States – Idaho

Idaho Resources

IGEM (Idaho Global Entrepreneurial Mission) Grant Program

Carmen Achabal
IGEM Program Manager
(208) 780-5146
Carmen.achabal@commerce.idaho.gov

Purpose of Initiative

The IGEM grant program funds commercialization research involving both university researchers and business experts. Through its support of commercialization partnerships, IGEM invests in the development of new businesses and supports research facilities located in Idaho—creating new products, companies, and jobs while simultaneously increasing the research capacity of Idaho-based universities. The grant program was created to advance the growth of the state economy through commercializing research at Idaho’s three public research universities: Boise State University, Idaho State University, and the University of Idaho. The Idaho Department of Commerce disperses $950,000 in funds directly to Idaho’s public research universities for projects approved by the IGEM Council.

Award Details

The IGEM program has an annual budget of $950,000. IGEM has funded grants ranging from $41,000 to $427,000. There is no limit on individual grant amounts. Projects are typically funded for one year; however, the IGEM Council has funded projects for periods of time greater than one year, based on the project’s merit and milestones. The IGEM Council—a 12-member group appointed by the governor—is responsible for vetting applications in order to mitigate risk and award IGEM funding to those most likely to yield a high return on investment. IGEM is a publicly-funded program.

Eligibility

Applicants must have an industry partner and a university partner. The university must be one of Idaho’s three public research universities (Boise State University, Idaho State University, or the University of Idaho).

Application Process

The IGEM program accepts applications throughout the year and the IGEM Council meets periodically throughout the year to review applications. For more information, please refer to the website.

Idaho SBDC Phase 0 Program

Dave McEwen
Idaho SBDC
2360 W. University Drive, Suite 2147
Boise, ID 83725
(208) 297-8433
davemcewen@boisestate.edu

Purpose of Initiative and Award Details

The Idaho SBDC Phase 0 Program offers up to $3,000 for a successful submission of an approved SBIR or STTR proposal. The reimbursement (of up to $3,000) can cover tasks directly related to writing the proposal; travel costs to learn about SBIR/STTR or learn how to write the proposal; and costs of approved third-party review of the proposal prior to submission. If the above costs do not exceed $2,000, the reimbursement is limited to $1,000. Applicants must have proof of expenses (labor charges, receipts, invoices, etc.).

Eligibility

To be eligible for the program, companies must be independently owned and operated, with fewer than 500 employees. The company must be at least 51% owned by a US citizen. The applicant company should be the Principal Investigator’s primary place of employment. The company must also be registered with the Idaho Secretary of State, conduct at least 51% of the research described in the proposal in Idaho, and they must be Idaho-based (for tax filing purposes). The proposal must be reviewed by an expert (SBDC approved) in the SBIR/STTR review process or by someone who has successfully been awarded at least one SBIR/STTR award. It is also required that the research team include a research faculty member at a university or national lab—or a researcher who has left a university or national lab after establishing significant research credentials at that institution. Only one award per company is allowed in the fiscal year for which the Phase 0 budget is established.

Application Process

Interested companies can fill out the Phase 0 application (4-5 pages, maximum), fill out a W9 form and provide receipts and invoices to document expenses, provide proof of successful proposal submission, and sign a contract with the SBDC.

Boise Angel Alliance

Boise Angel Alliance
admin@boiseangels.com

Purpose of Initiative

The Boise Angel Alliance provides capital to Idaho-based, private, early-stage businesses. Since 2007, the Alliance has invested in over 30 Idaho-based companies. The Boise Angel Alliance prioritizes companies in the Treasure Valley area; however, they also allocate a portion of the fund to invest in startups around the country, which are syndicated by other Angel Groups.

Awards and Eligibility

No two investment deals are the same. Overall, the Boise Angel Alliance looks for companies with strong leadership; revenue-positive companies or startups ready to generate revenue; unique and sustainable business models; sizable market and opportunity for growth (there should be potential for the company to reach at least $10 million in sales within five years); and companies must have a viable exit strategy. The Boise Angel Alliance only invests in SEC Rule 506(b) exempt offerings (private offering to accredited investors). They do not invest in SEC Rule 506(c) offerings (public offering to accredited investors) or companies that have previously raised funds under a Rule 506(c) exemption. They prioritize investment in Boise-based companies, with a secondary priority on companies in Southwest Idaho. The organization expects to invest in C Corporations—companies must either be a C Corporation at the time of application, or willing to convert to a C Corporation at the time of investment. They prefer to invest in convertible preferred stock, but will consider some convertible notes. Proceeds of the stock sale cannot be used to pay off loans.

Application Process

Interested companies—particularly early-stage companies in the Treasure Valley area—are encouraged to begin the application process by first downloading the initial application. If the company’s application meets the organization’s investment criteria, the company will be invited to submit financials, capitalization table, and a pitch deck. A pre-screen meeting will then be scheduled so that the company can present their pitch. Upon passing the pre-screen interview, the Screening Chair will extend an invitation for the company to pitch to the Screening Committee (pitches are 10 minutes in length, with 10-15 minutes for Q&A). If the Committee decides to advance the business, they will then meet with the Due Diligence team, answer additional questions, and submit additional documents. The Due Diligence team conducts its review, negotiates the terms of the investment, and prepares a report for all members to review. The company will then be presented to the BAA membership at a member meeting—enabling members to listen to the pitch and ask questions. Members will vote on whether or not to make the investment. Assuming a favorable vote, fund representatives will work with the company to address any pre-close conditions, sign documents, and issue a check.

Jean’ne M. Shreeve NSF EPSCoR Research Excellence Award

Rick Schumaker
Idaho EPSCoR
University of Idaho
875 Perimeter Drive, MS 3029
Moscow, ID 83843
(208) 885-7102
rschumak@uidaho.edu

Purpose of Initiative

The Jean’ne M. Shreeve NSF EPSCoR Research Excellence Award recognizes the accomplishments of faculty members at Boise State University, Idaho State University, the University of Idaho, or other state institutions of higher education that have previously been active participants in the NSF EPSCoR program. The award may recognize a single significant contribution or collective significant contributions that have received national or international recognition.

Award Details

The award includes a plaque, a monetary award of at least $5,000, and an additional amount (approximately $5,000, as of 2016) to support the cost of research or professional activities that contribute to the productivity of the award winner.

Eligibility

To be eligible for this award, applicants must hold the rank of tenured associate professor or tenured full professor at the University of Idaho, Boise State University, Idaho State University, or any other eligible institution at the time the award is made. The applicant must also have a research career that was advanced by NSF EPSCoR and an outstanding publication record (where they were an author or co-author in refereed international journals). They must be engaged in ongoing, externally supported competitive research programs that involve students or postdoctoral coworkers.

Application Process

Nominations of eligible faculty members can be made on an annual basis. A full curriculum vitae, a letter of nomination, two letters of support from internationally acclaimed practitioners, and up to three letters from former or current co-workers are required. Electronic copies of the nomination materials can be emailed to Rick Schumaker at rschumak@uidaho.edu.

Updated March 2018 by Kristen Johnson

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