Northwestern University’s entrepreneurial culture continues to grow and thrive, and now aspiring entrepreneurs and innovators will benefit from two new commercialization resources.
The $10 million N.XT Fund for faculty and students will support early-stage innovations based on Northwestern technologies (patented by the University) that are too advanced for federal funding but too early for private investment.
The $4 million NUseeds Fund will support student startups with or without Northwestern-owned technologies. The goal is to accelerate the successful launch of innovations from Northwestern by financing the most promising early-stage ventures. NUseeds is being funded by philanthropic gifts as part of We Will. The Campaign for Northwestern.
“Northwestern students are wonderfully creative, and we want to ensure the best ideas and ventures are supported during their early development,” said Chris Galvin, a University trustee and member of the Board of Trustees’ Innovation and Entrepreneurship Committee. “Success at Northwestern ripples outward, impacting society and the economy while also strengthening our ties with the local entrepreneurial community.”
N.XT and NUseeds build upon The Garage, an innovation space established last year at Northwestern, as well as the robust entrepreneurial curricula from the Farley Center for Entrepreneurship and Innovation (McCormick School of Engineering), the Larry and Carol Levy Institute for Entrepreneurial Practice (Kellogg School of Management) and the Donald Pritzker Entrepreneurship Law Center (Pritzker School of Law).
All of these programs work in concert to support a vibrant entrepreneurial ecosystem at Northwestern and in the community at large.
“Northwestern has developed a robust network of resources to help the entrepreneurially minded, from an undergraduate student developing her first venture to a leading faculty member looking to launch a new product that will improve people’s lives,” said J.B. Pritzker, Northwestern alumnus and trustee. “This support for innovation at all levels will lead to the creation of stronger companies coming out of Northwestern, participating in Chicago-based business incubators MATTER and 1871, and contributing to Chicago’s economic development.”
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