Accelerate Blue Foundry

Are you an entrepreneur seeking your next great startup idea?

The Accelerate Blue Foundry is a new program designed to bridge the gap between startup founders and some of the most promising innovations from University of Michigan research. By connecting top entrepreneurial talent with U-M technologies, the program will accelerate the path to startup launch, fostering new ventures that have the opportunity to solve the world’s great challenges.

The Foundry is looking for motivated entrepreneurs to build startups based on technologies from a curated portfolio of U-M innovations. Those who successfully complete the program may pitch ventures to a panel of experts for a chance to launch their startup and secure seed funding.*

Selected entrepreneurs will be matched with revolutionary U-M technologies, and will develop a pitch for funding. From December 16, 2024 through late March or early April 2025, entrepreneurs will have the opportunity to engage with inventors to gather technology background materials, receive ongoing mentorship and support from the Innovation Partnerships Ventures and Licensing teams as they craft their funding pitch. The program will culminate in a selection day where projects will present to the Innovation Partnerships team and investors for an opportunity to license the technology and receive seed investments ranging from $50,000 to $250,000 from the Accelerate Blue Fund.**

Key responsibilities of the selected entrepreneurs will be:

Evaluate technology and build a commercialization and funding plan
Provide executive level leadership for startup
Collaborate with university researchers who developed the founding technology
Complete early startup benchmarks towards commercialization
Complete regular checkpoints with U-M team

*Entrepreneurs will not receive direct compensation for their work.

**This is a competitive program. Not all partnered projects will advance to Selection Day. We anticipate that out of a possible 50 partnered projects, only 15-20 will be chosen to compete for the opportunity to launch with funding on Selection Day. Those not chosen may have the opportunity to continue to incubate their ventures with Innovation Partnerships support for future launch.

Do you want to learn more about the Accelerate Blue Foundry?

Download our one-pager here.

Entrepreneur applications are now closed.

Foundry Portfolio

Click here to view all project abstracts

Life Sciences Projects

Physical Sciences Projects

Accelerate Blue Foundry FAQs

Program Overview

Q: What is the Accelerate Blue Foundry?
A: The Accelerate Blue Foundry is a program that connects academic innovators with entrepreneurial talent to catalyze the formation of startups based on University of Michigan technologies.

Q: What is the main goal of the program?
A: The program addresses the challenge of connecting high-quality entrepreneurs with university technologies to successfully launch startups. By expanding U-M’s network of potential business leaders and strengthening their connections with U-M inventors, the program increases the frequency and success rate of startup formations.

Q: Who oversees the program?
A: The program is a collaborative effort led by Innovation Partnerships, with input from the Ventures and Licensing teams.

Q: Is participation in the Foundry mandatory for U-M innovators?
A: No. Participation is voluntary and intended for those ready to explore commercialization through startup creation.

Q: Is the Foundry changing the fundamentals of U-M’s technology commercialization process?
A: No. The Foundry enhances existing commercialization processes by increasing exposure to potential startup founders and streamlining connections between inventors and entrepreneurs.

Q: Is the Foundry a formal program or is it an extension of U-M’s existing startup processes?
A: The Foundry is a structured program designed to accelerate the startup formation process by proactively matching vetted entrepreneurs with U-M technologies. While it does not fundamentally change U-M’s commercialization process, it introduces an accelerated structure with matchmaking, mentorship and a pitch event to improve startup success rates.

Q: Is the Foundry an incubator or accelerator?

No, the Foundry is neither an incubator nor an accelerator. Instead, it enhances U-M’s existing startup processes by introducing key differentiators:

Proactive talent matching: Actively recruiting and pre-qualifying prospective business leads.
Structured cohort model: Synchronizing team formation and development through a guided program.
Investor engagement: Hosting a multi-startup pitch event (“Selection Day”) to connect teams with targeted investors.
Funding commitment: Ensuring that the Accelerate Blue Fund invests in every credible startup emerging from the Foundry.

While it shares some elements with incubators and accelerators, the Foundry is uniquely designed to streamline startup creation based on U-M technologies.

Eligibility and Participation

Q: How are entrepreneurs selected for the program?
A: Entrepreneurs are pre-qualified through an application and vetting process. While many applicants apply, only a subset is matched with projects based on their expertise and interest. Some individuals who are not selected as business leads may still be considered for supporting roles.

