NYU Innovation Fund, launched in 2010, directly creates entrepreneurial opportunities for NYU students, faculty and alumni by funding the projects that they undertake to commercialize technology NYU has developed.
Over the past twenty years, NYU’s technological discoveries and innovations have spurred the creation over 100 startups. Recognizing this important asset to the University, NYU created the Innovation Fund to encourage its students, faculty and alumni to find new and creative uses for NYU created technology. Although this fund is only available to those affiliated with NYU, it has become a model that other universities follow to commercialize their research.
To qualify for the fund, NYU affiliates have to submit a Venture Profile. The profile requires answers to critical and comprehensive questions about their ventures. This ensures the fund is being well-used by aiding those who are experienced and knowledgeable, and therefore most likely to succeed.
Some of the recipients of the fund since its start include:
- – Vengo Labs: a software and media company that engages consumers and collects data
- – Tagasauris: provides media annotation services
- – Orca Pharmaceuticals: develops oral drugs that treat chronic inflammatory disease
NYU has fostered an ecosystem where those that have an affiliation with NYU can participate in the creation and the commercialization of technology. It is a process of constant innovation that NYU has mastered.
