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 […]
MassDevelopment issued a $175000 revolving bridge loan from the Emerging Technology Fund
MassDevelopment issued a $175,000 revolving bridge loan from the Emerging Technology Fund to Dynamo Micropower Corporation. Dynamo Micropower Corporation is a privately-held developer and manufacturer of fuel-flexible micro-turbine based power generation systems for the oil and gas industry, located in Somerville, Massachusetts.Dynamo has developed a scalable 15-75kW flexible-fuel, portable micro-turbine platform that meets the power […]
New grants to help UCF, Canvs launch $5M seed fund – Orlando Sentinel
U.S. Secretary of Commerce Penny Pritzker visited campus in person to unveil the new matching grants: $500,000 from the i6 Challenge program and just under $250,000 from the Regional Innovation Strategies Program. Pritzker said UCF is one of two universities in the U.S. receiving grants from both programs, because it has programs to support new […]
NJHF commits additional $1 million to fund research and innovation grants in N.J.
The New Jersey Health Foundation, a New Brunswick-based nonprofit that funds health research and innovation, on Monday announced a new $1 million funding round, $500,000 of which will fund a new collaboration with Newark-based Nicholson Foundation to help researchers commercialize their ideas. Jim M. Golubieski, foundation president, said the new Innovation Grants program will provide […]
Drugmakers, UK start $100M venture to fund creation of Alzheimer’s drugs
Major drugmakers, the British government and a top Alzheimer’s research charity are pooling more than $100 million to create a global fund to accelerate efforts to find a treatment or even a cure for the mind-robbing disease within a decade. The new Dementia Discovery Fund will function like a venture capital fund. It will identify […]
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 […]
Accel launches $305 million Indian start-up fund
Accel Partners, the venture capital firm that has backed the likes of Facebook and Flipkart, is launching a $305 million India-focused fund to capitalize on the country’s favorable conditions for start-ups. The investment is almost double the size of Accel’s last such fund — launched in 2011 — and will target technology businesses in the […]
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, […]