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Open Innovation Grant Money Available from Ocean Optics

Date Announced: 10 Jun 2011

More than a quarter of a million dollars to fund research and development in optical sensing.

Dunedin, Florida (June 10, 2011) – With the goal of advancing technology in optical sensing, Ocean Optics has rolled out a new open innovation funding program with $300,000 available for two grant phases. Modeled after the streamlined Gates Foundation application process, the Blue Ocean Grants and Challenges program (www.blueoceangrants.com) seeks novel technologies with the potential for market commercialization. The deadline for applications is quickly approaching with a closing date of June, 30 2011 for the first round of funding.

As a company that itself grew from the innovation of an independent research team, Ocean Optics recognizes the value of looking outside its organization to develop ideas for new products and even new companies. In addition to the cash awards, the Blue Ocean program affords applicants the opportunity to work with Ocean Optics’ team to transform the grant idea into a reality. The company is offering access to its engineering and marketing teams, for anything from customization of its spectroscopy products to recommendations of partners and suppliers.

“Because optical sensing technologies have such a broad potential application base–Ocean Optics’ equipment is used for everything from cancer detection and biophotonic sensing, to ozone depletion measurement, to biofuel characterization–we expect a diverse applicant pool for Blue Ocean Grants,” explains Ocean Optics’ Chief Technology Officer, Jason M. Eichenholz. “Students, inventors or budding entrepreneurs from life sciences, chemistry, quality assurance, environment, research, industry and other disciplines are all encouraged to apply. We’re hoping to uncover new technologies that help us fulfill our mission to change the world for the better via optical sensing.”

The grants are divided into two phases. Phase I grants are issued to fund further evaluation and development of technologies; up to 10 grants of up $10,000 will be awarded. Phase II grants are issued to mature a proposed technology through proof of concept in a way that enables the potential of market commercialization; up to two of these awards will be granted for up to $100,000 each.

The application process has been kept simple; the entire application for the grant is less than three pages. Applicants are asked to answer two fundamental questions: What is their idea and how will it be implemented or tested? Recipients will be chosen based on scientific prowess, creativity, technical merit and commercial viability.

To learn more about the grant program and application process, watch a short video at http://www.youtube.com/watch?v=_PVHxkvEnVE, visit the program website at http://blueoceangrants.com, or phone Ocean Optics at +1 727-733-2447.

Source: Ocean Optics


Pamela F. Hennessy
Tel: 727.733.2447 X238
Fax: 727.733.3692

E-mail: pamela.hennessy@oceanoptics.com

Web Site: www.oceanoptics.com

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