PROF DEV EVENT: NYU Innovation Venture Fund
|November 19, 2010|
|5:00 pm||to||6:00 pm|
Frank Rimalovski , Managing Director, NYU Innovation Venture Fund
In June, NYU announced that Frank Rimalovski would serve as the Managing Director of a $20 Million Innovation Venture Fund. During his presentation at ITP he will discuss the goals of the Fund, programs and events the fund is sponsoring and how the NYU community can get involved and apply for funding.
About the Fund
In an effort to accelerate the transformation of ideas and discoveries by its students, faculty and researchers into external ventures, NYU has formed a $20 million venture fund to provide seed funding for startup companies based on NYU technologies. The Fund is expected to make its first set of investments in early 2011.
The University has named Frank Rimalovski — who has extensive experience in the venture capital sector, in spurring institutional entrepreneurship, and as a technology executive — as the fund’s managing director. He will have primary responsibility for building entrepreneurial leadership teams and structuring the efforts to form companies around promising technologies within NYU, and for negotiating investments and crafting partnerships with other early stage investors.
About Frank Rimalovski
Mr. Rimalovski, the fund’s managing director, brings 12 years of experience identifying, developing, funding and growing early stage companies based on research innovations. He comes to NYU from New Venture Partners — a venture capital firm dedicated to funding early-stage technology spinouts with over $700 million under management — where he was a partner since co-founding the firm in 2001. Prior to this, Mr. Rimalovski was a Director/entrepreneur-in-residence at Lucent’s New Ventures Group, where he developed and incubated new businesses based on Bell Labs’ innovations. Before joining Lucent in 1998, he spent six years working with Silicon Valley technology leaders including Sun Microsystems, Apple and NeXT, where he held numerous positions in product management, marketing and business development. Earlier, he was an investment banker in the M&A groups of Bear Stearns and Rodman & Renshaw. He received his bachelor’s degree from Tufts University and his MBA from Duke University’s Fuqua School of Business.