UConn Innovation Fund - University of Connecticut
The UConn Innovation Fund is a $1.5M university-affiliated seed investment vehicle created by the University of Connecticut, Webster Bank, and Connecticut Innovations to deploy up to $100K convertible-note investments into UConn-affiliated early-stage startups operating in Connecticut.
- Company typePrivate
- Founded2017
- HeadquartersStorrs Mansfield, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What UConn Innovation Fund - University of Connecticut does
The UConn Innovation Fund is a $1.5 million, finite-life seed investment vehicle established in 2016 through a tri-party partnership between the University of Connecticut, Webster Bank, and Connecticut Innovations (CI). The fund deploys up to $100,000 per company in early-stage UConn-affiliated startups (students, faculty, alumni, or Technology Incubation Program participants) via convertible notes, structured in two milestone-gated tranches, with discretion for selectively larger investments. The portfolio spans 14+ companies across biotechnology, veterinary and animal health, clean energy, healthcare, mobile health, supply chain/blockchain, consumer products, and business services. Portfolio companies must operate in Connecticut, and the fund is designed to bridge recipients to larger follow-on capital, specifically the Connecticut Innovations CBIF ($500K), SBIR/STTR grants, or angel investment.
Governance is layered: an Evaluation Board led by UConn with external industry representatives screens applications, Fund Managers confirm diligence and prepare deal packages, and an Investment Committee composed of one member from each of the three founding partners makes final investment decisions. Capital is restricted to project-based proof-of-concept, market research, and early-stage product development — not shareholder compensation. The original two-year $750K-per-year commitment was fully deployed by approximately 2018, and by 2021 the fund disclosed that no additional capital is expected and that it is transitioning to a new management structure, effectively signaling the end of the original vehicle.
The fund has no operating revenue, no employees of its own (the 1,001–5,000 headcount figure reflects the parent University of Connecticut), no software product, and no AI/ML component. Its strategic value lies entirely in its role as a feeder mechanism within Connecticut's state-backed innovation stack, channeling UConn research output into CI's larger CBIF fund and Webster Bank's commercial banking relationship.
UConn Innovation Fund - University of Connecticut firmographics
Firmographics- Name
- UConn Innovation Fund - University of Connecticut
- Legal name
- University of Connecticut
- Website
- https://innovationfund.uconn.edu
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- The UConn Innovation Fund is a $1.5M university-affiliated seed investment vehicle created by the University of Connecticut, Webster Bank, and Connecticut Innovations to deploy up to $100K convertible-note investments into UConn-affiliated early-stage startups operating in Connecticut.
- Ownership category
- akta.pro rank
UConn Innovation Fund - University of Connecticut industry classification
Industry- Product category
- Venture Capital
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industry
- Technology Transfer & Innovation-Driven Research Universities (High Commercialization) (EDAHABAH)
Keywords
Where UConn Innovation Fund - University of Connecticut is headquartered
LocationHeadquarters
- HQ city
- Storrs Mansfield
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
UConn Innovation Fund - University of Connecticut business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Others
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Convertible Note Investment - Up to $100K per startup |
Distribution channels1 record
UConn Innovation Fund - University of Connecticut product offering
Product offeringCore offering
The UConn Innovation Fund is a $1.5 million investment vehicle created jointly by the University of Connecticut, Webster Bank, and Connecticut Innovations (CI) to provide early-stage capital to UConn-affiliated startup companies. The Fund invests up to $100,000 per qualifying company via Convertible Notes, paid in two tranches tied to pre-approved milestones, with the goal of helping portfolio companies secure SBIR/STTR grants, angel investment, or other follow-on financing.
Product overview
The UConn Innovation Fund is a single investment vehicle, not a platform-based product. It is a $1.5M fund (comprising $750K per year over two years) created through a partnership between the University of Connecticut, Webster Bank, and Connecticut Innovations. The fund makes selective investments of up to $100K per qualifying startup via Convertible Notes, paid in two tranches upon milestone completion. The portfolio companies (Torigen, Enviro-Power, OmniCyte, Zorus, The Feel Good Lab, Avitus Group, Bactana Animal Health, Gynion, Qrfertile, Stemify, CaroGen, CoreChain, BioArray, Mobile Sense) are the startups receiving investment, not separate products or modules offered by the fund.
Differentiator
Problem solved
Functional benefit
Products and services
- UConn Innovation Fund A $1.5M pooled investment vehicle that makes selective investments of up to $100K per company in UConn-affiliated early-stage startups pursuing commercialization, with the goal of helping them secure follow-on SBIR/STTR, angel, or later-stage financing. For UConn students, faculty, alumni, or Technology Incubation Program (TIP) participants operating in Connecticut.
- Convertible Note Investment The specific financial instrument used by the UConn Innovation Fund to deploy capital. Investments up to $100K per company, paid in two tranches: 50% upfront to fund pre-approved milestones, with the remaining 50% released upon successful completion of those milestones. The Investment Committee has discretion to approve investments greater than $100K on a select basis.
