Drexel University Innovation Fund Opens Applications for Third Cohort

Applications are now open for the Drexel University Innovation Fund, Fall 2024 Cohort. If you are interested in applying, please Apply here.

The Drexel University Innovation Fund (DUIF) makes early-stage investments in Drexel-affiliated startups. This includes startups founded by students within a year of graduation, alumni within three years of graduation, postgraduate students within a year of graduation, and faculty-members commercializing research results.

DUIF aspires to play the role of a friends and family investor, providing “first check” investments of $150,000 per startup, making up to four investments per year. Drexel innovators who have completed or are currently participating in Drexel's innovation and entrepreneurship programs, such as the Baiada Incubator Competition, Drexel Startups Fund, National Science Foundation I-Corps, and the Drexel Coulter Translational Research Program are encouraged to consider this new program to accelerate their entrepreneurial endeavors and shorten the time to the first round of professional investor capital.

A unique aspect of the Fund is an experiential opportunity for Drexel students to learn the world of venture capital investing through credit-bearing courses followed by experiencing the Fund's investment process with hands-on activities that directly support the Fund.

Launched in early 2023, the prior cohort winners include:

For more information about the cohort winners, see the 2023 Cohort Announcement and 2024 Cohort Announcement.

Startups: How To Apply

Startups are encouraged to apply through this application portal from now (June 4th) until August 6th, 2024. After preliminary qualification vetting, the startups will go through a screening process with the operations team in order to select finalist startups who will be part of the Charles D. Close School’s diligence course in fall 2024.

Applications: June 4th, 2024 – August 6th, 2024
Screening: Rolling – August 23rd, 2024
Diligence: August 26, 2024 – December 13th, 2024
Final Pitch & Investment Panel Review: December/January 2024

Students: How To Get Involved
Through the Close School of Entrepreneurship, students of any major can take the ENTP-380 “Drexel University Innovation Fund Due Diligence Analysis” over Fall term 2024 and participate in hands-on diligence activities that directly support the Fund.

For students interested, contact Robert Morier (rlm343@drexel.edu). The Fall course catalogue will contain additional information and learning outcomes.

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Applications are open for the Fall 2024 Innovation Fund. Apply now. For more information on the Drexel University Innovation Fund, visit: drexel.edu/applied-innovation/funding/innovation-fund or contact innovationfund@drexel.edu