By Steven Overly February 14, 2015 WASHINGTON, D.C. – Universities across the country have developed entrepreneurship programs in recent years aimed at encouraging students and faculty to turn promising business …
Who Should Apply?
The fund will exclusively invest in ventures that (1) seek to develop or commercialize technology and inventions created at the University or through the use of University resources, and (2) at the initial investment are seed to early-stage ventures. Anyone employed full-time or part-time by UNC Chapel Hill including faculty, trainees and staff may apply.
UNC-CH-affiliated companies including but not limited to those in Life-sciences (biopharma, medical devices, diagnostics, healthcare IT and tech-enabled services), IT Software and Hardware, Applied Sciences, Material Sciences or AgBio . As technologies evolve so do descriptive categories. If your technology does not fit the above categories but meets other qualifications please consider applying to CRVF.
Initial investments are likely to be between $100,000 and $250,000 with follow-on investments as appropriate, throughout the company’s development.. As the company grows and has increased capital needs additional non-University financial resources, such as corporate partners, venture capital, or other investors, are expected to also help finance the company.
What Type of Venture Qualifies?
The capital will fund discovery and development stages of companies. Companies are expected to not yet have a product fully developed and, in most cases, will be pre-revenue. The purpose of this capital is to help launch new commercial entities and therefore it is expected that applicants will have not raised more than $2.5 million from outside equity sources such as institutional venture capital (excludes grants, SBIRs, etc).