Singularity University to launch $50 million venture fund to tackle the world's 'grand challenges'

Exciting new venture fund for startups

Gigaom

Forward-looking startups will have a chance at $50 million later this year when Singularity University, an education center and accelerator based at Mountain View’s NASA Ames Research Center, launches its first venture fund.

The university will begin raising capital during the second quarter of 2014, according to managing director of new venture development Sandy Miller. The fund will focus on companies launched by SU students, alumni and faculty.

Everything SU does is tied to pursuing “exponential technologies:” tools that are developing so fast that small teams of people can now use them to accomplish tasks that once required a large company. Examples include robotics, biotech and nanotechnology. SU challenges these fields to put their work toward solving major world problems like poverty, education and security.

SU has used these principles to populate its accelerator, which is separate from the venture fund, with an interesting mix of companies; an approach it will apply…

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