I³R and VentureWell Invite University Teams to Apply for Innovation Pilot Program

The Institute for Integrative and Innovative Research (I³R) is collaborating with VentureWell on a new program designed to empower university teams of faculty, researchers, student innovators and industry experts to address transportation challenges in the region.

The FLIPspace: Advanced Mobility Northwest Arkansas pilot program is a seven-month program in which teams of three will have exclusive access to federal intellectual property through a partnership with the Federal Laboratory Consortium for Technology Transfer. Teams will develop novel approaches to challenges in mobility such as developing and optimizing next-gen vehicle technology, AI systems for traffic, electric vehicle design, among others.  

"We are excited to partner with the Federal Laboratory Consortium on this innovative program, bringing cutting-edge innovations to Northwest Arkansas. By fostering commercialization and showcasing the entrepreneurial spirit of local innovators, we're empowering Arkansas entrepreneurs to drive the state's economic growth," said Demetria Gallagher, vice president of VentureWell Higher Education Innovation Ecosystems. 

In a variety of modules and workshops throughout the seven months, participants will undergo comprehensive training in the following areas:  

• Technology Transfer: Understanding the intricacies of licensing and leveraging federal intellectual property.

• Lean Startup Methodologies: Building and testing business models efficiently.  

• Design Thinking: Employing user-centered design to innovate solutions.  

• Patent Fundamentals: Navigating intellectual property rights.  

• Venture Capital: Exploring funding opportunities for startup ventures.  

"This is a unique program for innovators in Arkansas. Teams will be able to develop groundbreaking technologies to address challenges in their communities, economies, and industries with unmatched mentorship that can kickstart ideas into market-ready realities," explained Dr. Meredith Adkins, assistant research professor at I³R. 

Supported by the FLC FLEX Program, participants will refine their market research skills and evaluate federal technologies in a competitive business landscape. The program will culminate in a high-stakes pitch event in 2025 where teams will present their business models to Highway Ventures, an Arkansas-based venture studio, for potential incubation and funding.   

"This is an excellent opportunity for individuals passionate about solving real-world problems while learning how to transform research into a viable company," added Tara Loomis, Director of VentureWell Federal Innovations. 

Key Dates & Application Information

Applications are open now until Oct. 23. Two informational sessions will be held virtually, the first at 3 p.m. CT Wednesday, Oct. 9, and the second at 11 a.m. CT Friday, Oct. 11. More information can be found on the program's website.

Teams should consist of three members who are passionate about innovation and entrepreneurship in advanced mobility. At least one team member must be a student affiliated with a university.  

About the Institute for Integrative and Innovative Research (I³R): Established through a transformational gift from the Walton Family Charitable Support Foundation, the University of Arkansas Institute for Integrative and Innovative Research pioneers solutions to wicked problems through convergence research across academic, industry, government and non-profit sectors to make a positive societal impact by creating and deploying innovations at scale. Learn more at i3r.uark.edu.  

About VentureWell: VentureWell supports the cultivation of an emerging generation of science and technology inventors and the innovation and entrepreneurship ecosystems that are critical to their success. Since its founding in 1995, VentureWell has funded or trained over 16,000 science and technology inventors and innovators, resulting in the emergence of nearly 3,900 ventures with groundbreaking technological advancements in fields like biomedicine and healthcare, sustainable energy and materials, and solutions for low-resource settings. The startups they have supported have raised subsequent funds totaling over $5.6 billion and are reaching millions of people in 50 countries. Visit venturewell.org to learn more.