University of Alaska Fairbanks
Alaska Seed Fund
Fairbanks, AK
Seed Fund Support
Federal Share: $299,966.00
Local Match: $299,966.00
The University of Alaska Fairbanks will create the Alaska Seed Fund to address the critical gap in early-stage funding in Alaska’s startup ecosystem. Alaska is currently experiencing a recession, with a need to diversify its economy, and developing Alaska’s young but burgeoning innovation-based economy is part of the solution. The Alaska Seed Fund, executed by the University of Alaska Fairbanks, will address the problem and be a primary source of innovation in Alaska, with the support of essential private partners. Additionally, the University of Alaska Fairbanks is classified as an Alaska Native-Serving Institution and well-positioned to reach native Alaskans. Within three years, this project will produce a seed fund capitalized at $300,000 or more, a portfolio with at least one investment, a sustainable business model, and a network of programmatic and financial supporters. This project will help build an innovation pipeline that will fuel the future of the 49th state.