Urvaksh broke the news this morning about the new $1 million fund for Georgia Tech student startups called the Atlanta Student Fund (site coming soon) as part of Atlanta Ventures. Georgia Tech is an amazing university with a top-flight engineering school and a tremendous asset to the City of Atlanta.
Here are a few notes on the Atlanta Student Fund:
- $5,000 – $10,000 investments in startups with a current GA Tech student on the founding team
- Convertible note (a loan that turns into equity upon a qualified financing event)
- Memberships and desks at the Atlanta Tech Village
- Target of 10 investments per year (opportunistic)
- $1 million fund to invest over three years, inclusive of follow-on investments
Overall, the goal is to increase the number of successful, seed stage startups in Atlanta that then grow into larger, meaningful companies. Georgia Tech has tremendous talent and there’s a real opportunity to increase the amount of entrepreneurial activity on campus.
What else? What are your thoughts on the opportunity for more startups at Georgia Tech?