Delaware Innovation Space expands First Fund Investment Program

January 6, 2020 |

In Delaware, the Delaware Innovation Space’s  First Fund program, providing early stage science startups with critical seed and pre-seed funding and access to business building expertise, community of experts, core programs, scientific equipment, and extensive multi-use laboratories, can now each secure an investment of up to $150,000 from the First Fund Program to fund their startups, via a convertible note, in a 1:1 mix of services to cash.

The original First Fund investment provided startups in the fields of advanced materials, therapeutics, diagnostics, healthcare, chemical ingredients, industrial biotechnology, nutrition, and renewables up to $75,000 in services alone and now the program has been enhanced and now offers up to an additional $75,000 of cash for residential companies at the Delaware Innovation Space, for a total investment of up to $150,000. The exact investment amount an individual startup is eligible for via the First Fund will be determined by a mix of parameters, the most important being the scalability and growth potential of the startup.

Our goal with the First Fund is to accelerate formation and growth of high potential early stage science startups, turning them from concepts into realities,” said William D. Provine, Delaware Innovation Space President and CEO. “We are excited to bring forward a larger investment program now including a cash component

The first step for teams seeking funding for their startups from the First Fund program is to complete an on-line application

Print Friendly, PDF & Email

Tags: ,

Category: Research

Thank you for visting the Digest.