Tuesday, August 20, 2013
CMU doles out latest round of Open Field funds
Carnegie Mellon University's Open Field Entrepreneurs Fund is handing out $250,000 to five startups founded by university alumni, and this time around the majority are also based in Pittsburgh.
The fund, which is run by the CMU Center for Innovation and Entrepreneurship, offers $50,000 in matching investment to companies founded by university alumni who have graduated in the last five years. The fund was started last year with support of alumnus and Flip video camera founder Jonathan Kaplan and his wife, Marci Glazer.
As part of the investment the companies also receive mentorship from other alumni that have been successful entrepreneurs.
"It is exciting to see our young alumni creating such interesting companies," said Lenore Blum, co-director of the Center for Innovation and Entrepreneurship in a written statement. "These companies are based on years of cutting-edge research and bring real-world solutions to everyday problems and challenges..." Read More»
By: Malia Spencer, Pitttsburgh Business Times