A Pennsylvania-based venture capital firm is teaming up with IU Ventures to help Indiana University-affiliated entrepreneurs to obtain start-up money to launch high-tech companies. Osage University Partners announced the new partnership which could help IU faculty, staff or alumni who are seeking venture capital.

“Being an associate partner of OUP provides further resources to facilitate the success of our portfolio companies with OUP as a potential co-investor,” said Teri Willey, manager of the IU Philanthropic Venture Fund and executive director of IU Ventures. “This will help address the risk that a company won’t raise enough money to carry out its objectives or find the right type of funding."

OUP invests in startups that develop technologies in partnership with top research institutions. Currently, the VC has partnerships with more than 100 academic institutions, such as Princeton University, Massachusetts Institute of Technology, University of Chicago, and the University of Notre Dame.

"We are pleased to add another institutional partnership in Indiana as the state cultivates an innovation hub for the Midwest," said Kirsten Leute, senior vice president of university relations at OUP. "Our partnership with IU Ventures marks OUP’s first direct relationship with a university venture fund," 

Willey said IU Ventures will introduce OUP to several investment opportunities in Indiana, including its 14-company portfolio.