Calling all who are associated with OSU companies created by faculty, students, staff and alumni as well as all startups or spinouts utilizing OSU technologies and members of the broader Oregon State University community.
The Industrial Technology Investment Corporation (ITIC) and the OSU Advantage Accelerator are offering you the opportunity to gain a minimum investment from ITIC of $250,000 USD.
Applications were due by midnight on Wednesday, June 19. You must have be submitted the online application and sent in all requested attachments via email.
Along with your application, provide your pitch deck and a three year financial pro forma (income statement and statement of cash flows) via email to firstname.lastname@example.org.
If your company does not have revenue during the company’s current fiscal year, you must also upload two letters of personal recommendation.
June 19: All applications and supporting materials must be received by midnight PST
June 20-21: Verification of acceptance of your application and materials will be emailed to you.
June 24: Start of diligence by OSU team. This process will take most of the summer. You may be asked for additional materials, answers to clarifying questions and/or in-person presentations.
August 30: Teams will be notified if they have made it to a short list of companies which will be forwarded from OSUAA to the ITIC team who will do additional diligence.
September: Short-listed teams will be presenting to top executives of ITIC.
September 23: Finalist will be announced.
December: Announcement of the company(ies) gaining investment will be made public.
Additional funding could be made beyond the $250,000 investment by ITIC depending on its determination of a company’s business potential, market readiness and contribution to the industrial ecosystem in Taiwan. Key industries include green energy, smart machinery, biotechnology, pharmaceuticals, iot/ai/robotics, ag-tech and the circular economy (a regenerative system based on closing and reducing energy and material loops).
Companies accepting investment also accept being included in marketing and promotional materials and events of OSU.
About ITIC: ITIC harnesses deep technology expertise and a global ecosystem of resources to nurture innovative companies. Established in 1979, ITIC is one of the oldest and most prestigious venture capital firms in Taiwan, and has invested hundreds of millions in companies across the globe. The company has nurtured leaders like United Mineral and Chemical Corporation, AU Optronics and Taiwan Semiconductor Manufacturing Corporation (the world’s first dedicated integrated circuit foundry) and boasts well over US$200 billion in market value. ITIC’s value proposition to startups flows from two distinct strengths:
More information on ITIC can be found here.
About the OSU Advantage Accelerator: The OSU Advantage Accelerator is part of the overall Advantage program, part of the Research Office at Oregon State University focused on increasing the impact of Oregon State University research, driving the development of the regional innovation economy, developing career resilient students and creating global impact.
The Advantage Accelerator faculty, students, staff and the broader OSU community take their ideas to market. It supports these activities with a variety of entrepreneurial education programs and technology development funding programs to provide the tools necessary to create successful spinouts and startups. Since its inception in 2013, it has helped over 120 companies be formed which have gained over $11 million in revenue, raised $14 million of capital and secured $14.5 million in grants.
More information on the Oregon State University Advantage Accelerator can be found here.