Yale champions innovation with $2.5m

Yale University has created a $2.5m Yale Entrepreneurial Institute (YEI) Innovation Fund to invest in promising student ventures coming out of the university.

Partnering with early-stage investor Connecticut Innovations, the university will look to make investments in student companies of up to $100k, with a preference for startups which have passed YEI’s Summer Fellowship.

Elm Street Ventures will manage the fund.

There are currently 75 active YEI firms which have raised a total of $66m in venture funding and created over 300 jobs.

Claire Leonardi, chief executive of Connecticut Innovations, said: “YEI consistently presents us with some of the best early-stage companies. We are excited to have the opportunity to strengthen our partnership through this funding initiative.”