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Ag Tech Startups Awarded From UChicago Innovation Fund
To improve healthcare and agriculture through innovation, The University of Chicago’s Innovation Fund plans to invest more than half a million dollars in three ventures. The Innovation Fund will have infused more than $3.6 million in 38 ventures with high potential for societal and commercial impact.
On December 4, five finalists presented their ideas to the Innovation Fund advisory committee, and for the first time, the public was invited to attend. At the Chicago Innovation Exchange more than 100 people gathered to learn about the new technology being developed by world-renowned researchers at the University of Chicago and affiliated laboratories.
Executive director of the Chicago Innovation Exchange, John Flavin said “The Innovation Fund, in combination with a multitude of other resources available at the University of Chicago, is designed to help support entrepreneurs in taking their next step and exploring the path to commercialization.” They also said “This cycle, the committee has again chosen to invest in three projects whose technology and team have the potential to transform inventive ideas into products and services that reach the marketplace.”
This cycle, the Innovation Fund selected three teams to receive investment:
Navipoint Genomics, LLC was awarded $175,000 to support the development of the team’s advanced genomics analysis platform.
Praedictus Climate Solutions has developed new software tools that provides more accurate and timely projections of crop yields than current approaches. The Innovation Fund awarded the team $125,000 to validate their system with additional crops and in new geographies. Compliments to the Computation Institute’s Joshua Elliott, Ian Foster, and David Kelly, along with colleague Robert Okabe.
RiMO Therapeutics is slated to receive $250,000 to help study its proprietary high-precision cancer treatment in humans.