[Atherton Entrepreneurship AWARD]

THE ATHERTON ENTREPRENEURSHIP AWARD

About the award:

The Atherton Entrepreneurship Award was established in 2005 as an incentive to assist Queen’s students, postdoctoral fellows, adjunct professors or research associates under the age of 35 who have been at Queen’s for more than 18 months in the potential formation of an entrepreneurial scientific or engineering business in Canada. The prize is financed by proceeds donated by Prof. David Atherton and the Pressure Pipe Inspection Company (PPIC) of Mississauga, ON.

>> View award fund guidelines.

Award amount:

Applicants may request up to $34,000, including funds for salary for one year, costs related to prototype development and demonstration of concept, and travel expenses.

Application process:
There is no formal application form for this award. Submissions must include resumes of the champion and mentor; a description of the product or service; a draft business plan; and a budget. Applicants must ensure their submissions meet the selection criteria listed below.

>> View selection criteria.

Application deadline:

There is no application deadline. Applications will be reviewed in an as-needed basis. Normally one award per year will be given.

Who to contact at PARTEQ

>> View contact information.

ATHERTON AWARD - TERMS OF REFERENCE

I. Background of the award:

David Atherton and the Pressure Pipe Inspection Company have decided to establish an entrepreneurship award through PARTEQ Research & Development Innovations (PARTEQ). An initial gift of $43,000 was made to Queen’s University at Kingston by the Pressure Pipe Inspection Company in October 2000 to create The Atherton Entrepreneurship Award Expendable Fund. Arrangements for this award were finalized by Bruce Hutchinson, Associate Vice-Principal (Research).

II. Purpose of Fund
The Atherton Entrepreneurship Award Expendable Fund was established to support the charitable objects of Queen's University by encouraging and assisting a Queen’s University undergraduate or graduate student, post-doctoral fellow, adjunct professor or research associate who has been at Queen’s for more than 18 months (hereafter referred to as the “Champion”) and a Queen’s professor/research associate (hereafter referred to as the “Mentor”) with a view to the potential formation of an entrepreneurial scientific or engineering commercial venture in Canada.

III. Fund Guidelines

Funds will be disbursed consistent with the following guidelines:

1. The application process will be managed by PARTEQ.

2. The Vice Principal (Research) will establish award guidelines that may change from time to time in consultation with Professor Atherton during his lifetime.

3. The application for the award will be judged on merit.

4. There will not normally be more than one award per year.

5. The Champion shall normally be under the age of 35 years.

6. The Mentor shall normally be in a tenured or tenure track appointment.

7. The Champion and the Mentor shall contribute a minimum of $10,000 each, part of which may be “in kind”, as approved by the Selection Committee, and must raise an additional minimum total of $10,000 from other sources for investment in the development of the venture.

8. The selection process will include a committee (Selection Committee), chosen by PARTEQ, which will consist of persons with expertise in, or mentoring of such ventures, to determine the merit of the application.

9. Women are especially encouraged to apply.

10. Budgetary requests will normally be for a maximum of $34,000 and may include the following: salary stipend for the Champion of up to $2,000 per month for up to 1 year; and up to $10,000 for costs directly related to the development of a prototype or demonstration of the product/service; and for travel costs.

11. The funds will be awarded to the recipient by PARTEQ under terms established by PARTEQ. PARTEQ shall own a minimum of 3% of the shares of the new company.

12. The award recipient will provide an annual accounting of the funds to PARTEQ. PARTEQ reserves the right to request an audit of the award and related expenses.

IV. Selection Criteria
1. Some demonstrated entrepreneurial interest and or experience/training by both the Champion and the Mentor.

2. The draft business plan.

3. Description of the product/service.

4. Budget and budget justification.

5. Presentation of the proposal (preferentially in electronic form such as Power Point).

6. Resumes of the applicants.

V. Information & submissions:

Please direct inquiries and/or applications to:

Anne Vivian Scott,

Director, Commercial Development

PARTEQ Innovations

P: 613. 533. 2342

F: 613. 533. 6853

E: avivianscott@parteqinnovations.com