TECHNOLOGY


up to $400,000 in seed funding and BioAccel matching up to $150,000. Furnace will offer high-potential startups at least $25,000 in seed funding, incubation space at one of the partners institutions and a mentor, as well as the chance to procure further investors at the end of the incu- bation period with zero equity given away. But Furnace aims to do more than support entre-


preneurship; it also serves as an investment in Arizona’s economy by nurturing business development. For both students and institutions alike, Furnace provides a unique accelerator to not only promote startups and technology transfer, but to help stimulate the economy. But don’t let Furnace merely become an example, says McConnell: “Every state should have a Furnace.”


Rachel Wiley is the Managing Editor at Today’s Campus. rAChEl@TODAYSCAMPUS.COM


NOV/DEC 2012 • TODAYSCAMPUS.COM


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