UTSA alumna’s medical device receives $150K UT System investment
The UT Horizon Fund recently invested $150,000 to fund Cardiovate, a San Antonio-based startup that is using technology from two University of Texas System institutions to commercialize a medical device to treat vascular diseases by repairing blood vessels. The UT Horizon Fund — a formative-stage venture fund created by the UT Board of Regents that […]
U of Chicago ExplORer Surgical Announces $1M Seed Round
ExplORer Surgical, a leading developer of an intraoperative workflow management tool for surgery, announced today the closing of $1 million in seed round funding. Investors include CJM Ventures, M25 Group, SymphonyAlpha Ventures, The University of Chicago Innovation Fund, Wasson Enterprise, as well as prominent healthcare and technology angel investors. ExplORer prevents delays & disruptions that […]
Michigan Economic Development Corporation to provide more money for entrepreneurship, innovation
The Small Business Development Center, Invest Detroit, Automation Alley and TechTownare some of the beneficiaries of a budget increase for support of entrepreneurship and innovation by the Michigan Economic Development Corp. for the fiscal year that begins Oct. 1. According to Emily Guerrant, MEDC vice president of marketing, the budget for entrepreneurship and innovation has […]
University of California Is Putting Money Into an Alumni VC Fund
The University of California is giving its student entrepreneurs a big endorsement. During a scheduled public meeting of its regents’ finance committee on Friday, the school revealed that it has invested into the House Fund, a young $6 million fund. The fund, established by UC Berkeley alumnus Jeremy Fiance, focuses on very early stage startups […]
PepsiCo extends innovation fund to educational institutions
Eligible colleges and universities will have the opportunity to submit sustainability project proposals to PepsiCo Recycling that present tangible environmental, economic and social impacts. The proposals will also need to demonstrate the ingenuity, scalability and evident student community support for the proposed project to receive funding. PepsiCo recycling programme director Meagan Smith said: “Great ideas […]
U Queensland Inflazome closes US$17m Series A financing round from Novartis Venture Fund
Inflazome (inflazome.com) has successfully closed a Series A financing round for up to US$17/€15 million. Two leading life sciences venture capital firms, Novartis Venture Funds and Fountain Healthcare Partners, co-led the financing. Inflazome is developing inhibitors of the inflammasome, a compelling biological target that regulates our innate immune response, now associated with a wide variety […]
Mind the Gap Summit: Create and Manage a Proof of Concept Gap Fund
From our analysis of over 50 University-affiliated Proof of Concept programs, we have observed their strength in moving technology to a point of commercialization, while acting as an effective means to leverage and attract outside capital and expertise.
Proof of Concept (POC) gap funds evaluate commercial potential, demonstrate the value, and generally de-risk (or perception of risk) the project to commercial partners or investors. Achievements like prototypes and commercial assessment help to identify and secure a route to commercialization, if one exists. POC funds also identify weakness in the technology for further development, or help avoid costs by deciding not pursue the technology
These funds are often administered centrally through the technology transfer office, research foundation, central research administration, or the equivalent at the college-level. Externally-partnered public funds, accelerators, and corporate funds run independently or in close collaboration with the research institution.
$5.9 million for Red River College research, vehicle test facility
Red River College has received the largest influx of research funding since founding its research enterprise in 2004. This new investment will allow Red River College to boost innovation capacity in Manitoba’s vehicle technology and food development sectors. “This is a red-letter day for the College, our partners, and for Manitoba’s innovation outlook in general,” […]
iBIO Institute’s PROPEL Center Is Winner of U.S. SBA’s Growth Accelerator Fund Competition
The PROPEL Center of the iBIO Institute, dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois, announced today that it was a winner of the U.S. Small Business Administration’s 2016 Growth Accelerator Fund Competition, including a cash prize of $50,000. The SBA Office of Investment and Innovation, Office of Native American Affairs, […]
University of Calgary awarded $75-million research grant for cleantech, energy
The University of Calgary has been awarded $75 million over seven years from the Canada First Research Excellence Fund (CFREF) for its Global Research Initiative in Sustainable Low Carbon Unconventional Resources. The goal of this research is to dramatically reduce the impact of energy extraction and energy use on the environment. The funding is part […]