Raising money may be required to take a startup's product to market. You may take advantage of funding from the university or pursue external funding.
Northwestern funds are supported in part by generous Northwestern Alumni and Northwestern’s Central Administration.
The N.XT fund is designed to promote early stage Northwestern technologies to the next stages of commercialization. For more information, visit the N.XT website.
NUseeds fund is designed to support and accelerate business development for early stage start-ups. For more information, visit the NUseeds website.
NewCures is a Northwestern initiative that focuses on accelerating Northwestern biomedical research from early discovery stages to more advanced clinical stages or commercialization for the benefit of the patients., visit the NewCures page.
VentureCat is a day-long showcase and celebration of Northwestern’s most promising student-founded startups. The event culminates with a pitch competition, in which over $100,000 in prize money will be distributed to student ventures.
VentureCat is an evolution of the Northwestern University Venture Challenge (NUVC), which was originally introduced in 2007. From inception, NUVC has distinguished itself from other pitch competitions around the globe by organizing competitors in industry-specific tracks, which leverages the rich expertise of distinct schools from across the university in both graduate and undergraduate programs, and awarding top teams with non-dilutive capital. Visit the VentureCat website.
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) offer funding in the form of contracts or grants. The projects must have commercialization potential and meet the requirements set by the US Government Research and Development needs. Approximately $2.5B is awarded through these grants per year. Companies must be meet qualifications outlined by the programs. Visit the SBIR/STTR website.
Northwestern participates in the IL University Incubator Network which offers access to free SBIR/STTR consultation. Please contact your Invention Manager or INVO if you are interested in applying for this type of opportunity.
Business Plan Circuit
Business plan competitions are another source of funding. Kellogg summarizes the business plan circuit for Northwestern students at its website.