Q: Can I apply to the Accelerate Blue Foundry to receive support for my existing startup?
A: No. The Accelerate Blue Foundry is not a traditional startup accelerator like Y Combinator, it is a startup creation program. The Foundry is focused exclusively on forming new ventures based on technologies developed at the University of Michigan.

Q: I want to join a startup, but I don’t want to lead one. Should I apply to the Accelerate Blue Foundry?
A: No. The Foundry is specifically designed to connect potential startup leaders—founding CEOs—with University of Michigan technologies. It is not intended to match supporting team members with startups. While founders may later seek to build out their teams, this typically happens after the Foundry program, not during it.

Q: I run a business that provides services to startups. Can I participate?
A: No. The Foundry is not designed to connect startups with service providers, and there is no application process for businesses offering services.

Q: Can fractional executives or consultants apply?
A: No. The Foundry is focused on matching potential startup leaders—founding CEOs—with University of Michigan technologies. It is not designed to place fractional executives or consultants, and there is no application process for individuals seeking to provide these services.

Q: Can participants engage remotely?
A: Yes. The program is designed to accommodate remote participation for both entrepreneurs and inventors.

Q: What industries does the program focus on?
A: The program is open to technologies across various industries, including life sciences, engineering, software and energy-related technologies. The Foundry is particularly focused on technologies that align with investor interest and commercialization potential.

Entrepreneurs and Inventors: Roles and Expectations

Q: What is the role of entrepreneurs in the program?
A: Entrepreneurs are expected to lead the business development efforts of potential startups, working closely with inventors to create a commercialization plan and a viable pitch.

Q: Are entrepreneurs hired just to create pitch decks?
A: No. Entrepreneurs are expected to act as business leads for the startups. Their role extends beyond creating pitch materials to leading the company if it is successfully launched.

Q: Are entrepreneurs guaranteed a leadership role in the startup?
A: No. While entrepreneurs aspire to lead the startup and are positioned as potential business leads, leadership roles are determined by mutual agreement among the founding team and are not guaranteed.

Q: Are entrepreneurs compensated for their work during the program?
A: No. Entrepreneurs participate in the program as an investment in future equity opportunities. Those requiring upfront compensation do not align with the program’s vision of startup founders and will not be considered.

Q: When is equity discussed?
A: Equity discussions take place once the entrepreneur and inventor decide to co-found a company. This typically occurs after they have collaborated, aligned on their vision and defined their roles and time commitment.

Q: How are roles and responsibilities determined?
A: Roles and responsibilities are collaboratively decided by the entrepreneur and inventor teams during the program. As with most startups, this will likely occur after the participants become familiar with each other through the exploration of the commercial opportunity.

Q: Are there templates or guidelines for Founders’ Agreements and equity distribution?
A: No formal templates are provided, but best practices, market norms and resources will be shared to guide discussions. Equity distribution is expected to reflect each founder’s contributions and commitments to the startup, and these topics may be covered in an educational module on roles, responsibilities and equity allocation.

Q: Can entrepreneurs participate if they have a full-time job?
A: Yes, but participation requires a meaningful time commitment. Many entrepreneurs balance participation with other commitments during the program’s initial stages. However, once a startup is formed entrepreneurs are expected to devote the majority of their time to the startup leadership role.

Q: What is expected from inventors participating in the program?
A: Inventors are expected to engage openly with entrepreneurs, share their vision for the technology and collaborate to evaluate its commercialization potential.

Q: Do inventors have to commit to a startup during the program?
A: No. Neither the inventors nor the entrepreneurs have an obligation to form a company, or even to complete the Foundry program, except by mutual agreement.

Q: How are inventors prepared for the program?
A: Inventors are given guidance on expectations, the role of entrepreneurs and the process for forming startups. This guidance is offered by their Licensing Managers, as they would in any scenario in which a prospective business lead was meeting with on-campus innovators.

Q: What happens if an inventor and entrepreneur are not a good match or don’t work well together?
A: The program recognizes that not all matches will succeed. If alignment is not achieved or the collaboration is not productive, entrepreneurs and inventors can part ways. In such cases, Innovation Partnerships may explore alternative commercialization strategies, such as engaging a different entrepreneur or pursuing licensing opportunities. Neither party is obligated to move forward unless there is mutual enthusiasm.

