Cancer Research UK (CRUK) is committed to funding groundbreaking projects through the Cancer Tech Accelerator. Projects will be rigorously evaluated based on a comprehensive set of criteria aimed at ensuring their potential for significant impact in the field of oncology. Below are the criteria to guide project selection for grant funding.
- Revenue Model: Clearly defined revenue streams and a viable business model.
- Market Validation: Evidence of market demand, including customer interviews or pilot studies.
- Scalability: Potential for scaling, including international expansion.
Unique Selling Proposition (USP)
- Differentiation: Clear differentiation from existing solutions in the market.
- Intellectual Property: Verification of IP ownership, plans to secure relevant IP and strategy for IP management.
- Competitive Advantage: Sustained advantage over potential competitors.
- Novelty: The project introduces a new concept, application, or solution.
- Technological Advancements: Incorporates cutting-edge technology or innovative applications of existing technology.
- Disruptive Potential: Capacity to disrupt existing practices or markets.
- Effectiveness: Demonstrated ability or strong potential to solve the identified problem.
- Safety and Quality: Compliance with medical and safety standards.
- User Experience: Focus on patient-centric design and usability.
Scientific and Technical Approach
- Methodology: Rigorous scientific methods and protocols.
- Feasibility: Realistic and achievable milestones and deliverables.
- Data Integrity: Robust data collection and analysis plans.
Unmet Patient or Process Need
- Gap Identification: Clear identification of an unmet need in cancer care or research processes.
- Beneficiary Impact: Potential for significant positive impact on end-users or beneficiaries.
- Market Size: Sizeable target market or customer base.
- Market Growth: Growing market or sector.
- Exit Strategy: Clear exit strategy for investors, if applicable.
Team Skills, Capabilities, and Experience
- Domain Expertise: Team members have relevant scientific, medical, or technical expertise.
- Business Acumen: Demonstrated business management skills.
- Advisory Board: Inclusion of experienced advisors or mentors.
- Resourcefulness: Evaluation from the CTA delivery of the project teams’ resourcefulness and entrepreneurial spirit
- Passion and Commitment: Engagement with the CTA programme
Planned Use of Grant Funding
- Budget Justification: Clear and justified budget allocation.
- Milestones: Defined milestones that grant funding will help achieve.
- Sustainability: Plans for sustainability beyond the grant funding period.
Investment-Ready Pitch Deck
- Clarity: Clearly articulated value proposition and business model.
- Completeness: Includes all key areas such as market analysis, financial projections, and team.
- Investor Appeal: Crafted in a manner suitable for approaching venture capital investors.
If you are applying as a company that has already spun out, it is imperative that you receive support from the founding academic and TTO for the intellectual property upon which your company is built. For companies, if there is an academic collaborator with relevant background IP, they must either i) be a co-applicant or ii) have provided formal support for the application.