Nearly two years after the creation of the VTC Innovation Fund, the Virginia Tech Foundation and Carilion Clinic have again partnered to create the VTC Seed Fund, a $7 million venture capital fund, to facilitate additional pathways for innovative products and technologies to be commercialized.
Unlike the VTC Innovation Fund, which provides larger investments for established growth-stage companies, the VTC Seed Fund is intended to provide smaller investments ranging from $100,000 to $150,000 to earlier-stage, higher risk companies.
“By investing in promising early-stage companies and entrepreneurs, the new VTC Seed Fund will create pathways for new technologies to be commercialized and facilitate the continued development of the regional entrepreneurial ecosystem,” said John Dooley, chief executive officer of the Virginia Tech Foundation. “It will also increase the standing of Virginia Tech, Carilion, and the Roanoke/Blacksburg region as an entrepreneurial and innovative place to do business.”
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