The Northeast Ohio Student Venture Fund's mentions in local media are archived here. Click the title of any article to be brought to its original source.
Check out the NEOSVF article in Crain's Cleveland!
NEOSVF announces investments in Apollo Medical
The Northeast Ohio Student Venture Fund (NEOSVF) Board of Directors has approved an investment of $25,000 in Apollo Medical Devices, a rapid testing method for blood analysis.
Apollo Medical Devices is developing technology designed to provide physicians with information about a patient’s condition from a single drop of blood. The rapid testing method takes blood directly without needing a vein, and is cheaper, faster, and requires less testing material than current diagnostics.
NEOSVF is a student-run venture fund with chapters on six Northeast Ohio campuses: The University of Akron, Case Western Reserve University, College of Wooster, Kent State University, Notre Dame College, and Walsh University. Student members of each fund chapter receive written applications from Northeast Ohio startup companies, watch in-person presentations, and conduct detailed due diligence on a selection of companies before making recommendations on a $25,000 investment. The chapters generally include students from many academic disciplines (not just business) and are overseen by a faculty member or professional advisor. Since its formation in 2012, NEOSVF has invested in four companies: ADAP Nanotech, The Learning Egg, Paragon Robotics, and Wastebits. The fund is supported by the Burton D. Morgan Foundation, Ohio Third Frontier, and the University of Akron Research Foundation.
-NEOSVF Press Release, April 30th 2015
After investing in a handful of early-stage companies, a student startup booster at the University of Akron is seeing the first fruits of due diligence.
On Wednesday, the Northeast Ohio Student Venture Fund accepted a check for $25,000 from Wastebits, an Akron company that designs software for the waste management industry.
The check was presented with some fanfare at a meeting of the ARCHAngels Network at Quaker Square. It heralded the first return on a NEOSVF investment.
-Robert L. Smith, The Plain Dealer/Cleveland.com, February 2015
Students benefit most from real-world experience in the startup process. The Northeast Ohio Student Venture Fund (NEOSVF) is a prime example of an experiential model that is working for graduate students. Acting as investors, students participating in the NEOSVF learn what venture capitalists and industry investors look for when making investment decisions. As students take companies through an intensive due diligence process, they learn to appreciate the perspective from “the other side of the table” and apply this first-hand experience to their own future companies or startups.
-Burton D. Morgan Foundation, February 2015
The Northeast Ohio Student Venture Fund has generated its first profit: $833.33.
For the first time, the fund — which is run by graduate students at six local colleges — received a check from one of the companies in its investment portfolio last week.
A waste management software company called Wastebits borrowed $25,000 from the Student Venture Fund in April. If the Akron-based company had held on to the money, it would have eventually converted into equity, giving the fund an ownership stake in Wastebits. Instead, the company decided to pay it back early, with interest.
-Chuck Soder, Crain's Cleveland Business, February 2015
"If it weren’t for the $25,000 loan Wastebits received last year from the Northeast Ohio Student Venture Fund (NEOSVF), the burgeoning local startup might not exist. Instead, the 18-employee company, which produces software that organizes waste disposal for generators, transporters and waste management, is turning profits. Wastebits is even able to pay back its $25,000 NEOSVF loan, and did so at the ARCHAngels Investment Network meeting Feb. 18 at Quaker Station on The University of Akron campus.
“The NEOSVF provided us the needed funding to be able to accelerate our growth in 2014. Without their help, Wastebits would not be where we are today,” says Dan Collins, its founder and CEO.
-University of Akron press release, February 2015
The Student Venture Fund at Notre Dame College, also known as NDC Shark Tank, a chapter of the Northeast Ohio Student Venture Fund (NEOSVF), has won $25,000 in startup funds for its selection: GiveNext LCC.
The winning presentation team from Notre Dame is comprised of seniors Vanessa Matthes and Jamie Robinson, and supported in-person by fellow "senior sharks" Tawnia Almaraz, Suzanne Morris, Sarah Weyer and Ian Dawson. The students won support for GiveNext from the College’s Student Venture Fund and entrepreneurship club, called NDCe, and endorsed GiveNext before NEOSVF as part of the accelerator’s spring funding cycle.
-Notre Dame College press release, January 2015
After Stambaugh developed the software, he then began to raise capital. To date, he has received the Innovation Fund Grant A ($25,000) from Glide (www.glideit.org) based at Lorain County Community College, University of Akron Student Ventures Fund ($25,000), an additional Innovation Fund Grant B ($100,000) also from Glide and an additional investment by Hatch (www.hatch.us.com), a Cleveland-based technology coaching and investment fund headed by Christopher Celeste and Blake Squires.
-Cleveland.com, July 2014
“We are excited to establish the Kent State University chapter of the Northeast Ohio Student Venture Fund,” said Sergey Anokhin, Ph.D., interim director of the Center for Entrepreneurship and Business Innovation at Kent State’s College of Business Administration. “This offers unique educational opportunities to students interested in entrepreneurship and venture financing.
"The opportunity to host a Northeast Ohio Student Venture Fund chapter at the College of Business Administration fits with the Center for Entrepreneurship and Business Innovation’s outreach mission and benefits both Kent State students and entrepreneurs in our region,” said Deborah F. Spake, Ph.D., dean of Kent State’s College of Business Administration.
