BEACON FOUNDATION MISSION STATEMENT

The BEACON Foundation was established to serve as an engine of innovation in the field of bioscience and bioengineering and as a source of private funding to individuals, academic institutions, and medical institutions engaged in research and development activity intended to advance knowledge in these fields.

Toward this end, the Foundation seeks to:

• Support basic and applied research and development efforts in areas relating principally to biomechanics, biomaterials, biosensors and instrumentation, bioinformatics, medical imaging, rehabilitation engineering, artificial organs, tissue engineering, biochemical engineering and biotechnology through the provision of research grants;

• Raise public awareness regarding issues, opportunities, and advances in bioscience and bioengineering and – through education, outreach and advocacy – draw attention to the need for and impact of innovation in these fields;

• Foster an environment that optimizes the development and delivery to commercially viable innovations in biomedical science and engineering for healthcare applications.

BEACON Foundation is a 501(c)(3) non-profit corporation able to receive major gifts from individuals, organizations, or foundations, with the express purpose of supporting additional research and development efforts in the field of bioscience and engineering with a major focus on medical devices and systems.

The BEACON Foundation
P.O. Box 260069
Hartford, CT 06126

The goals of the BEACON Foundation are:

1. to support basic and applied research and development efforts related to advances in the field of bioscience and bioengineering by providing research grants; and,
2. to educate the public regarding advances in these fields.

FUND RAISING ACTIVITIES

The BEACON Foundation raises money to grant funds in support of research and development efforts in the realm of bioscience and bioengineering. To accomplish this goal, the BEACON Foundation:
1. Solicits research and development projects of interest to the members of the BEACON Alliance and develops a proposal to specific foundations to raise monies to support these efforts.
2. Receives monies from benefactors to support specific areas of research and development primarily in the realm of Biomedical Engineering which includes the disciplines of biomechanics, biomaterials, biosensors and instrumentation, bioinformatics, medical imaging, rehabilitation engineering, artificial organs, tissue engineering, biochemical engineering, etc. The grant-making process outlined here shall be the basis for more comprehensive grant-making policy and procedures, to be adopted by the Board and amended from time to time.
3. Receives monies from foundations to develop and present educational programs to inform the public about the latest advances in medical technology, entrepreneurism and the commercialization process and the moral and ethical issues related to new discoveries.

CRITERIA FOR RESEARCH GRANTS

Funds will be made available primarily to individuals from accredited academic and medical institutions, with particular attention paid to basic and applied research in the field of bioscience and bioengineering conducted by BEACON members. Eligible individuals must be full-time employees within their respective institutions.

Funds will be made available primarily to support pilot studies that are often necessary to increase the likelihood of further funding by federal and state agencies, and the development of prototypes that serve to confirm the “proof of concept” related to a new innovation. The Foundation reserves the right to issue requests for proposals (“RFP”) in specific areas of concern or interest for each round of research funding, but may also review and fund unsolicited proposals.

EDUCATION GRANTS

On a case by case basis, the Foundation will consider proposals or grant requests to fund, in whole or in part, educational symposia related to the field and recent developments in research in the biomedical and bioengineering fields. In addition, the Foundation may undertake to plan and implement symposia or other educational forums or methods of educating the public in these areas on its own, either by grant or contract, subject to the review and approval of the Board.

GUIDELINES CONCERNING APPLICATIONS

An application should be in the form of a letter and a one-to-two page narrative providing a rationale for the project, its value to improving diagnostic or treatment protocols and its potential value of commercialization, i.e. relative potential market. In addition, a one-page budget should be provided along with justification of specific line items.

The Directors meet periodically to consider grant requests. Applicants are advised of awarded grants after Board review and approval. Accordingly, unsolicited applications should be filed at least three months before the grantee will need to be notified.

For specific projects funded by other foundations/agencies and administered by the BEACON Foundation, there will be an invitation or RFP announcement with specific instructions and dates for that project.

Adopted 12/20/04
Amended 10/0305

THE BEACON FOUNDATION, INC.
2007 BOARD OF DIRECTORS: