A University of Arkansas fund has provided more than $1.3 million in grants to develop new technologies.
The Chancellor’s Commercialization Fund, established in March 2019, has awarded 33 grants since its inception to Arkansas researchers who are developing “real-word applications, providing critical, commercially relevant data or developing working prototypes.”
Grant recipients have used the funding for support for postdoctoral students, graduate assistants, materials, travel expenses and other associated costs.
“Simply stated, the higher your research volume, or expenditures, the more likely you are to generate intellectual property with commercial applications.” As such, the grant also provides for additional investment in staff, programs, operations and outreach related to economic development and the commercialization of research,” Chancellor Joe Steimetz said in a statement.
The Walton Family Charitable Support Foundation made a $23.7 donation to bolster the university’s research and economic development. This donation made the annual $1 million allocated to the Commercialization Fund possible.