About this Program
First Fund is a source of funding for companies looking to be a resident company at the Delaware Innovation Space (DISI). The First Fund provides selected early stage science startup companies with up to $75,000* to access to DISI's business building expertise, core programs, scientific equipment, and extensive, multi-use wet laboratories, in addition of up to $75,000* in cash to seed operations for a combined award value up to a total of $150,000* which is placed via a convertible note.
The mission of the First Fund is to provide make high quality investments early on in a science entrepreneurs journey, even being the first believer in a company to allow critical lab and other work to be accelerated to enable milestones to be met quicker and the next wave of investment to occur.
The First Fund was designed to help early stage "hard science" startups in areas such as:
DISI will review applicants on an on-going basis, with a strong preference to run a batch of investments through a series of steps to evaluate the merits of each company . The entire process will take two to four months to complete dependent on when the next competitive process begins.
To apply, complete this on-line application here in Gust, which should take around 60 min.
For more information about the First Fund or in general about the Delaware Innovation Space, please contact Bill Provine via email at firstname.lastname@example.org
*The investment amount a startup is eligible for via First Fund will be dependent upon the requested duration of residency at the Delaware Innovation Space matched up to 1:1 with cash value of residency. Maximum cash investment is $75,000 USD. First Fund REQUIRES residency at Delaware Innovation Space and cash will not be released until startup moves into Delaware Innovation Space and begins operations.
Delaware Innovation Space (www.deinnovates.org) is a multi-dimensional, non-profit incubator & accelerator for start-ups that leverages the expertise, resources, and infrastructure of the world renown Experimental Station campus in Wilmington, Delaware. It is a public-private partnership between the State of Delaware, DuPont and the University of Delaware. Delaware Innovation Space is an ecosystem where scientists, business leaders, community members, investors, and service providers in the industrial biotech, advanced materials, chemical ingredients, renewable energy, nutrition and healthcare fields can build business concepts together and accelerate the path to commercialization.
- Funds up to $150k per team
Aerospace, Agriculture, Biotechnology, Chemicals and Chemical Products, Clean Technology