Venture fund is new economic booster

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A great idea, hard work and funding are essential elements in launching a successful business.

RIT is offering financial help through the new RIT Venture Fund. Companies with ties to the university are eligible to apply for funding. That includes students, faculty, staff, alumni and businesses operating in RIT’s business incubator, Venture Creations. RIT already provides support to fledgling businesses through Venture Creations and RIT’s Simone Center for Student Innovation and Entrepreneurship. Through the Venture Fund, RIT can now offer financial help. An advisory committee of RIT trustees and administrators has been formed to oversee the project. The $3.5 million to start the fund comes from RIT reserves.