16 December 2015 15:07:11 IST

UC launches venture fund for students, faculty and alumni

Investment arm to be led by Indian-American entrepreneur Vivek Ranadive

For those of you who currently study, once studied, or teach at one of the schools of the University of California (UC), and are looking for funding for your start-up, you are in luck. The university has announced in a press release a $250 million investment fund that will focus on current and former students, as well as faculty members who are looking for funding for start-ups. Start-ups with specific emphasis in the sciences, technology, energy, agriculture and materials sectors will be considered.

The investment arm will be led by Indian-American entrepreneur Vivek Ranadive. “It is a tremendous honour to partner with the University of California in this unique collaboration focused on investing in breakthrough technologies emerging from the world-class University of California system,” said Ranadive. “As an entrepreneur, I look forward to supporting fellow entrepreneurs and growing innovative, value-driven enterprises with a mission to advance our society and make the world a better place.”

According to an article by TechCrunch , the university has been granted more patents than any other university in the world and has over 30 accelerators and incubators. More than 800 start-ups with UC patents have been founded since 1980.

To read the full release, click here .