Bench-2-Bedside Post Competition Award Funding

Competition funds are awarded the night of the closing event only, and are of varied amounts.  YOU HAVE 1 YEAR FROM THE DATE OF THE COMPETITION TO USE YOUR FUNDS.

A few rules to keep in mind when submitting for award funding:

  • You cannot pay yourself I.E.: use funds for personal rent, tuition, food etc…
  • Computers, tablets, gaming consoles, etc… must include written justification for its need to help develop the project, must be signed off by each team member and approved by the B2B committee.
  • To have the funds released directly to you, your team must have company status. NO EXCEPTIONS.

There are three ways to redeem your winnings:

  1. Direct Payment: The Center for Medical Innovation can pay a service provider (someone you have hired) with a check or department credit card.
  2. Purchasing Card: The Center for Medical Innovation can use a department purchasing card to help you with various purchases.
  3. Release of funds to team formed company: This request will be reviewed by CMI and must be signed off by all members on the winning B2B team.

Bench-2-Bedside Purchase Order Overview

Below is a guide to submit purchase orders using your award funds. Please read through each form overview for instructions and to determine which is best to submit.

Bench-2-Bedside Award and Milestone Funding Payment to Service Provider with Check

This form is to be used for Award and Milestone funding and is to pay a company that will do or has done work for your project. You cannot hire Students or Employees. If the company you are using will accept Credit Cards please fill out the “Bench-2-Bedside Award and Milestone Funding Payment to Service Provider with Credit Card”

Steps to Submit for purchase:

  1. Click on the Pay Provider with Check link under the Post Competition Funding tab and complete the form.
  2. Attach W9 from Company to be paid
  3. Attach the Invoice from Company
  4. Attach the Scope of Work Agreement signed by both parties (this can be found under the Other Documents tab).

Bench-2-Bedside Award and Milestone Funding Payment to Service Provider with Credit Card

This form is to be used for Award and Milestone funding for work performed by a company that will accept a credit card as payment and has invoiced for the work performed. 

Steps to submit for purchase:

  1. Click on the Pay Provider with Credit Card link under the Post Competition Funding tab and complete the form.
  2. Attach the Invoice from Company

Bench-2-Bedside Award and Milestone Funding Purchase of Items from Store or Online with Credit Card

This form is to be used for Award and Milestone funding to purchase items from a store or online for your project. This is the most common form used. All items are purchased for you by CMI and you will be informed when the items arrive for you to pick up.

Steps to submit for purchase:

  1. Click on the Purchase Items with Credit Card link under the Post Competition Funding tab and complete the form.
  2. Attach a PDF list of the items you would like purchased with name, quantity and cost. It is best to paste the actual links next to each item to ensure that the correct items are being ordered.

Bench-2-Bedside Award and Milestone Funding Release of Funds to Team Formed Company

This form is to be used for Award and Milestone funding to release your award to a team formed company.

Steps to submit for purchase:

  1. Click on the Release Funds link under the Post Competition Funding tab and complete the form.
  2. Attach your Company W9.
  3. Attach the signed agreement from all team members.

Bench-2-Bedside Award and Milestone Funding Release of Funds for Travel

This form is to be used for Travel Reimbursement. Travel is a great way to identify and reach out to your target market, assess their needs and pivot your project to best serve customers. We encourage teams to use their funds to do some market research. Travel must be pre-approved, if you are attending a conference please justify how it connects to your project and how you might better assess the needs of the market by attending it. All receipts must be the original receipt to be reimbursed. Any copies cannot be accepted or reimbursed.

Steps to submit for purchase:

  1. Click on the Release Travel Funds link under the Post Competition Funding tab and complete the form.
  2. All receipts; hotel, airline and commuting (taxi, shuttle or metro) must be brought into CMI.
  3. Attach itinerary from the trip or conference.
  4. Attach the signed Itemized Travel Breakdown of Reimbursement form (this can be found under the Other Documents tab).

 

Bench-2-Bedside Milestone Award Funding

Milestone funding is awarded by application only. It is usually small dollar amounts, between $250-500 dollars. Any Bench-2-Bedside team who competed is eligible. The application process is as follows:

Apply here

Attach an itemized list of your projected needs with their associated costs.

The committee will review those and you will be awarded all, none, or some of our requested funding amount.

Once your funds have been approved you can redeem them using one of the B2B Award/Milestone forms.

If you have any questions regarding this process, please contact Megan McIntyre at megan.mcintyre@utah.edu. Please make sure you have read all sections of this overview before emailing Megan.