“We are excited to establish the Kent State University chapter of the Northeast Ohio Student Venture Fund. This offers unique educational opportunities to students interested in entrepreneurship and venture financing,” said Sergey Anokhin, Ph.D., interim director of the Center of Entrepreneurship and Business Innovation (CEBI) at Kent State’s College of Business Administration.
NEOSVF is a student-run, independent, not-for-profit organization supported by the University of Akron Research Foundation. It gives students a chance to go through the process of choosing high-tech and innovative startups to invest in. “The opportunity to host a NEOSVF chapter at the College of Business Administration fits with the CEBI’s outreach mission and benefits both Kent State students and entrepreneurs in our region,” said Deborah F. Spake, Ph.D., dean of the College of Business Administration.
NEOSVF was recently awarded $125,000 by The Burton D. Morgan Foundation, matching the funds provided through the Ohio Third Frontier Commission’s Pre-seed Fund Capitalization Program, giving students a total of $250,000 to invest in companies that meet the State of Ohio’s definition of its primary industries of focus.
“Kent State University's participation is instrumental in making the Northeast Ohio Student Venture Fund operational and successful since funding was contingent on other universities creating their own chapters to expand opportunities to as many students in the region as possible,” said John Myers, vice president of the fund and Kent State alumnus.
The search will begin soon for student managers. Those selected will begin working as a team at the start of the fall 2014 semester. Interested students should contact Mary Heidler, CEBI manager at 330-672-9430.
For more information on the Center for Entrepreneurship and Business Innovation or the College of Business Administration visit www.kent.edu/