Use of Awards Funds
Funding for the NCI SPRINT Program is $21,750 per award. Recovery of indirect costs (F&A) shall be limited to $6,750.
Terms of Award
Within the award amount of $21,750, funds must be set aside for up to three team members (the Entrepreneurial Lead, Principle Investigator, and Industry Mentor) to attend:
- Funds should also be set aside for customer discovery activities (primarily to cover the cost of travel to meet potential customers or partners). It is expected that customer discovery travel will be the largest portion of the SPRINT budget.
- Funds do not cover technical R&D work, which includes facility fees or materials and supplies.
- The SPRINT Team grant can typically accommodate short-term, modest financial support for the EL, however, budgeting is at the discretion of the SPRINT team PI receiving the award.
The final report needs to detail the work conducted under the SPRINT Award, the progress and learning made by the team in the reporting period, the outcomes of the work, and the team’s vision for their project post-award. The report should articulate the customer segments explored, what pivots were made, and how the team sees their value proposition and the rest of the business model. This report needs to be submitted to VentureWell within 60 days of the final day of the closeout session.