Overview
The Innovation Fund is a $20 million fund that invests in proof-of-concept and early business development work for viable new startups created by faculty and students. The funds have been donated by alumni, and all proceeds from successful exits will be invested back into the Innovation Fund to ensure it is an evergreen, permanent feature of the University’s entrepreneurial ecosystem.
The primary objective of the Innovation Fund is to reduce friction to the capital and commercial markets for early stage technologies and ventures arising from University IP and ideas. This high-risk, early-stage capital is not available in the market since the technology has progressed beyond basic science and research grant funding but is too early in development to attract corporate or venture capital. In addition to funding, applicants receive support for their venture before and after apply for the fund through the University’s extensive resources at the Polsky Center for Entrepreneurship and Innovation.
Application & Eligibility
Applications for the Fall 2017 Innovation Fund are now being accepted. Applications must be submitted Friday, September 8 for consideration in this cohort. Eligible candidates include faculty, students, and staff seeking investment to commercialize their research.
Investments
To date, the Fund has invested $5.6 million in 53 startups, with each funding cycle bringing ever more advanced projects from an even wider group of researchers. Funding cycles are held twice a year, starting with a broad call for applications and then quickly whittled down to the top 5 most promising projects for a deeper due diligence by an experienced Steering Committee and external, expert Advisory Committee.
Take a look at a few examples of the impactful companies that are supported through the Innovation Fund are below. View all Innovation Fund projects by year.
Steering Committee
To see a full list of members of the UChicago Innovation Fund Steering Committee, click here.
Innovation Fund Associates Program
To support Innovation Fund investment decisions, the Polsky Center runs the Innovation Fund Associates (IFA) program, whereby selected students and post-docs receive robust training and perform diligence on innovation projects. Learn more about the IFA program.
Contact
Contact Jason Pariso, Director of the Innovation Fund or Steve Lehmann, Assistant Director.
