Arizona Board of Regents already has a small interest in these companies through the licensing arrangement to the start-up but ASU does not take additional interest through the company's participation in the programme, the university said by email.
US-based Arizona State University (ASU) has signed its first partner of its student accelerator.
Dignity Health Arizona, the parent organization of local St Joseph’s Hospital and Medical Center, has joined AZ Furnace.
AZ Furnace said technologies from its university research would form the basis for start-ups even if it was open to external parties with no university connection. Arizona Board of Regents already has a small interest in these companies through the licensing arrangement to the start-up but ASU does not take additional interest through the company’s participation in the programme, the university said by email.
In partnership with the University’s Technology Transfer Office, Arizona Technology Enterprises (AzTE), the accelerator will offer a six-month incubator programme with funding, space in the ASU SkySong facility and access to mentors.
Charlie Lewis, vice-president of venture development for AzTE, said: "ASU Venture Catalyst and AzTE are taking a proactive step to ensure that ASU’s most valuable technologies are given all the assistance they need to realize their full potential. We are excited to be partnering with Venture Catalyst on the Furnace Accelerator and anticipate some very promising companies getting launched as a result."
ASU has spun-out more than 50 ventures based on university intellectual property, with eight having been acquired and two having had an exit via an initial public offering.
