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Friday September 19, 2014

First Round Capital to Fund $500K to NYC University Startups

Image representing First Round Capital as depi...

Image via CrunchBase

Students in NYC will now have access to a $500,000 fund put into place by First Round Capital. The initiative, The Dorm Room Fund, was begun in Philadelphia and last year invested in student-run start ups at the University of Pennsylvania and Drexel. NY-based Partner Phin Barnes, said that the idea behind the fun is that students who are motivated and intelligent enough to start a company in college should be capable of handling a  venture fund. Out of students from NYU, Columbia, Princeton, and Cornell’s Tech Campus who apply, 10-11 students will be chosen to source investments and make decisions on startup ideas.

TechCrunch