Once a team submits a declaration of intent for the CoMotion Innovation Gap Fund Awards Competition, they are paired with a CoMotion mentor, who assists with preparing business-related milestones and deliverables. They also attend a pitch practice session where they receive feedback and advice from other mentors from the innovation and investment community. Research teams going through the competition process are also encouraged to access other CoMotion resources like Round Robin Feedback Sessions, ZAP! Workshop for customer discovery, and Fundamentals for Startups events at CoMotion Labs.
The final Innovation Gap Fund Awards review committee consists of CoMotion and WRF staff, industry executives, and local investors. Once winners are selected, the award grants up to $40,000 for each project, with an additional $10,000 reserved for business development milestones. Awardees are encouraged to use funds for product development and marketing purposes such as creating prototypes, completing code, and researching customer demand.