Indiana University's IURTC has become IU Ventures with a purview dedicated to administering the Philanthropic Venture Fund, angel network and entrepreneurial support services.

Indiana University Research and Technology Corporation, the university’s innovation support arm, rebranded as IU Ventures yesterday to emphasise its role in providing programming catered to its innovation and entrepreneurship ecosystem.

The revamp follows the creation of IU’s Philanthropic Venture Fund, Angel Network and The Quarry, which have taken responsibility for endowment investments, connections with business angels and entrepreneurial support respectively.

IU Ventures will connect all three programs with stakeholders such as investors, faculty and entrepreneurs, in order to help commercialise concepts with market potential.

The unit’s scope has been tightened up since the reallocation of its tech transfer remit to the university’s Office of the Vice-President for Research in June 2017.

Harry Gonso, a member of the university’s board of trustees in addition to the board at IU Ventures, said: “There are a lot of people out there who, like me, have a deep love for Indiana University. We are offering an opportunity to contribute in a way that is different from simply writing a cheque.

“Individuals can help young people, help businesses and see that their involvement has a direct impact.”