SPARK Awards

Projects are awarded up to $200,000 to develop novel therapeutics, medical devices, or diagnostics. SPARK Fellows will work with the SPARK team to develop commercially-relevant project milestones. 

Funding for SPARK Awards comes from a combination of sources: The State of Colorado Office of Economic Development and International Trade and from CU Anschutz departments.

Developing a digital health solution? Learn more about digiSPARK by contacting [email protected].

Projects are expected to reach a commercial endpoint within 18-24 months. The maximum duration of SPARK Award is 2 years. Additional support from other CU Innovations programs may be considered after 2 years.

SPARK Fellows are assigned a project manager who will work closely with the PI through the lifetime of the project. Project managers are tasked with tracking milestones and timelines as well as connecting awardees to industry experts for product development, regulatory and reimbursement strategy, market analysis, and SBIR development. Teams are expected to meet at least monthly with their project manager.

SPARK Fellows get full access to the SPARK and CU Innovations network of advisors and subject matter experts. Teams will receive a combination of 1:1 advisor support, project-based consultant engagement, and community-based project support.

SPARK Fellows will receive hands-on support and industry outreach by the CU Innovations team. This may include meetings with investors or potential acquirers, presentations at conferences or pitch events, as well as marketing and press opportunities. 

SPARK Fellows attend weekly sessions featuring presentations from awardees or cohort specific educational seminars. Each team provides quarterly updates to the SPARK advisors and receives project-specific feedback from our community. The audience includes industry and subject matter experts, past and current Fellows, and CU Anschutz community members. These sessions are currently held on Wednesday afternoons from 4-6pm MT on Zoom.

• 1^st Wednesday – Oncology Therapeutics
• 3^rd Wednesday – Medical Devices and Diagnostics

Successful teams will have a strong desire and willingness to learn, receive guidance from industry experts, and commit the time necessary to translate their technology from the lab to the marketplace. Teams should expect to commit a minimum of 10 hours per month to commercial development activities, meetings, and events, in addition to lab-based product development/ideation.

SPARK Fellows meet with their project managers at least once a month to track milestones and connect to resources.

SPARK Fellows also expected to attend weekly sessions featuring presentations from awardees or cohort specific educational seminars. Each team provides quarterly updates to the SPARK advisors and receives project-specific feedback from our community. 

• 1^st Wednesday – Therapeutics
• 3^rd Wednesday – Medical Devices and Diagnostics

Time Commitment Summary

• Monthly 1:1s with project manager
• Weekly community sessions, quarterly updates required
• Ad hoc meetings with advisors, consultants, or CU Innovations
• Outside time spent on market research, customer discovery, business model development
• Lab work/product development

SPARK Awards focus on commercial product development and does not support basic science research. Projects coming out of the program will be ready for:

• Licensing technology to an existing company
• Formation of a startup ready for SBIR/STTR submission and/or
• Submission of Advanced Industries Early-Stage Capital and Retention Grant and/or
• Receiving independent financing either through venture capital or non-federal funds
• Major industry-sponsored research agreements