A huge San Fran venture capital firm wants to fund UT students

There has been a large trend of college student startups. Companies like Modcloth, Facebook and Reddit were started by college students and have now reached massive success.

Now a venture capital firm, Binary Capital, is creating a program called The Council (TC) in the hopes of helping student startups at UT by providing them with capital to kickstart their goals.

Binary Capital is a king among venture capital giants in the Silicon Valley having invested in Snapchat when it had 120,000 users, Instagram when it had 220,000, and Tinder when it had about 12,000 users.

While TC would not make as big of an investment as its’ parent firm, it would make pretty sizable investments and would provide students would provide students with permanent access to a venture capital firm.

It would work like the TV show Shark Tank where entrepreneurs pitch their business plan to a partner at the firm and hope for investment. Also like the show, students would have access to a panel of advisers to help with business decisions and outreach.

When compared to universities such as Stanford and Berkeley, UT’s startup scene is still far behind. This is in part due to those university’s close proximity to Silicon Valley, having TC would brings the presence of a huge SF venture capital firm on campus and providing students with direct access to Silicon Valley investors.

As a catalyst for creativity, TC hopes to increase the number of student startups in the UT area and foster a sense of entrepreneurship.

Got any ideas for a startup?  Email [email protected] for more information