EON Reality Inc.
18 Technology Drive, Suite 110
Irvine, CA 92618 United States
The purpose is to assist academic institutions in their research as a part of the post-pandemic recovery.
EON Reality’s Research Grant Program provides academic institutions with the support to fund the launch of such research in the post-pandemic world based on decades of experience working with governments and intergovernmental agencies, EON also helps to initially provide grants and identify the initial grant to kickoff the research, and provide additional grants to cover a significant amount of the cost to launch a new XR initiative for qualifying partners.
EON Reality’s Research Grant Program is intended to provide support for the following purposes:
- Research in digital twin technologies
- Merged XR technology
- Spatial XR meetings
- Knowledge metaverse
Only invited candidates are eligible for the Research Grant Program. The program has been developed for organizations that are seeking XR-based research solutions and opportunities to commercialize their research and currently lack the required platforms and funding to conduct such research.
III. How does it work?
If the Application is approved, EON Learn of Life issues a Certificate of Approval and EON Reality and the Applicant sign an Offer Letter to set up a research study as follows:
- Upon EON Reality and the Local Partner sign the Offer Letter agreement to set up the EON Program, EON Reality shall deliver the EON-XR Platform followed upon release the Merged XR Platform and Spatial Meetings Platforms for 5000 students & 750 work/internships upfront & Hardware. All licenses are Perpetual for Usage of created lessons. EON also provides an option to cover 98.4% of the creation licenses for year 2-5 through the Grants.
- EON Reality guarantees hereby a $15,044,992.50 Grant in form of an in-kind co investment from EON and a donation through EON Reality Learn for Life to cover the 100% cost of the EON-XR Program for Year 1.
- The Local Partner has an Option but not an obligation to extend the Offer Letter for Year 2 to 5 and receive additional grants representing an additional total value of $45,134,977.50 that covers 98.4% cost of the EON Program for 5 years.
- Upon EON Reality’s delivery of the EON-XR platform, the Local Partner shall pay a grant a one-time guarantee fee of 1.67% of the EON-XR Program value i.e., a total $250,000 within five (5) days after the delivery of the EON-XR Platform Licenses.
IV. Grant Process
Only applications received by September 30, 2022 will be considered. The seven steps grant procedure is as follows:
- Introduction Meeting – Introduction of the Research Grant Program (RGP).
- Application Submission – Submission of Online Application, there are no financial obligations, binding commitments, or any liabilities with submitting the application.
- Committee Determination – All applications are reviewed by the RGP Committee and subject to determination within 10 days after receipt
- Certificate of Approval – If the application is approved, a Certificate is issued for an amount around $15 million USD to establish the research study for up to 5,000 students and 750 work/internships based on the merits of the Application
- XR Solution Meeting – Deep Dive EON-XR Platform demonstration for XR deployment at scale
- Offer Letter – After being approved, the Applicant receives the Offer Letter. The Applicant has up to 45 days to approve or decline the Offer Letter and Grant Guarantee
- Delivery and Implementation Plan – EON delivers the research study along with the pedagogical and technical XR experts and starts implementing the Academic EON-XR Program
The Certificate of Approval is valid for 45 days. If the Offer Letter is not signed by both parties within 45 days, the Certificate of Approval expires, and the grant is repatriated to the Learn for Life Foundation for the next Applicant.
V. Review and Award
- There are no financial obligations, binding commitments, or any liabilities with submitting the application
- If your organization gets approved, you will receive a certificate which is valid for 45 days
- The Research Grant Program Committee, consisting of EON’s Advisory members, will determine the overall quality of each Grant application
- Applications will be evaluated in accordance with the criteria outlined below
- Additional consideration will be given to the Applicant’s potential for carrying out the project, the time commitment, and the adequacy of the justifications presented
- All applications will be forwarded to the Research Grant Program Committee for final approval and be reviewed within 10 days after receipt
- If recommended for approval, it will be assigned a score by the Committee which will determine the amount to be received based on the merits of the application
- During this time, you can approve or decline the offer letter and grant
- After receiving your application, EON Reality will take time to go through the agreement with you
For additional information, contact:
EON Reality Inc.
18 Technology Drive, Suite 110
Irvine, CA 92618
VI. Evaluation Criteria
Once your application is admissible and eligible, EON’s Research Grant Program Committee follows the below evaluation criteria during the evaluation.
Proposals are evaluated and scored against selection and award criteria – organization excellence, commitment towards research in digital twin technologies, Merged XR technology, Spatial XR meetings, knowledge metaverse, and provided experience in the fields outlined in the questionnaire below.
The Research Grant Program Committee will score each award criterion on a scale from 0 to 5 (half point scores may be given):
0 – Proposal fails to address the criterion
1 – Poor. The criterion is inadequately addressed or there are serious inherent weaknesses.
2 – Fair. The proposal broadly addresses the criterion, but there are significant weaknesses.
3 – Good. The proposal addresses the criterion well, but a number of shortcomings are present.
4 – Very good. The proposal addresses the criterion very well, but a small number of shortcomings are present.
5 – Excellent. The proposal successfully addresses all relevant aspects of the criterion. Any shortcomings are minor.