UM System to invest $5 million in university-affiliated entrepreneurs

Chosen entrepreneurs will receive up to a $500,000 seed to help cultivate their new businesses.

The UM System will draw from its portfolio of investments, worth $2.4 billion as of fiscal year 2009, to fund the program. The purpose is to promote the growth of university-based intellectual property, said Mike Nichols, vice president for research and economic development.

BY Megan Cassidy

Full Story: http://www.columbiamissourian.com/stories/2010/10/13/um-system-invests-its-own/