UTEC launches a new initiative to help deep tech founders commercialize their work
The University of Tokyo Edge Capital Partners (UTEC) is launching a new program to address a problem the venture capital fund says many deep tech founders face. They may raise pre-seed capital from an incubator or accelerator program, but reach a funding gap before moving on to early-stage rounds. Without financial resources, it takes longer to commercialize their technology, no matter how promising.
UTEC, an independent venture fund associated with The University of Tokyo and other academic institutions, created the UTEC Founders Program (UFP) to address that gap. It offers two tracks: equity, which invests up to $1 million with flexible terms, and grants, a nondilutive donation of about $50,000 (or occasionally up to $100,000) awarded to recipients every six months.