Monday December 2, 2013 0 commentsBOULDER - CU-Boulder students invested $30K in startup Elihuu through CU's Deming Center Venture Fund (DCVF) launched by a donor in 1997 and a program of the university's Leeds School of Business.
Denver-based Elihuu is an online software platform that connects designers with manufacturers who can make their products.
Selected from across campus to be part of the fund, the students manage everything from scouting new companies to vetting business plans, negotiating terms of agreements, making final decisions on investments and supporting investees with ongoing recourses and advice.
"I think it's brilliant and that they're doing all the right things," said Dorian Ferlauto, Elihuu's founder and CEO. "I really didn't know that there is a university fund like this run by students. It's very unique and I think it's a great thing in this area where there are a lot of startups."
The $30,000 investment will go toward development and expansion of the Elihuu tool, which Ferlauto says is similar to a matchmaking website except it's for designers and manufacturers working to line up with the right business partners.
While investee companies benefit from seed money from the DCVF, the student directors gain professional experience and unique insights that could give them an advantage as they pursue their own ventures, CU said.