One of the three signature programs of Ignite Cornell Research Lab to Market gap fund series, the Fellow for New Ventures was launched in 2022 to fund and train Ph.D. and master’s holders with entrepreneurial outlooks to start technology ventures.

Each fellow is paired with a faculty inventor and embedded in their lab for technology development, with access to Cornell’s incubator network for business development.

The program aims to build new solid businesses, grow entrepreneur scientists and engineers, advance technology commercialization, and enrich Cornell’s venture ecosystem by creating high-value startup companies based on the partnership of an Ignite candidate and faculty inventor.

The expert-led training is designed to facilitate the Fellows in incorporating and successfully launching a spin-out company based on Cornell University-assigned intellectual property. The program curriculum focuses on helping science and technology inventors transition into a business mindset by introducing a legal framework for incorporation, IP protection strategy, license negotiation, market discovery, pitching, and leveraging non-dilutive and investor-backed funding opportunities. Throughout the program, fellows receive 1-on-1 mentorship in partnership with the Cornell University incubators. In addition, the fellow cohort participates in monthly meetups that introduce external speakers and partners tailored to the Fellows’ specific needs.

• Selected projects receive approximately $120K a year to support fellow compensation and basic experiment expenses
• Fellows are Cornell employees under full-time commitment during the program
• During the fellowship, fellows report to an incubator director at Center for Life Science Ventures, Praxis or Runway Startups
• Workplace: Fellows work at the faculty inventor’s lab for technology development and have access to the incubator as an associate member for business development
• Initial training sessions and continued mentorship throughout the program
• The financial support provided throughout the program will be used as the principle of a SAFE note, executed by the startup company once it’s established
• 3-6 Ignite Fellows per cohort

This model aims to leverage the technical expertise of the labs where inventions are created and the Cornell ecosystem’s venture incubation capabilities to build a solid foundation for new ventures and provide Ignite fellows with technical and business training.