Drexel University Innovation Fund
The Innovation Fund will support early-stage Drexel student and postgraduate-led startups as well as startups founded to commercialize the results of scientific research being developed at Drexel. The University aspires to play the role of a friends and family investor by being the first money in with an investment of $150,000 per startup and up to four startups per year – giving candidate companies in technology spaces important to the University’s research mission access to early-stage funding that can be elusive. The Innovation Fund is an evergreen capital pool where the funds will be re-invested through the fund in future startups.
A unique aspect of the Innovation Fund is an experiential opportunity for Drexel students to learn venture capital investing through credit-bearing courses and experiencing the Innovation Fund’s investment process with hands-on activities. Following the mission to provide a valuable, rigorous, experiential education, students will work with a faculty member to perform due diligence, develop recommendations, and present their findings to an investment committee.
“This is a bold new initiative to empower Drexel’s problem solvers to dream big and go after the world’s most pressing challenges,” said Drexel President, John Fry. “We are doubling down on our entrepreneurial talent and research innovations.”
The Drexel Innovation Fund was developed by leaders from the Charles D. Close School of Entrepreneurship, Office of Research and Innovation, Office of the Provost, Drexel Solutions Institute, the Office of Executive Vice President, Treasurer & COO and an advisory group consisting of University trustees and distinguished alumni in the venture capital industry. An Investment Advisory Committee, comprised of industry experts and early-stage investors selected by Drexel Applied Innovation and the Close School, will consult on program management.
Read the Program Announcement