The University of Manchester is launching a £10m Founders Fund to provide pre-seed investment to students, staff, alumni and University-affiliated start-up and spin-out ventures.
The University has set an initial goal of raising £10m for the Fund, predominantly through philanthropic support, with an initial £3m already secured.
The fund has so far received a £2m commitment from the University and a £1m philanthropic gift from alumnus and technology entrepreneur Kevin Lomax.
The announcement was made at the start of a week-long programme of activity across the University’s inaugural Innovation Festival.
The Founders Fund aims to address a funding gap facing students, staff, and alumni entrepreneurs as they turn ideas into viable businesses.
Source: University of Manchester launches £10m founders fund to support new entrepreneurs | Insider Media
