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📢 Q4 2024 First Fund Applications Due Today ⏰
December 15 @ 11:59 pm
The First Fund provides up to $240,000 of pre-seed and seed capital to deep tech companies developing solutions in life sciences, clean tech and advanced materials. First Fund companies must become residents of the Innovation Space as a condition of the investment.
Investment Details
The First Fund investment is in the form of a convertible loan that includes cash in amounts of $30,000 to $120,000 in addition to the value of laboratory, office space and support services.
Innovation Space and services are valued at $30,000 or $60,000 over a six-month period as follows:
* A half lab, one office and support services for 6 months: $30,000
* A full lab, two offices and support services for 6 months: $60,000
The support services package Includes crucial resources such as access to business experts, connection to investors and partners, use of scientific equipment, and amenities like an on-site gym, cafeteria, free parking, free coffee/espresso, sparkling/still water, and collaboration areas (more details at: https://innovationspace.org/lab-space/)
More information on The First Fund including deal terms can be found here: https://innovationspace.org/the-first-fund/