The Harvard Office of Technology Development (OTD) is responsible for all activities pertaining to the evaluation, patenting and licensing of new inventions and discoveries made at Harvard University and Harvard Medical School. OTD also serves to further the development of Harvard technologies through the establishment of sponsored research collaborations with industry. OTD's Accelerator Fund had a committed capital of $1 million for 2011 to support investigator-initiated projects through proof-of-principle. The Fund has been structured as an 'evergreen' fund, thus helping to support further innovation and applied research at Harvard.