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University-Industry Engagement Advisor

Big Idea Ventures launches $125M university start-up fund to boost economic development in rural communities

By Jesse Schwartz
Published: April 21st, 2021

Big Idea Ventures (BIV), a global leader in early-stage alternative protein investing, has launched a fund to commercialize university technologies that will help boost economic development in rural communities.

The $125 million Generation Food Rural Partners (GFRP) fund will establish venture centers at 10 collaborating universities, including North Carolina State University, Louisiana State University, Oregon State University, Pennsylvania State University, Purdue University, Tufts University, the University of Hawai’i, the University of Illinois at Urbana Champaign, the University of Massachusetts Amherst, and Worcester Polytechnic Institute.

BIV will staff each venture center with team members experienced in evaluating intellectual property to help the university identify and evaluate technologies with the strongest commercial potential. The fund will then invest in start-ups formed around those technologies

“We’re honored to welcome these universities to the GFRP consortium,” says Tom Mastrobuoni, chief investment officer at Big Idea Ventures. “The research being conducted at each of these institutions spans our three areas of focus: breakthroughs in food, protein, and agriculture innovation. Our team is excited to start building new companies based on technology being developed by some of the world’s best and brightest.”

Andrew D. Ive, founder and managing general partner at BIV, comments, “We believe GFRP will drive additional research and encourage entrepreneurs to establish their companies near our venture centers in rural America. Our rural communities have always been the center of our country’s food production, and this is one way to help those communities continue to grow economically into the future.”

Source: Intrado

Posted under: Tech Transfer e-News

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