Universiteit Twente (University of Twente) and Saxion academy today launched a fund for student startups. The Dutch Student Investment Fund will be led by students as well.
The Dutch Student Investment Fund will invest 25.000 to 100.000 euro early stage (pre-seed) for a convertible loan. The fund aims at student entrepreneurs from both UT and Saxion, as well as PhD students and graduates (no more than 1 year).
The first investment was done today. LipoCoat from alumnus Jasper van Weerd, who graduated this year from Saxion and promoted on UT, received 40.000 euro. The startup makes body and skin friendly coatings for medical appliances, such as contact lenses.
The board of the fund, led by students and experienced investors, has not decided on a strategy yet, said Janinka Feenstra from Kennispark Twente to StartupJuncture. Instead the fund strategy will be shaped throughout the years.
Photo by jeanmarc @ fotomelia (creative commons)