Delaware Innovation Space Launches First Fund Investment Program

Up to $75,000 in value per company available to accelerate early stage science startups

First Fund provides early stage startups with critical funding to easily and quickly access Delaware Innovation Space’s business building expertise, core programs, scientific equipment, and extensive multi-use wet laboratories. Eligible startups can each secure an investment of up to $75,000 from the First Fund Program, via a convertible note, funding monthly site-license costs for residency at the Delaware Innovation Space.

“One of the biggest barriers in building a science based business is access to early stage capital,” said William D. Provine, Delaware Innovation Space President and CEO. “Science startups require specialized capabilities that routinely incur substantial cash outlays even at the earliest stages of development,” according to Provine, “raising funds for scientific startups can take in excess of 12 months in today’s economic climate, delaying the start of critical work by more than a year. The goal of First Fund is to provide science entrepreneurs a mechanism to start the critical lab and business development work today, getting them to successfully reach their early important business milestones in rapid fashion.”
First Fund

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