ERC Proof of Concept Grant Agreement: A Comprehensive Guide for Researchers
The European Research Council (ERC) supports innovative research ideas with its Proof of Concept (PoC) grant. This grant is meant for ERC grantees who want to explore the commercial or societal potential of their ERC-funded research. If you are an ERC grantee and believe that you have a promising innovation, then you can apply for a PoC grant.
To receive the PoC grant, you need to sign an agreement with the ERC. This agreement defines the terms and conditions of the grant, including the rights and obligations of the grantee and the ERC. In this article, we`ll explore the ERC PoC grant agreement and its key provisions.
1. Grant Amount and Duration
The ERC PoC grant agreement specifies the amount of the grant and its duration. The grant amount varies depending on the project`s needs and can be up to € 150,000. The duration of the grant is up to 18 months, during which the grantee should use the funds to explore the innovation`s commercial or societal potential.
2. Intellectual Property Rights
The ERC PoC grant agreement outlines the intellectual property (IP) rights of the grantee and the ERC. The grantee retains the ownership of any IP generated during the PoC project. However, the ERC has the right to use the results of the project for its own evaluation and dissemination purposes.
If the grantee wants to exploit the results commercially, they need to obtain a license or transfer the ownership of the IP to a third party. The grantee must inform the ERC about any IP exploitation activities and share the revenues generated from them.
3. Reporting Requirements
The ERC PoC grant agreement mandates the grantee to submit regular reports to the ERC. The grantee should provide a progress report at the end of the first 12 months and a final report at the end of the project`s duration. The reports should describe the activities carried out, the results achieved, and the changes made to the project plan.
4. Audit and Financial Monitoring
The ERC PoC grant agreement allows the ERC to audit the grantee`s financial and administrative records related to the project. The grantee must maintain proper records and retain them for at least five years after the project`s completion.
The grantee should also submit a financial statement at the end of the project, detailing the expenses incurred and the revenues generated from any IP exploitation activities.
5. Termination and Suspension
The ERC PoC grant agreement allows the ERC to terminate or suspend the grant in certain circumstances. The ERC can terminate the grant if the grantee breaches any of the agreement`s terms or if the project`s results are not satisfactory. The ERC can also suspend the grant if it believes that the grantee is not using the funds appropriately.
The ERC PoC grant agreement is a crucial document that outlines the terms and conditions of the grant. As an ERC grantee, you need to understand your obligations and responsibilities under the agreement. By following the agreement`s provisions, you can effectively explore the commercial or societal potential of your ERC-funded research and achieve your innovation`s full potential.