Proof of Concept Funding
KU has established a proof-of-concept fund to invest in innovation that requires funding to mature technology so it is ready for license in 12-18 months. Applicants are required to clearly indicate the economic potential of their technology and identify companies that would be suitable partners to develop a commercial product. Preference is given to applications that have a monetary or in-kind match from industry partners. This fund supports research and development in all areas of innovation and technology including electronics, software, communications, life sciences and engineering.
ACCELERATING PROMISING INNOVATION
Venture Fund- Setting the State for Success - Under Development
The KUIC Venture Fund will supply financing and intellectual capital to companies with promising, early-stage technologies, to help prepare them for future investment.
Capital will be generated from designated contributions to the KU Endowment. Management of the analysis and investment process will be administered by KU Innovation and Collaboration (KUIC).
The fund will be open to KU faculty, students, staff and companies located in any of the Bioscience and Technology Business Center incubators. Funding Cycle Frequency Awards will be available throughout the calendar year.
Governance and Project Selection
The Venture Fund will be disbursed through the President of KUIC, on the advice of an expert advisory group. The advisory group will be comprised of alumni and friends of the University who are business, financial, scientific, and technology professionals and are selected based on their expertise in assessing and building early-stage companies. The committee’s role will not be fiduciary.
Venture Philanthropic Fund
The fund is a giving opportunity, where donors and grantors, by pooling funds and expertise, can create a flow of viable and investable deals out of otherwise pre-commercial ideas. While the fund operates at too early a stage to target commercial returns, it aims to use practical venture disciplines to vet opportunities, provide returns to the fund to enable sustainability and create more mature investable opportunities.
The Venture Fund is intended to provide sufficient financing and other assistance to allow companies to become investment-ready and competitive. Specifically, the company has the opportunity to prove the technology is functional and that the market is willing to buy the product offered at the price reflected in the company’s projections.
Terms of Award
The standard funding term for an investment will be 12 to 18 months. Investments will be in the range of $20,000 to $200,000 with funds disbursed on successful completion of agreed upon milestones. Deal terms can be structured in several ways. The most common structure will be some form of term debt, possibly convertible.
Kansas Economic Development Funds - Growing Kansas
The great State of Kansas supports public universities and the businesses and technologies that are forged here.
PARTNERS IN PROGRESS
If you’re ready to build your business in Kansas, business and community development assistance programs can help. Business and community development assistance staff can assist entrepreneurs in identifying programs and incentives to help start, strengthen, and grow their businesses.
FOR MORE INFORMATION
Contact Susan NeuPoth Cadoret
Assistance Manager, Kansas Commerce
1000 S.W. Jackson St., Suite 100
Topeka, KS 66612-1354