Program Structure

Q: What is the timeline for the program?
A: The three-month program runs from February 1 to the end of April. Key activities include technology evaluation, development of a commercialization plan, building relationships and creating a pitch.

Q: What are the key phases of the program?
A: The program involves (1) exploring the value proposition, (2) evaluating data and drafting a pitch and (3) refining the pitch and preparing for Selection Day.

Q: What is the expected deliverable at the end of three months?
A: The goal is to develop an investor-ready pitch. Startups will present to U-M Licensing and Ventures teams, undergo a Pitch Review Team (PRT) evaluation and may pitch to external investors. While startup formation and funding are not guaranteed, the Accelerate Blue Fund intends to invest in all credible startups emerging from the program.

Q: What is Selection Day?
A: Selection Day is the culmination of the program where invited teams will pitch to U-M stakeholders and pre-seed investors to secure feedback and potential funding.

Q: Is Selection Day open to the public?
A: No. Selection Day is a closed event for U-M stakeholders and other invited investors. It follows a format similar to translational grant pitch sessions.

Q: Is participation in Selection Day mandatory?
A: While Selection Day is strongly encouraged, teams that are not ready can continue refining their plans and pitch later.

Q: Can Foundry startups pitch to other investors prior to Selection Day?
A: Yes, but only under certain conditions. The Foundry is designed to prepare startups for investor engagement, and teams that are ready before the program concludes may begin fundraising only if:

The inventors and entrepreneurs are aligned on moving forward.
The Licensing Manager has approved the startup’s licensing path.
The Mentor-in-Residence has been consulted for fundraising guidance.

These steps ensure that early investor discussions align with the startup’s commercialization strategy and licensing requirements.

Q: How many teams typically participate in the program?
A: The program initially engages a broad cohort of teams, with the number narrowing as teams advance toward Selection Day.

Licensing and Investment

Q: What funding is available through the program?
A: The Accelerate Blue Fund commits a minimum of $50,000 to each qualifying startup, with the potential for additional funding based on the startup’s needs.

Q: Will all Foundry startups receive funding from the Accelerate Blue Fund?
A: The Accelerate Blue Fund intends to invest in every credible startup emerging from the Foundry. However, funding is not guaranteed—startups must meet key qualification criteria, including securing a license and presenting a compelling commercialization plan that meets Innovation Partnerships’ standards.

Q: What are the minimum requirements to be considered for investment out of the Foundry?
A: Startups must: (1) include an entrepreneur from the program, (2) be a U.S.-based C-Corp and (3) meet minimum corporate documentation requirements, including a clear cap table.

Q: Can a company receive funding before licensing is finalized?
A: In certain cases, such as therapeutics, funding may be provided before licensing as long as an option agreement is in place and if it aligns with program goals.

Q: Is funding contingent on raising additional capital?
A: No. Funding is committed if the Licensing and Ventures Teams agree to license the technology to the startup, regardless of whether additional capital is secured.

Q: When will the investment from the Accelerate Blue Fund be made?
A: Investment in startups with U-M employee founders requires approval from the Regents of the University of Michigan, a process that typically takes about 90 days. As a result, funding will not be immediate after Selection Day.

Q: If better terms are offered by outside investors, are startups required to take the Accelerate Blue Fund investment to secure a license?
A: No. The Foundry does not require startups to take Accelerate Blue Fund investment in order to secure a license. The AB Fund is flexible and prefers external investors to lead rounds. If an outside investor offers favorable terms, startups are free to accept them without obligating the Accelerate Blue Fund to invest.

Q: Is U-M obligated to sign a license with a company?
A: No. U-M Licensing Managers have the same role in determining the credibility as with any potential licensee.

Q: Could the University license the technology to another party while I am evaluating it through the Foundry?
A: Technologies are included in the Foundry program only when the inventors are open to working with a startup led by a Foundry entrepreneur. The Foundry program allows both the Foundry entrepreneur and the University inventor(s) to vet each other for a potential startup relationship. So long as both the Foundry entrepreneur and the University inventor(s) are interested in continuing to pursue that relationship, the University will not license the Foundry technology to a third party during the Foundry program.

Q: Do entrepreneurs need to sign an NDA before engaging with inventors?
A: Entrepreneurs will receive NDAs from and at the discretion of the Licensing Managers. NDAs may not be needed for initial conversations between entrepreneurs and inventors. However, in order to facilitate open, in-depth discussions with inventors about their technologies, they will likely be required.