George Shultz Innovation Fund

Overview

The George Shultz Innovation Fund is a venture capital fund managed by the Polsky Center for Entrepreneurship and Innovation at the University of Chicago. It provides up to $250,000 in co-investment funding for early-stage tech ventures emerging from the University of Chicago, Argonne National Laboratory, Fermilab, and the Marine Biological Laboratory. The fund's mission is to help researchers transform their innovations into ventures that advance cutting-edge technologies, generate significant financial returns, and create lasting impact for humankind. The fund's investment process mirrors that of a traditional venture capital fund, conducted annually in the Spring quarter. After evaluating applications, finalists undergo a rigorous 10-week due diligence process led by Innovation Fund Associates. Investment decisions are based on the outcome of this process and input from the Advisory Committee. Notable companies launched with the fund’s support include ExplORer Surgical, acquired by Global Healthcare Exchange; Super.Tech, acquired by ColdQuanta; OrisDx, which won the 2022 New Venture Challenge; Flow Medical, which recently secured $5 million in seed funding; and Alnair Therapeutics, which closed an oversubscribed $1+ million pre-seed funding round. The fund is supported by alumni donations, ensuring it remains an evergreen, permanent feature of the University of Chicago’s entrepreneurial ecosystem. One hundred percent of its returns are reinvested back into the fund, supporting the next generation of innovators.

Investment Focus

• Committed team with dedicated technology and business founders
• Significant technical milestones achieved, including proof of concept
• Value proposition of technology validated with end customers

Portfolio Companies