PCI Ventures updated its flagship programs this past year that support University startups.
The Upstart program, which offers a wide array of services to assist entrepreneurial faculty members with the company formation and development process, now allows company founders to have a limited amount of anti-dilution protection while the company assembles its management team. Penn will take most of the dilution from bringing team members aboard; allowing the founders to stay as close as possible to the Patent Policy limit of 49.9% ownership.
The UPadvisors program which is designed for a team that needs less ongoing support, now allows companies to start as wholly owned by the founders with Penn receiving a deferred equity agreement (SAFE) for the PCIV services provided under the program. (Note: the Company will still need to conform to the university Patent Policy).
Michael Poisel, Executive Director of PCIV hosted a webinar to share an overview of the enhanced offerings.