George Shultz Innovation Fund Awards $250K to Parasol Medtech and Signl
The George Shultz Innovation Fund has selected two University of Chicago startups, Parasol Medtech and Signl, for an investment of $250,000 each.
This year’s finals marked 15 years of the George Shultz Innovation Fund. Over that time, the fund has invested $10.4 million in 83 startups, which have raised more than $327 million in follow-on funding. Of these startups, five have exited, and 53% are still active.
“I have no doubt that both Signl and Parasol are going to make a big impact on society, and I’m excited that we are able to help support their ambitious goals with an investment from the George Shultz Innovation Fund. Congratulations to both awardees. We look forward to seeing what comes next,” said Shyama Majumdar, senior director, science accelerators and investments, Polsky Center.
Announced in March, the four 2026 finalists pitched last month to the Innovation Fund Advisory Committee, which consists of advisors, entrepreneurs, and industry experts. Two startups were ultimately selected for an investment of $250,000 each.
The 2026 George Shultz Innovation Fund winners are:
// Parasol Medtech ($250,000)
Founded by Atman Shah, professor of medicine and clinical director of cardiology at the University of Chicago Medicine, Parasol Medtech has developed a novel, minimally invasive device to reduce the risk of stroke in patients with atrial fibrillation.
“We are incredibly honored to receive the George Shultz Innovation Fund award,” said Shah, who also is the startup’s chief medical officer. As a physician who has spent more than a decade performing left atrial appendage closure procedures, he has seen the challenges with current technologies and the impact on patients.
“Parasol was born from those experiences and from a desire to create a safer, more effective solution for stroke prevention in patients with atrial fibrillation,” explained Shah, who said the process involved is what makes the award especially meaningful.
“The opportunity to engage with mentors, investors, industry experts, and fellow entrepreneurs, and ultimately be selected among such an impressive group of companies, provides tremendous validation of both our vision and the work our team has done to date,” he added.
The funding will help Parasol take the next steps to advance and de-risk the technology, including further prototype development, preclinical testing, and generating the data needed to support future regulatory and clinical milestones.
“Just as importantly, the award helps us build momentum as we continue fundraising and assembling the partnerships necessary to bring this technology to patients,” said Evan Singer, who recently joined the company as CEO. “We are grateful to the Innovation Fund for believing in our vision and excited about the opportunity to transform years of clinical insight into a technology that has the potential to improve outcomes for millions of patients worldwide.”
// Signl ($250,000)
Signl was cofounded by Aaron Esser-Kahn, professor of molecular engineering at the University of Chicago Pritzker School of Molecular Engineering, and his former graduate student Jeremiah Kim, PhD ’24, who is the startup’s chief science officer.
Building on years of research, the startup has discovered medicines that act like a “sound mixer” for the immune system — letting scientists “turn down” a vaccine’s side effects, while “boosting” its protection.
The approach has already worked in animal studies, and the funding will help the work move out of the lab and toward patients.
“The funding helps us take our next steps as we start scaling up our compounds for clinical-grade materials, exploring partnerships, and hiring key individuals,” said Esser-Kahn. “We are grateful for the Polsky Center with the quality of their advisors, programming, and resources for innovation coming out of UChicago.”
Signl is starting with mRNA vaccines and treatments, where side effects often limit how much medicine a patient can be given safely.
“The funding helps expand our already robust ties with the University of Chicago,” added Kim. “The advisors were instrumental in iterating our storytelling, supporting us on multiple fronts.”
// Managed by the Polsky Center for Entrepreneurship and Innovation, the George Shultz Innovation Fund provides up to $250,000 in funding for early-stage tech ventures from the University of Chicago, Argonne National Laboratory, Fermilab, and the Marine Biological Laboratory.