WTC’s “Technology as a Tool” program awards up to $20,000 towards funding research necessary to help Washington-based technology companies increase their profitability. A complement to the organization’s research grant program, Technology as a Tool helps fund university research studies for work that augments products and services the company already has in place or is in the process of developing. Grant money can be used for operational improvements at this level.
While WTC’s research grant program is aimed at funding research that directly results in new product development, Technology as a Tool focuses on research partnerships with the potential to optimize a technique or process and that, while not necessary resulting in the creation of a new product, adds direct value to a product or process necessary to improve the company’s performance in the market place. Examples of this type of research include market analysis and optimization studies.
WTC saw the value of offering a grant program that would allow Washington companies to benefit from academic research beyond direct product development. The Technology as a Tool program opens doors for companies to fund research partnerships for optimization or process improvements which in turn may be critical to their long-term commercial success.
Related WTC links:
– end of post –