CIT GAP Funds 2019 Impact Report Showcases $28.8 Million in Capital Deployed to Date
The Center for Innovative Technology (CIT) today released the 2019 CIT GAP Funds Impact Report, detailing both return on investment and socio-economic impact made since the fund’s inception in 2005. A family of funds placing equity investments in Virginia’s high-growth based technology, life science, and cleantech companies at the earliest developmental stages, CIT GAP Funds […]
AI2 Incubator hatches $10M fund for startups with VC support
Seattle’s Allen Institute for Artificial Intelligence is kicking things up more than a notch for AI startups with a $10 million pre-seed fund for its incubator program. The AI2 Incubator’s fund is backed by some of the nation’s top venture capital institutions, such as Seattle’s Madrona Venture Group, Silicon Valley’s Sequoia Capital and Kleiner Perkins, and New York’s Two Sigma Ventures. But wait … there’s […]
Saudi Aramco Energy Ventures Plans New 0M Fund Targeting Renewable Energy
Saudi Aramco’s corporate venture capital arm is preparing to launch a new $500 million fund to invest in energy efficiency and renewable energy solutions as well as new oil and gas technologies. Saudi Aramco Energy Ventures (SAEV), a subsidiary of the kingdom’s state-owned oil producer, has also opened an office in Beijing and plans to scale […]
UPMC Enterprises commits $1 billion to life science investments
A corporate arm of UPMC will invest $1 billion over the next four years to develop new drugs, medical diagnostic and other devices by 2024, cranking a nascent economic engine in the Pittsburgh region while becoming a giant in venture funding for life sciences in Pennsylvania. The commitment announced Tuesday by UPMC Enterprises, the venture […]
TEDCO’s Maryland Innovation Initiative Infuses $2.63M in New Round of Projects
COLUMBIA, Md., Jan. 8, 2020 /PRNewswire/ — TEDCO, Maryland’s economic engine for technology companies, announced its recent round of funding for select projects through the Maryland Innovation Initiative (MII). This round of funding includes project grants for technology assessment and investments in the spin-out companies, from its five partner universities for a total of $2.63M. Established in 2012, the MII program was created […]
New investment fund validates momentum of Memphis startup ecosystem
The creation of a $1.3 million pre-seed investment fund aims to be another catalyst in developing Memphis startups. On Dec. 18, Epicenter and Emerge Memphis announced the fund — the result of the sale of the Emerge Memphis building at 516 Tennessee St. back in February. The buyer, Anchor Investments, plans to continue Emerge’s mission […]
New research from UGA evaluates design of startup accelerators
New research from the University of Georgia links startup accelerator success with a few key program elements, such as mentorship and open discussion among participating startup founders. Papers co-authored by Susan Cohen examined the variation among several accelerators. Accelerators are fixed-term, cohort-based educational programs for startups. There are about 170 accelerators located across the country, […]
Philanthropic support catalyzes audacious ideas, bold research
Cures Start Here. The key word in the tagline of Fred Hutchinson Cancer Research Center is Start. It’s also typically the hardest part of scientific research, especially when it comes to funding. The financial path from a researcher’s bold idea to reporting final results — and then to reaching patients — is rarely straight or simple. […]
$5M state grant will allow OU-led venture-tech program to grow
TechGROWTH Ohio, Ohio University’s Ohio Third Frontier entrepreneurial services provider, has been awarded $5.05 million by the state of Ohio in a competitive funding process for venture development services, according to a news release. The grant will be matched by OU and private organizations, allowing TechGROWTH to continue and expand services through 2022, the release […]
Duke University gets $130 million in funding to accelerate drug discovery
Duke University and Deerfield Management Company, a healthcare investment firm, have created a major translational research collaboration with $130 million in funding. By way of a newly launched company called Four Points Innovation, up to $130 million of initial funding will be made available by Deerfield to back the initiative for 10 years. Deerfield also will provide development expertise in support of Duke’s innovative drug research across a span of high-need therapeutic areas, as well as those targeting patients […]