Entrepreneurship@Johnson
BR Ventures
BR Ventures (BRV) is the only university venture capital fund managed entirely by students. Its pool of investment capital currently comes from donations to the university. BRV infuses venture capital into promising startup companies generated through Cornell-based research and other regional opportunities. Investments typically serve as seed stage capital. Returns on investments in these ventures in turn grow BRV's pool of seed funding, while also contributing to the Johnson School's endowment.
Collectively, BRV student fund managers, who receive credit for running BRV, have an integrated, cross-functional skill set - from finance and accounting to science and engineering - that enable them to help startup companies realize their commercial potential. They execute every step of the venture capital process:
- Searching for and selecting investment opportunities
- Performing due diligence
- Negotiating term sheets
- Making investment decisions
- Guiding transactions through closing
BRV managers also work closely with BR Incubator (BRI), a separate but complementary entity that provides consulting services to emerging growth companies.
BRV student fund managers are guided by Fund Advisors, a prestigious group of professionals with a depth of experience in venture capital, law, finance, and operations, as well as Johnson School faculty advisors. A select group of firms comprise BRV's Venture Fund Partners, which provides BRV's portfolio companies with access to capital up the food chain.
Companies in which BRV has invested include:
- e2e Materials, LLC is a 'clean technology' start-up company in Ithaca, New York that produces petroleum-free, biodegradable composites that are stronger, lighter, and cheaper than composites filling landfills today. Their fully biodegradable materials are made from annually renewable resources including soy proteins and natural fibers such as bamboo, jute, flax and kenaf. BRV participated in the initial round of funding in September, 2007.
- SightSpeed offers high-quality, real-time desktop videoconferencing machines. Using a dramatic human perception-based approach to video developed at Cornell, SightSpeed's easy-to-use software enables natural visual communications using standard computers and Internet connections .The company's three founders - now CEO, CTO and Research Consultant, are a Johnson School MBA, a Cornell Engineering graduate, and a distinguished member of the Cornell Engineering faculty. BRV participated in the initial round of funding in November 2002, and subsequently in the $4.5 million follow-on round led by the Roda Group.
- Gene Network Sciences (GNS) is a biotech company headquartered in Ithaca, New York. Founded in 2000, GNS creates data-driven models and simulations that fundamentally change drug discovery and development. Leading its multi-disciplinary approach are scientists from the fields of molecular biology, computer science, mathematics, genetics, chemical engineering and physics. BRV invested in GNS in November 2001.
- Medical Care Corporation (MCC) develops and markets knowledge-ware that enables effective identification and treatment of Alzheimer's disease and related disorders (ADRD). Its Dementia Care System is delivered online to the point of care and is currently used by physicians, universities, imaging clinics, and researchers across the nation. BRV invested in MCC in June 2004.
The BRV sponsors the Business Idea Competition, which attracts more than 100 entries annually from across the country. The competition is designed to foster entrepreneurship and to reward top ideas. Practicing venture capitalists serve as judges, and award first, second and third place prizes of $10,000, $2500, and $1000. The first prize winner also receives up to 20 hours of free legal service through BR Legal. Unlike many other competitions, BIC participants are required to submit only a two-page description of the business idea, not a full business plan.
