Proof of Concept Fund

InterAct manages a £1.5 million Proof of Concept (POC) Fund, which provides initial development funding to allow nascent opportunities to be progressed to a point where their commercial value can be better realised through licensing or further venture funding. During the first InterAct project 21 projects received funding, the first of which have already resulted in new exploitation opportunities being realized.

For the current InterAct project the first investment round was held in December 2008 where funding was approved for four projects. A second investment round will be held in March 2009 and quarterly thereafter. Projects funded to date include: a new molecular detection platform and assays; the development of new reference materials to provide additional commercial reagent opportunities; and validation of an improved glove for dangerous chemical handling. Projects can involve other academic/government laboratories as well as collaborative projects with commercial companies.

Members of InterAct organizations should contact their InterAct representative for more details about applying for POC funding

Details of the funded projects will be added to this page as the project progresses.