Provide evidence outlining how you engaged potential customers to verify that your solution solves the problem they have and want fixed.
5. Explore the areas of expertise that TREAT and NEPDC can offer to achieve your next steps in commercialization. Make clear what the critical hurdles are for achieving these next steps and include examples specific to these core areas of expertise. Within your request for In-Kind Service Resources describe how much of the allotted in-kind service hours you estimate using for specific commercialization tasks.
1. Regarding attachments:
- Only attach material that is directly relevant to the proposal.
- If including large documents as reference, make it easy to find the section you are referring to in the body of your proposal.
- Clearly label and caption images and figures.
- If including links, make sure they work.
2. Use your device’s name as the application title. If your device has not been named, give your application a strategic and meaningful title. Avoid naming your application things like “2016 Target Challenge submission”.
If you have questions about the application process, don’t be afraid to ask. You can email firstname.lastname@example.org at anytime.