Scientists can now apply to a €10 ($14.3) million fund aimed at helping academic researchers package their 'blue sky research' into ideas that appeal to investors. The European Research Council (ERC)—the first pan-European science funding agency—is offering proof of concept (POC) grants of up to €150,000 ($215,200) to allow existing grant holders to demonstrate the commercial potential of their work. The aim, according to the ERC, is to speed the outcomes of research into the marketplace. Investigators awarded POC grants will have 12 months to package their research to make it attractive to venture capitalists or companies looking to in-license technologies. The money can be spent on setting up a company, clarifying intellectual property rights, carrying out market research or validating a technology. However, POC grants are for preparatory work only—not to commercialize an idea or develop a novel technology—leaving it up to grant holders to decide if they want to be involved in the commercialization of their research. ERC President Helga Nowotny points out that they are “looking at ways to make the ERC more attractive to industry.” Nowotny envisages that as the scientific and technological outcomes of ERC research projects, including those supported by POC funding, gain visibility “startup companies will take up results produced by ERC grantees and develop them further towards innovation.” The deadline for POC applications is June 15. Nuala Moran