A report that describes progress toward commercialization of the project including an updated business model canvas must be submitted at the end of the 6-month period. Milestones (e.g., completion of proof of concept) and deliverables (e.g., prototype or market-image product completion) must be clearly identified. A progress report will also be required prior to any no-cost extension. All unused funds will be returned at the end of the award. Awardees will be asked to give a campus wide seminar on project results hosted by KUIC.