Feb. 8, 2016
by Vienna McGrain
The acquisition of investment funds is one of the most difficult obstacles for early-stage companies to overcome. Armed with that knowledge, RIT is providing a financial “kick start” to companies through its Venture Fund.
James Watters, senior vice president for finance and administration, said the fund—created three years ago—was the result of examining RIT’s innovation and entrepreneurship offerings and realizing that providing much-needed funding would help start-ups get off the ground. Money for the fund comes from the university’s operating reserves. As with other venture capital arrangements, RIT receives equity in exchange.
RIT’s reputation is behind us and everyone stands to gain from this investment,” said Turner. “As a young company, we have been working hard to get our name out in the public. Now it’s time to scale up, and the investment and support from RIT will help that.
What's the buzz?
"Since incorporating the Vidget in our classroom, I have noticed an improvement in attention span, participation, and regulation in my students"
Tara, Occupational Therapist
"The little girl I used it with sat down and ate lunch which she usually does not do - she tends to stand or sit and wiggle in her seat."
Melanie, Director of Occupational Therapy
"When Pearl is in a Vidget, her behavior is 100 times better than when she’d in a normal chair. She’s still has difficulty sitting for that long, but it makes a HUGE difference! Without it, she’s everywhere."
Lara, Pre-K Teacher