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Genesis is the startup fund associated with the University of Texas at Austin (UT Austin), established in 2016. The fund was created to support student innovators and leaders by providing mentorship and funding. Genesis aims to foster innovation within the UT Austin community, allowing students from all disciplines to access resources that can help them launch their startups.
As of now, Genesis manages a fund size of $1 million and has supported 16 companies since its inception. The organization operates under a unique model where students conduct due diligence, make investment decisions, and guide portfolio companies, while alumni serve as mentors. This structure not only provides financial support but also enhances experiential learning for students involved.
Genesis is located in Austin, Texas, and primarily serves the student body of UT Austin, which comprises over 50,000 students across various disciplines. The fund has established partnerships with industry leaders, including Chevron and Shell, particularly for its Smart Energy Call for Innovation program, which invests in student energy innovations.
Genesis invests in startups founded by UT Austin students, focusing on sectors such as renewable energy, healthcare, and artificial intelligence. The fund supports companies at various stages, including pre-seed, seed, seed-plus (extension), and Series A. Their investment strategy emphasizes non-dilutive funding, meaning they do not take equity stakes in the companies they support.
The organization primarily targets innovations that emerge from the university, providing capital, mentorship, and community support to help these startups thrive. Genesis encourages applications from all students, regardless of their academic discipline, fostering a diverse range of ideas and solutions. The fund's unique student-run model allows for a hands-on approach, where students are actively involved in the investment process, enhancing their learning experience.
Genesis has a diverse portfolio of 16 companies, showcasing a range of innovative solutions across various sectors. Notable portfolio companies include:
Additional active investments include Gazelle Ecosolutions, C4I, Sweetwater, Advark, Big & Mini Boba Factory, Casi Technologies, Clips.ai, Cornerstone, Cove Events, Delve Labs, Elite Sweets, Energy Umbrella, Fruit Leather NYC, HiPR, Loman AI, Mach Transit, Merge Conflict Studio, Midst, MyWorkoutGroup, Sups, Thousand Thread, Thrive Education, and TipX. This diverse portfolio reflects Genesis's commitment to supporting a wide range of startups, particularly those that align with their focus on sustainability and technology.
Jacob Cordova: Co-Founder & Executive Director. Jacob has a background in operations and has been instrumental in shaping the fund's direction since its inception.
Katherine Allen: Co-Founder. Katherine brings expertise in marketing and has played a key role in promoting Genesis within the UT Austin community.
Jeff Auster: Co-Founder. Jeff has a strong background in venture capital and has led several initiatives to support student entrepreneurs.
Clarke Rahrig: Co-Founder. Clarke focuses on strategic partnerships and has been pivotal in establishing collaborations with industry leaders.
Daniel Miyares: Director of Operations. Daniel oversees the day-to-day operations of Genesis, ensuring smooth functioning and effective support for portfolio companies.
Michael Johns: Director of Ventures. Michael is responsible for sourcing new investment opportunities and managing relationships with portfolio companies.
Nick Spiller: Director of Marketing. Nick handles marketing strategies to enhance Genesis's visibility and outreach.
Dana Tran: Director of Peoples. Dana focuses on team dynamics and fostering a collaborative environment within Genesis.
Manu Gorrepati: Director of Technology. Manu oversees technology initiatives and ensures that portfolio companies leverage the latest advancements.
Rishi Sriram: Chief of Staff. Rishi supports the executive team and coordinates various initiatives within Genesis.
Bala Somanchi: Ventures Lead. Bala leads the venture team in evaluating potential investments and supporting portfolio companies.
Balakrishna Ravulapalli: Deal Flow Lead. Balakrishna manages the deal flow process, ensuring a steady pipeline of investment opportunities.
Jonah Gleitman: Deal Flow Lead. Jonah collaborates with Balakrishna to streamline the evaluation of potential investments.
To pitch to Genesis, founders should submit their applications through the Genesis website at genesisut.com. The pitch deck should include a clear overview of the startup, the problem it addresses, the solution offered, and the team behind it. Genesis prefers concise and focused presentations that highlight the startup's potential for impact.
Response times may vary, but founders can expect feedback within a few weeks after submission. Warm introductions are encouraged, especially from alumni or current students involved with Genesis, to enhance the chances of a successful pitch.
Genesis runs the Smart Energy Call for Innovation (C4i), which offers a $50,000 annual investment in student energy innovations. This program is backed by Chevron and Shell and is run in partnership with UT's Energy Institute, launched in 2022.
Genesis has been active in supporting student-led startups at UT Austin since its establishment in 2016. The fund has successfully engaged with the university community, inviting students to apply for funding at the start of each semester.
In 2022, Genesis launched the Smart Energy Call for Innovation program, backed by Chevron and Shell, which provides $50,000 annually to support student energy innovations. This initiative highlights Genesis's commitment to fostering innovation in the renewable energy sector.
As of 2018, Genesis had funded 16 student-led companies, some of which have gone on to raise significantly more capital than their initial funding, showcasing the potential of the startups supported by the fund.
What are Genesis's investment criteria?
Genesis invests in startups founded by UT Austin students across various sectors, including renewable energy, healthcare, and AI. The fund supports companies at pre-seed, seed, seed-plus, and Series A stages, focusing on innovations that emerge from the university.
How can I apply or pitch to Genesis?
Interested students can apply for funding through the Genesis website at genesisut.com. The organization invites applications at the start of each semester, encouraging all UT Austin students to participate.
What makes Genesis different from traditional venture capital firms?
Genesis provides non-dilutive funding, meaning they do not take equity stakes in the companies they support. This model allows student founders to retain full ownership of their startups while benefiting from mentorship and resources.
What is the geographic scope of Genesis's investments?
Genesis primarily focuses on startups founded by students at UT Austin, located in the United States. The fund is dedicated to fostering innovation within the university community.
What kind of post-investment involvement does Genesis have?
Genesis offers mentorship through a student-run model, where students guide portfolio companies and alumni serve as mentors. This involvement helps startups navigate challenges and grow effectively.
What is the fund size and check size for investments?
The fund size for Genesis is $1 million, with check sizes varying based on the stage of the startup and specific needs. The organization focuses on providing adequate support to help startups succeed.
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