Quantifiable outcome
- Fund made selective investments in high-potential, early-stage companies with goal of helping them secure SBIR/STTR funding, angel investment, or other later-stage financing
Companies that use UConn Innovation Fund - University of Connecticut
Customer profileNamed customers14 records
Segments1 record
Ideal customer profiles1 record
UConn Innovation Fund - University of Connecticut technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
UConn Innovation Fund - University of Connecticut partnerships and signals
Strategic signalScale indicators3 records
Recent moves5 records
Expansion highlights3 records
UConn Innovation Fund - University of Connecticut competitors and assessment
Company assessmentBroad incumbents
- Connecticut Innovations: Connecticut's state-backed venture capital and innovation fund. UConn Innovation Fund's own founding partner and a broader-mandate incumbent that invests across all CT-affiliated companies, not just university-sourced ones.
- Idealab: Long-standing technology startup incubator that creates and funds early-stage companies. Comparable in operating as a structured fund-like vehicle supporting pre-commercial startups with milestone-based capital.
- Techstars: Global accelerator that provides seed funding and mentorship to early-stage startups. Operates at much greater scale and broader scope but engages similar early-stage founders with convertible-note-style investments.
Emerging players
- Venture For America: Fellowship and support program placing early-career entrepreneurs in startup roles in emerging startup hubs, including Connecticut. Tangentially comparable as an ecosystem-building organization supporting early-stage company formation in CT.
- gener8tor: National accelerator network with a Connecticut/Northeast presence that runs cohort-based programs for early-stage startups. Comparable in deploying seed capital and milestone-based support to early-stage founders.
Direct peers
- Yale Ventures: Yale University's venture and innovation arm that supports Yale-affiliated founders through funding and incubation. Directly comparable as another Connecticut-based research university fund targeting affiliated early-stage startups.
- Princeton Entrepreneurship Council: Princeton University's hub for entrepreneurship support and funding programs for Princeton students, faculty, and alumni. Directly comparable as a peer Ivy-adjacent research university fund mechanism.
- Cornell Tech Runway: Cornell University's startup accelerator and seed fund supporting Cornell-affiliated ventures in NYC. Comparable as a research university-led early-stage investment vehicle targeting affiliated founders.
- MIT Sandbox: MIT's seed-funding program that provides milestone-based grants to MIT-affiliated student founders. Closely analogous to UConn Innovation Fund in milestone-based tranche structure and university-affiliated early-stage investing model.
Regional players
- Launch Capital: Northeast-focused (including Connecticut) early-stage venture firm. Comparable as a regional investor in Connecticut's startup ecosystem with overlapping portfolio companies in digital health and consumer tech.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
UConn Innovation Fund - University of Connecticut social profiles
Digital presenceUConn Innovation Fund - University of Connecticut financial estimates
Financial estimateRevenue estimate
Valuation estimate
UConn Innovation Fund - University of Connecticut leadership team
Management profileNumber of profiles
Profiles1 record
UConn Innovation Fund - University of Connecticut funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
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UConn Innovation Fund - University of Connecticut M&A and investment
M&A and investmentM&A
Investments6 records
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Frequently asked questions about UConn Innovation Fund - University of Connecticut
What does UConn Innovation Fund - University of Connecticut do?
The UConn Innovation Fund is a $1.5 million investment vehicle created jointly by the University of Connecticut, Webster Bank, and Connecticut Innovations (CI) to provide early-stage capital to UConn-affiliated startup companies. The Fund invests up to $100,000 per qualifying company via Convertible Notes, paid in two tranches tied to pre-approved milestones, with the goal of helping portfolio companies secure SBIR/STTR grants, angel investment, or other follow-on financing.
Is UConn Innovation Fund - University of Connecticut a public or private company?
UConn Innovation Fund - University of Connecticut is a private company. It is classified as state government owned and is currently operating.
When was UConn Innovation Fund - University of Connecticut founded?
UConn Innovation Fund - University of Connecticut was founded in 2017. It employs 1,001 to 5,000 people.
Where is UConn Innovation Fund - University of Connecticut based?
UConn Innovation Fund - University of Connecticut is headquartered in Storrs Mansfield, United States, in the North America region.
Who are UConn Innovation Fund - University of Connecticut's main competitors?
Broad incumbents on record are Connecticut Innovations, Idealab and Techstars. Emerging players are Venture For America and gener8tor. Direct peers are Yale Ventures, Princeton Entrepreneurship Council, Cornell Tech Runway and MIT Sandbox. Launch Capital is listed as a regional player.
Does UConn Innovation Fund - University of Connecticut have an API?
No public API is recorded for UConn Innovation Fund - University of Connecticut.
What industry is UConn Innovation Fund - University of Connecticut in?
UConn Innovation Fund - University of Connecticut's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of EDAHABAH, Technology Transfer & Innovation-Driven Research Universities (High Commercialization). Its SIC code is 6211.