Greenlighting 10 Startups-Open Field Entrepreneurs Fund - Carnegie Mellon University

Friday, June 1, 2012

Greenlighting 10 Startups

Carnegie Mellon University's Open Field Entrepreneurs Fund (OFEF) has awarded $500,000 to 10 startup companies from across the U.S. to assist them in growing their business ventures.

The fund was established by CMU alumnus and Flip Video Camera creator Jonathan Kaplan (TPR'90)and his wife, Marci Glazer, to provide early-stage business financing and support to CMU alumni who have graduated in the last five years.

The companies, whose locations range from New York to Silicon Valley, operate in a variety of industries, including medical, technology, consumer and educational fields (check out the full list of companies »).

Following CMU's focus on solving real-world problems, the companies' objectives include everything from reducing hospital-acquired infections and preventing vision loss in children to improving math and science education and making the wait for a restaurant table less frustrating.

"Carnegie Mellon graduates have what it takes to create great companies," said Kaplan, CEO of The Melt and five-time entrepreneur. "But without money and mentoring these young adults can often take jobs instead of taking risks. I want them to dream big and create the next great product or service just like I did."

OFEF is part of CMU's Greenlighting Startups initiative, which is designed to speed CMU faculty and student innovations from the research lab to the marketplace. Since Kaplan announced his fund last year, CMU has received more than $15 million to support Greenlighting Startups.

"Jonathan is truly a visionary, both as an entrepreneur and a philanthropist," said CMU President Jared L. Cohon. "His generous gift has spurred the continuing growth of Greenlighting Startups, allowing us to provide further support to students and alumni who are creating the types of companies and jobs that serve as the country's economic engine...Read more»

By: Carnegie Mellon University: Homepage Stories