UConn, Connecticut Innovations (CI) and Webster Bank are setting up a $1.5-million UConn Innovation Fund to support early-stage startups affiliated with UConn.
Investments of up to $100,000 are available to any student, faculty member or alumnus of the university with an in-state business startup tied to research, advanced technologies or innovations developed at UConn.
Companies participating in UConn’s Technology Incubation Program are eligible.
UConn faculty and students looking to translate lab discoveries into commercial products and services receive patenting and licensing assistance, business incubator space, financial awards and other support services from the university.
The new fund allows Connecticut Innovations — the state’s quasi public venture arm –to continue its support of new startups established through UConn. Webster Bank will provide financial and banking expertise to help new companies grow.
UConn, CI,and Webster Bank are limited partners and investors in the fund.
