Office of Research Administration

Three UMSL Inventors Receive FastTrack Funding

 

Five years ago, the UM Office of Research and Economic Development piloted a one-time funding program designed to enhance the University’s research discoveries by moving them further down the commercialization pipeline. From the projects funded under the program, numerous patent applications and license agreements resulted, as well as the raising of more than $1 million in research funding and investment capital. Due to this success, the Vice-President for Research and Economic Development committed $500,000 for a second round of funding under the FastTrack program with up to $50,000 available per proposal to support prospects from each of the UM campuses.

Funding under this program is to allow recipients to focus on development, testing, prototype construction or specific market research, which may lead to industry collaboration, licensing, the formation of a new company, or the abandonment of the technology for commercial application.

Inventors from the University of Missouri-St. Louis submitted 15 proposals to FastTrack II, the second-most submitted of the four UM campuses. The proposals represented a wide range of technologies and inventions and departments including chemistry, biology, optometry, fine arts, gerontology, and more. More than 70 proposals submitted to the UM System from the four campuses; with $500,000 available, 13 were funded including three from UMSL: