Tech Transfer Central
Tech Transfer eNews

Tech Transfer E-News provides a weekly round-up of current news and information in the world of tech transfer, delivered every Wednesday (sign up here). It is published by Technology Transfer Tactics newsletter, which is available as a monthly subscription. For more information or to order a subscription click here, or for a sample issue, click here.

New $5M fund will support start-ups from Michigan’s public universities

A new fund will support start-ups that are commercializing technologies from Michigan’s public universities.

Backed by a $5 million award from the Michigan Economic Development Corp. (MEDC), the Michigan University Innovation Capital Fund (MCUIF) is aimed at driving economic development throughout the state by supporting the growth of Michigan university start-ups.

MCUIF was launched by the University of Michigan (U-M)’s tech commercialization arm, Innovation Partnerships, in collaboration with Michigan State University, Michigan State University Research Foundation, Wayne State University, Western Michigan University and Michigan Technological University.

“This new venture capital fund will provide critical, early-stage investments to university start-ups that are developing world-changing new products,” says Kelly Sexton, associate vice president of research — innovation partnerships and economic impact at U-M. “I look forward to collaborating with university tech transfer offices across Michigan as we continue to strengthen our state’s research commercialization ecosystem to unlock the transformative power of university innovation.”

The award from MEDC will also support the establishment of the Michigan University Innovation Capital Consortium, which will bring together university tech transfer offices and university-managed pre-seed venture fund leaders to provide advisory and strategic support to the fund and its start-ups.

“Collaboration is essential if we want to accelerate innovation, and so I am incredibly excited to see how the Michigan University Innovation Capital Fund and Consortium will create synergies between academia, venture capital, and industry, facilitating the flow of ideas, expertise and resources to help build a brighter future for our great state,” says Rebecca Cunningham, vice president for research and innovation at U-M.

Source: The University Record

Posted under: Tech Transfer e-News