The “Chancellor’s Innovation Fund” at North Carolina State University was established in 2010 to provide the critical funding needed to translate technologies to a point where a start-up can be formed for commercialization or a license can be executed with an existing company.
Since its creation, the results of the investment have been impressive. According to this article, the CIF has granted nearly $3.7 million to 57 projects that, in turn, have attracted more than $64 million in follow-on funding. That’s a nearly 20 to 1 return. The funded projects have also led to 32 start-up companies, 59 license agreements and $1.6 million in licensing revenue.