October 18-20 | Tucson, AZ

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Yale launches new $2.5M YEI Innovation Fund

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

Yale students and recent students have launched many companies in recent years, from potential game-changers such as forest-monitoring software developer SilviaTerra and Higher One, the financial services firm for college students, to the distinctly urban cardboard furniture maker, Chairigami.

Now Yale is taking a step to speed up the startups, creating a $2.5 million venture fund along withConnecticut Innovations, the state’s technology investment arm. The YEI Innovation Fund will invest as much as $100,000 in companies that launch through the Yale Entrepreneurial Institute, a startup mentoring program at the university that runs a summer fellowship.

The institute’s success is starting to add up, with 75 active companies that have raised $66 million and created 300 jobs. But only 70 of those jobs are in Connecticut, in part because firms must follow the money to Silicon Valley, Boston and New York — a commonly heard refrain among entrepreneurs in this state.

The YEI Innovation Fund, inspired partly by a commitment to enterprise by the new Yale president, Peter Salovey, would be managed by Elm Street Ventures, a New Haven-based fund specializing in life sciences — though it would not be limited to that sector.


Source: http://courantblogs.com/dan-haar/a-new-fund-for-yale-start-up-firms/

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