UCHICAGO'S NEW STARTUP INVESTMENT PROGRAM TO ALLOCATE $25 MILLION FOR STARTUPS WITH ROOTS ON CAMPUS (2016)

PUBLISHED ON DECEMBER 5, 2016

The University of Chicago is designating $25 million from its endowment to invest alongside established venture funds in startups led by faculty, students, staff and alumni, expanding a commitment to grow entrepreneurship and research commercialization on campus. “In addition to fostering innovation, we hope the UChicago Startup Investment Program will encourage our partner venture capitalists to take a deeper look in the Midwest and Chicago specifically,” said Mark Schmid, University vice president and chief investment officer. “We want to invest in companies that grow and create economic opportunities here and participate in the resulting benefits.” The University anticipates investing in three or four new companies a year through the initiative, which is set to run for a decade. Read full story »