How to Apply
Projects supported by the i3A will be nominated from technologies that have been disclosed to MSIP and identified as those with significant commercial potential. If you would like to be considered for i3 funding and have not yet disclosed your technology to MSIP, you may submit a disclosure here. Criteria used by MSIP and the Investment Advisory Committee (IAC) to identify and fund projects are described below.
Funding and Budget
- Eiligibility and funding is contingent on the commercial potential and market size of the opportunity.
- Funding will be allocated via “Go / No Go” decisions at each milestone.
Proposal Submission and Review Process
Proposals will be reviewed by MSIP on a rolling basis. After submitting a disclosure to MSIP, a discussion with your MSIP Business Development representative should establish if this project could be a viable proposal. Timing for proposal submission will be determined in conjunction with the MSIP Business Development team.
Proposals will be invited based on the support from a Business Development team member. Each proposal will be reviewed by an Investment Advisory Committee (IAC) consisting of professionals with applicable experience in venture capital, entrepreneurship, pharma, biotech, hi-tech, and medical device.
Project funding will begin following the signing of an Informed Participation Letter, detailed project plan, and budget.
Application Process Overview
| Step 1 | Contact your Business Development representative |
| Step 2 | Submit a technology disclosure to MSIP (if not already submitted) |
| Step 3 | The technology must be nominated by a Business Development team member or Mount Sinai faculty |
| Step 4 | If the nomination is approved, the Principal Investigator (PI) will be invited to submit a full proposal. The full proposal will be a PowerPoint presentation that consists of a development plan with a budget, timeline, clearly defined milestones, and value inflection point. The use of contract research organization to achieve the tasks is encouraged. |
| Step 5 | Presentation by PI. The Investment Advisory Committee (IAC) will review the full proposal. |
| Step 6 | Decision of award. The decision is made by the IAC whose members have applicable experience in venture capital, entrepreneurship, pharma, biotech, hi-tech, and medical device. |
| Step 7 | Informed Participation Letter, detailed project plan, and budget are signed by MSIP, PI, and PI’s Administrator. |
| Step 8 | Execution of the development plan. A program manager will work with the PI to make sure the project moves forward. Funding is contingent on meeting the milestones of the development plan. |
Project Assessment Criteria
All proposals will be evaluated by the IAC based on the following criteria:
- Commercial development plan with clear inflection points and Go/No-Go decision points
- Novel approach with significant competitive advantage over existing technologies
- Substantial addressable market and potential impact on patient care
- Utilization of contract research organizations (CROs).
- Likelihood of generating new IP and/or enhancing the value of existing IP
- Third party validation of the proposed research/development from industry or venture groups
- Commitment from the PI to move the project forward and work with the project team
- Support from clinician champion, if applicable
Description of i3A Proposal Elementa
- Background
- Brief biography of the PI(s)
- Description of the unmet need and technical approach to solving the problem
- Novelty of the approach and comparison to competition
- Value Inflection Point
- Description of the results from the experiments that will attract a commercial partner
- Milestones
- Description of individual milestones and definition of clearly defined Go/No-Go decision points
- Development Plan
- Specify tasks and timeline that lead to achieving each milestone
- Specify which tasks are accomplished by CROs (includes identity of CRO)
- Costs for CROs and internal activities
- Intellectual property (IP)
- Status of current IP position
- Comparison to the IP landscape
- Marketing
- Description of marketing efforts and feedback received
- Supporting Information
- Relevant references