-Kent State University press release, April 2014
The Burton D. Morgan Foundation Board of Trustees awarded a grant of $125,000 to the Northeast Ohio Student Venture Fund (NEOSVF) to continue to help grow technology companies in the region. The funding matches $125,000 provided through the Ohio Third Frontier Commission’s Pre-seed Fund Capitalization Program, giving the NEOSVF access to a total of $250,000 to be invested in high-tech, high-growth companies that meet the State of Ohio’s definition of its primary industry focus.
Deborah Hoover, President of The Burton D. Morgan Foundation, noted “The Foundation is excited to support this innovative means of engaging talented students in the startup process while simultaneously providing funds to help fledgling businesses grow. We expect NEOSVF to be a win-win for students and startups.”
-Burton Dr. Morgan Pipeline Newsletter, March 2014
The Burton D. Morgan Foundation recently awarded more than $1 million in grants to support programs for youth, college students, and adults to help them develop skills and gain experience in starting business ventures.
*Northeast Ohio Student Venture Fund: $125,000 for a student-run investment fund."
-Akron Beacon Journal, February 2014
" student-run venture fund located at the University of Akron now has $250,000 to invest in start-up businesses and plans to add chapters from other universities.
"The Northeast Ohio Student Venture Fund has received a $125,000 grant from the Burton D. Morgan Foundation in Hudson. That provided the necessary match for the fund to receive a $125,000 grant from the Ohio Third Frontier Commission.
-The Plain Dealer, February 2014
Resourceful students from The University of Akron’s law and graduate business schools have expanded their campus initiative into a regional fund to make the experience available to other campuses and to access state funding for new tech-based ventures.
The NEO Student Venture Fund (NEOSVF) is called a “student venture fund” because it is student-managed, not because the funding specifically targets student ventures. Invested capital from the fund is for promising new ventures from any source, including from faculty and the general public, as recommended by the student managers of the fund. The fund is intended primarily to give advanced students real-life opportunities for conducting due diligence on new ventures and making seed capital investment recommendations for startups.
-Burton D. Morgan Foundation, November 2013
"A Strong Interest From Students: An interesting development of ARCHAngel is the strong interest it has drawn from students. About 125 people attend the quarterly meetings, and of those typically about 50 are students from across northeast Ohio. “The educational experience these students get is quite important,” Dr. Rosenbaum said. “We’ve even spun off a student venture fund which is now expanding beyond the University of Akron into northeast Ohio.”"
-National Research Council, 2013 publication
The University of Akron is one of the biggest proponents of local entrepreneurs. The University of Akron’s Research Foundation (UARF) undergoes cutting edge research and invests time and money to build, attract, and retain high tech companies locally, including sponsoring technological research. The Akron Regional Change Angels (ARCHAngels) helps to present technologies and ideas from local start-up companies to investors and business professionals who can help to fund those ideas and take them to the next level. The Student Venture Fund at the University of Akron conducts due diligence of early stage companies, provides some micro funding, and helps connect those companies to additional funding resources.
-Office Space Working.com, August 2012
A fine art printmaking studio and gallery and a state-of-the-art indoor climbing facility have earned top honors among six finalists in the University Park Alliance (UPA) Start UP! Business Plan Competition. Charter One Foundation, through its Growing Communities Initiative, is presenting sponsor of the contest. Each of the two winners will receive $17,500, assistance locating a suitable site within University Park and ongoing consulting support as they bring their business ideas to fruition from in-kind sponsors Vorys, Sater, Seymour & Pease LLC, and Meaden & Moore.
Presented by Charter One Foundation through its Growing Communities Initiative, the competition also receives support from University of Akron Research Foundation; The Student Venture Fund at The University of Akron; Vorys, Sater, Seymour & Pease LLC; and Meaden & Moore.
-Akron Citizen Journalist, May 2012
The Student Venture Fund at The University of Akron (UA), a chapter of the Northeast Ohio Student Venture Fund, selected student-run, technology-spin-off company ADAP Nanotech LCC to receive $25,000 in student-raised start-up funds.
ADAP, an advanced materials company centered on microprocessor heat management, was one of two finalists competing to receive the award. The other finalist was Stockl.y, a real-time financial news and research website.
-West Side Leader, February 2011
More universities have begun to establish investment vehicles using endowments and donations, and the University of Oxford Centre for Entrepreneurship and Innovation released a report recently on some of the university student-led venture capital funds. The report, based on a survey of 13 VC funds in which students manage, administer, and make investment decisions, aims to provide an overview of the student-led venture investing community - its goals as well as its returns.
Universities participating include the Penn State's Garber Venture Fund, Miami University's Student Venture Fund, New York University's Student Social Venture Fund, and The University of Akron's Hop-On Student Venture Fund.
"The complete survey is available here."
-Audrey Watters, ReadWrite.com Contributor / Oxford Centre for Entrepreneurship and Innovation, July 2010
Every journey begins with a single hop.
A group of graduate students at the University of Akron have raised the first chunk of capital for the new Hop-On Student Venture Fund, which will invest in technology companies in Northeast Ohio, focusing mainly on the biomedical, polymer, and green technology industries.
The group earlier this year received a $10,000 donation from Richard Pogue, senior adviser at Cleveland law firm Jones Day. It now aims to raise a total of $100,000 for the nonprofit fund, the name of which plays off the university's kangaroo mascot.
-Chuck Soder, Crain's Cleveland Business, July 2010