2 Startups Awarded $175,000 Each to Further Develop Cancer Treatment Technologies
The George Shultz Innovation Fund provides up to $250,000 in co-investment funding for early-stage tech ventures. (Image: iStock)
Alnair Therapeutics and Riptide Therapeutics have been awarded investments from the George Shultz Innovation Fund to further develop their cancer treatment technologies. Both will receive $175,000 investments from the Fund.
Managed by the Polsky Center for Entrepreneurship and Innovation, the George Shultz Innovation Fund (GSIF) provides up to $250,000 in co-investment funding for early-stage tech ventures coming out of the University of Chicago, Argonne National Laboratory, Fermilab, and the Marine Biological Laboratory.
// Read more: Alnair Therapeutics wins George Shultz Innovation Fund award >>
// Read more: Riptide Therapeutics wins George Shultz Innovation Fund award >>
During the GSIF process, teams received guidance and dedicated support from the Polsky Center, business experts, an advisory committee, and student Innovation Fund Associates who are training in venture capitalism.
“The GSIF is a venture-philanthropy fund, managed as an evergreen impact fund,” said Ozge Guney Altay, director of investment strategy for Polsky Deep Tech Ventures. “Our mission and our challenge are one and the same: identify investment opportunities that not only generate significant financial returns, but also create lasting impact for humankind. We believe in all the companies that engage with us and are proud to have the opportunity to support them on their journeys.”
To date, the Fund has invested $9 million in 94 companies that have gone on to raise $412 million in follow-on funding. Companies launched with the fund’s support include Onchilles Pharma, ExplORer Surgical, ClostraBio, Esya Labs and Super.Tech.
About the George Shultz Innovation Fund
Managed by the Polsky Center, the George Shultz Innovation Fund provides up to $250,000 in co-investment funding for early-stage tech ventures coming out of University of Chicago, Argonne National Laboratory, Fermilab, and the Marine Biological Laboratory. Learn more here.