“Shark Tank” type Rady Venture Fund gives a leg up to San Diego SMEs
In a report published on PRWeb, the Rady Venture Fund is said to be the real-life version of popular television show "Shark Tank" minus the catchy background music, dramatic pauses and celebrity venture capitalists. "Shark Tank" had billionaire investor Marc Cuban as one of its panel members.
A part of the Rady School of Management, the Rady Venture Fund has already aided more than 60 innovative small businesses in the area of San Diego, California to start. The management school itself has marked its tenth year in educating students who aspire to be successful entrepreneurs, business managers and venture capitalists, the report read.
Rady School of Management Deans Advisory Board member Harry Rady said, "I am proud to be associated with such an innovative school that supports the entrepreneurs and business leaders of tomorrow. I applaud the faculty for its growth in these past ten years and celebrate them for ten successful years in education." The press release said the Rady family was critical to the growth of the management school, thanks to a generous donation.
According to the report, the Fund is a unique learning opportunity for students at the Rady School of Management to train their business acumen in making decisions on which businesses or products should receive venture capital, which is very similar to "Shark Tank." Each year, the Fund is said to award $150,000 in two businesses. The profits of the two businesses, in return, is given back to the Fund to support the entrepreneurial programs of the Rady School, and at the same time, added investment capital for future small businesses. Because of the Fund and the various entrepreneurial programs of the management school, over a hundred new products were generated.
Moreover, the hands-on experience gained by students in the Rady Venture Fund will provide a unique education complementary to the students' courses in their management school's courses, the report said. Recently, business students, together with the Fund and Tech Coast Angels, participated in a Series B financing round for Savara Pharmaceuticals, which raised $16 million for the startup.