(1) Can portfolio companies apply for follow-on funding?
Yes! A portfolio company can apply for follow-on funding as early as the semester following their first round of funding. Just make sure to show concrete improvement and continued success in your second application.
(2) What kinds of products and services can I buy with my funding?
Previous funding uses have been web hosting, software, and prototyping costs. We prefer to fund expenses that will produce the highest yield for our portfolio companies. As a result, we discuss founders’ funding needs on a case-by-case basis.
(3) How is Innovation Fund related to Weiss Labs?
The Innovation Fund is the funding arm of the Weiss Tech House, whereas WeissLabs is the incubator at the Weiss Tech House.
(4) What constitutes a Penn founder? What is the IF definition of a founding team?
A Penn founder is a founder who is currently an enrolled student or Professor at the University of Pennsylvania in an undergraduate or graduate school. A founding team consists of the individuals who started and own equity in the venture. If you need further clarification, please shoot us a note.