University of Haifa sparks student-run venture fund

University of Haifa has launched a student-run seed fund of undisclosed size in alliance with Israel-based VC unit Fresh.Fund, the Jerusalem Post reported on Sunday.
The vehicle, dubbed HIL Fund, will reportedly invest in companies founded by University of Haifa faculty, students and graduates. The university will participate through its subsidiary Haifa Innovation Labs.
Founded in 2016, Fresh.Fund typically makes pre-seed investments ranging up to $200,000, having backed 11 startups during 2019. In addition to overseeing HIL Fund, Fresh.Fund will launch a VC course for Haifa students, with a selection joining HIL Fund’s steering committee.
In order to establish initial deal flow, a pitch contest was recently held for University of Haifa-affiliated startups. The winning concepts included a digital mental health platform, a bee disease imaging system and virtual reality-based education on the Holocaust.
HIL Fund comes in the wake of Ben-Gurion University of the Negev raising a $1m student-run fund in January 2019, again in partnership with Fresh.Fund.
Gustavo Mesch, rector of University of Haifa, said: “The true mission of an academic institution is to give students the tools and means to develop innovative solutions and learn how to implement them.
“Our goal is to enable every student at Haifa University to understand and reach their potential.”