Indiana University unveils $10 million Innovate Indiana Fund for investment in faculty research
Indiana University unveiled a new $10 million venture capital fund aimed at investing in the development of innovations and technologies created at the university.
Indiana University President Michael A. McRobbie said the goal of the new Innovate Indiana Fund http://innovate.indiana.edu/fund/ would be to assist in the translation of new concepts and technologies created at IU into the marketplace as commercial products, services and treatments developed by emerging technology-based companies.
"Indiana University understands the need for commercially-focused research and technology development and the important role the university plays in serving as a catalyst for economic growth for Indiana," McRobbie said. "In fact, creation of the Innovate Indiana Fund directly addresses the Indiana Commission on Higher Education’s recent request for the state’s research universities to find new ways to contribute to the economic enrichment of Indiana. This fund gives us yet another tool to help us in our role as an economic driver in the state."
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