Proposal Support Program Details

The objective of the Michigan Proposal Support Program is to address comments, questions and concerns raised by the OC during the Initial Review meeting, to help project teams with new product strategic planning, and refine milestones and budgets as needed.  The culmination of PSP will be a due diligence review for the OC, along with recommendations on the proposal plan, budget and pitch for funding at the Selection meeting.

Through PSP activities, we will answer three fundamental questions in addition to specific questions raised by the Coulter OC:

1) Does the envisioned product address a true unmet clinical need that health care providers and payors are willing to invest time and money solve?

2) Is there a viable business opportunity?

3) Will the proposed early-stage product development approach de-risk and advance the project towards generating investor or industry interest in the product concept?

These are the questions the Coulter Oversight Committee will have in mind when evaluating project pitches for funding at the Coulter Project Selection meeting.

Coulter will provide up to $15k in funding as part of the PSP to cover market market research related expenses.  The market research will involve professionally moderated market research interviews with key stakeholders to examine current practices and elicit feedback on envisioned product concept.  The Coulter team will conduct competitive landscape assessments with support from Innovation Partnerships.

Coulter will solicit feedback from mentors in residence from Innovation Partnerships and volunteer industry mentors with relevant experience to provide insights related to the target product profile and milestone refinement.  Through this process, teams will gain a greater understanding of the commercial potential and unique value proposition for their envisioned product and relevant milestones that Coulter can fund to de-risk and generate follow-on funding and investor interest.