Central Square subway station, Cambridge, Mass.
The Experiment Fund, a joint venture of Harvard University’s engineering school and venture capital company New Enterprise Associates (NEA), opened today in Cambridge, Massachusetts. The fund plans to support technology-based student start-ups in Cambridge and companies begun elsewhere by former students.
The venture expects to support companies working in information technologies, health care, and energy. NEA’s Patrick Chung, one of Experiment Fund’s founders, expects the fund to support several promising companies over the next two years, with each new company receiving up to $250,000 in capital.
Cherry Murray, Dean of the Harvard School of Engineering and Applied Sciences says the fund “will provide a much needed set of people, skills, and financial resources to spur the innovation and idea creation of our students.” Murray says the school will designate faculty to advise student entrepreneurs about the fund and other local resources.
In November, Harvard opened its Innovation Lab at a satellite campus across the Charles River in Boston, to encourage entrepreneurial activities by students and faculty. The i-Lab, as it’s called, aims to bring together entrepreneurs from the local community, as well as encourage innovation across Harvard’s schools and academic disciplines.
Read more: Harvard Entrepreneur Center Opens
Photo: Bart Howard Everts/Flickr
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