Celgene, Eli Lilly to back $150M fund alongside NYC to invest in biotech
An unusual public-private venture capital fund targeting the biosciences is launching in New York with $150 million to deploy, three times the original goal. The Early-Stage Life Sciences Funding Initiative (a refreshingly literal name for tech investment funds) combines $10 million of New York City money with $140 million from the Celgene Corp. (NASDAQ: CELG), […]
Connecticut Bioscience Innovation Fund award $954,000 to MS test, cancer treatment
The state’s technology investment agency has invested nearly $1 million into a pair of university-based biotechnology research projects, including one at Yale, in an effort to speed their commercialization. Officials with Connecticut Innovations said Tuesday that the Connecticut Bioscience Innovation Fund (CBIF), which the agency manages, awarded $954,000 to the projects following a competitive review […]
Albany Medical Center to receive $520,000 for biomedical accelerator, seed fund
Albany Medical Center will receive more than $520,000 in federal grants from the U.S. Economic Development Administration to support biomedical research and commercialization of new medical products and technologies. In a statement, U.S. Senators Chuck Schumer and Kirsten Gillibrand said the hospital will receive $399,585 for its biomedical acceleration and commercialization center, which is expected […]
Md. venture fund helps bring Indiana tech firm to Frederick
A Maryland state-sponsored venture capital fund is helping a growth-minded technology firm move its headquarters from Indiana. The Department of Business and Economic Development said Monday that the Maryland Venture Fund has invested $500,000 in Blue Pillar, a company that makes software to help large organizations manage energy consumption. Blue Pillar’s business relations chief, Scott […]
Phasing Out Michigan Venture Fund Would Hurt State’s Efforts To Help Entrepreneurs
Jim Adox, Chairman of the Michigan Venture Capital Association, and Managing Director of Venture Investors LLC, said phasing out the Venture Michigan Fund – as proposed by the Michigan House Commerce and Trade Committee this week – would have a tremendous negative impact on the state’s efforts to make Michigan more entrepreneur friendly. “In 2003, […]
Penn faculty startup raises $100K from city’s StartUp PHL fund
The City of Philadelphia’s StartUp PHL angel fund has invested $100,000 in Penn faculty startup Gencore Systems. It’s the first time that the fund, run by First Round Capital’s Josh Kopelman, has backed a startup built on research done at a local university. It’s also notable because Gencore Systems is the first startup to come out of Penn’s […]
U-M spinoff Arborlight gets $1.7M in VC funding to commercialize new lighting technology
Arborlight wants every indoor space to be able to reap the benefits of natural — or as close to natural — sunlight, and thanks to a $1.7 million venture capital investment, the company is one step closer to that goal. The Ann Arbor-based technology company recently announced that it landed the investment, led by the […]
Tech Launch Arizona Hosts Summit of Leaders to Advance the Impact of Innovation
The process of taking inventions from university research and turning them into patents that can be converted into products and startup companies is long and complex. Given the uniqueness of each university’s research environment and its surrounding ecosystem of businesses, alumni, donors and entrepreneurs, nailing down “best practices” is not easy, either. But this week, […]
U Wisconsin Discovery to Product aids university in commercializing patents
While the University of Wisconsin recently ranked sixth among 100 universities for the number of patents issued in 2013, bringing more of these patents to market remains a challenge. In 2013, the Wisconsin Alumni Research Foundation, the nonprofit patent and licensing organization for UW, helped with the issuing of 160 patents, according to a UW […]
New Ohio venture fund could help fill a local investment gap – Cleveland Business News – Northeast Ohio and Cleveland – Crain’s Cleveland Business
The “angels” in charge of Northeast Ohio’s newest venture capital fund have been flying below the radar. But they have been busy. Some investors involved with North Coast Angel Fund have formed their own venture capital firm: North Coast Venture Fund. Over the past year, they’ve raised $5 million and invested in seven technology companies, […]