WOMEN'S STORIES: An Interview with Nancy Sullivan, CEO & Managing Director of Illinois Ventures

In June, OUP released our Research Realized interview with Nancy Sullivan, CEO and Managing Director of Illinois Ventures. Illinois Ventures is a seed and early-stage technology investment firm focused on research-derived companies in information technologies, physical sciences, and life sciences.

While their origins are investing in businesses based on innovations from the University of Illinois, they have also expanded to explore other regional opportunities. Illinois Ventures offer three types of funding: proof of concept grants, seed funding, and venture capital.

Most universities I know are now employing some sort of internal proof-of-concept grants — but to combine those with seed funding and venture capital under one roof is a fairly unique concept. The proof-of-concept funding is Illinois Ventures’ newest area of funding, with $50,000 for a first phase and possibly a larger amount in a second phase if the first phase goes well.

For their seed stage funding, Illinois Ventures typically invests around $150,000 in a $500,000 round, usually through a convertible note. Illinois Ventures recently announced the raise of their third venture fund and have already started investing out of it.

Nancy and I explored a range of topics during the interview, from the work done at Illinois Ventures, to attracting talent to Illinois startups, to her work at the Women’s Entrepreneurial Life Sciences Initiative. Excerpts of the interview are below, but you can find the full interview on SoundCloud or iTunes.

Read more here.