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RIT's Venture Creations incubator is a place where mid-seed stage companies can advance their concepts on their way to joining the ranks of profitable, viable businesses in New York State. Venture Creations has been in operation since 2003 and creates an environment for RIT students, faculty, staff and alumni that enables them to develop solutions to problems of economic and commercial importance. Venture Creations occupies 27,000 square feet adjacent to the RIT campus. Incubator businesses have access to the building's amenities, which include shared conference rooms, copy and mail rooms, model building labs, kitchen and lounge area, electronic security, wireless internet and free parking. Venture Creations assists with the growth and success of their new enterprises to create value for stakeholders. The incubator works in conjunction with RIT Pre-Seed Fund to make funding opportunities available to incubator companies. The Incubator manages a seed fund that initially has $1 million, with hopes to grow the fund to $3 million. The fund makes investments of $25K up to $100K (per transaction) usually in combination with others (e.g. angels, venture firms, etc.). $150 million in capital has been raised for incubator companies.
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