What does MAD Lab provide?
Our interdisciplinary team provides you with concept validation, market analysis, prototype design or rendering and value proposition. At the end of the project we provide you with a comprehensive report, including market assessment, concept validation, and prior art analysis. The information and analyses will help you acquire additional funding, development, or licensing.
What is my role?
You provide us with the concept/idea that you interested in developing further and partner with us to provide feedback and expertise on the subject. Direct involvement of the applicant is vital to the success of the project. The process may require us to observe the clinical environment. You also are responsible for pursuing any additional funding needed to further your project (i.e. Proof of Concept Funding, and the Chancellor’s Discovery Fund) after MAD Lab development.
How long does a project take?
While every project is different, our goal is to conduct a market assessment, concept validation, early prototype development, and value proposition in 10 weeks.
Once the project has ended, what’s next?
We recommend next steps that are specific to your project in the final report. We can also connect you with potential prototypers or manufacturers if applicable. Additional internal funding opportunities can be found here:
_Proof of Concept (POC)
_Chancellor’s Discovery Fund (CDF)
Who owns the IP (Intellectual Property)?
The IP is owned by the University, but the inventor receives a percentage of any profits (See below for profit breakdown).
Who pays for the patent application?
Once your project is finished MAD Lab will submit a second invention disclosure to the Office of Technology Management. This invention disclosure will cover any new development on the project that happened while MAD Lab worked on it. Once the second invention disclosure is submitted, the Office of Technology Management will assess the new disclosure to decide whether the University will move forward with a patent on the idea. If the Office of Technology Management decides to apply for a patent, the University will cover the cost of the patent and the application. Once a patent is issued, any profits are divided up as follows: 40% goes to the University of Illinois at Chicago, 40% goes to the creator(s), and 20% goes to the University Departments/ Units.