Roughdraft.VC Boosts Boston Student Tech Scene

December 29, 2012

By: Erin
Earlier this month, the Huffington Post ranked Boston as the smartest city in America, so it's no surprise that some of the most successful startups form here. And a large portion of these startups are founded by students. However, many students fail to raise the money it takes to support their ventures. So, a few brilliant students from Harvard, MIT, Boston University, Tufts and Babson launched Roughdraft.VC, a student-operated venture capital (VC) firm aimed at making small investments into Boston's student-lead products. Bilal Zuberi, principal at General Catalyst Partners, which is backing the project, told the Boston Business Journal, “Roughdraft.VC is probably the youngest venture capital firm in existence in terms of the ages of the people involved.”
The idea here is that Roughdraft.VC will support and invest a few hundred dollars to $15,000 in 15 to 20 student companies. According to a recent TechCrunch article, the Roughdraft.VC team will evaluate submissions and fund ideas based on the visions of the companies and dedication of the students involved. Right now the company is looking to invest in software and hardware startups.
In a recent Boston Business Journal article, Bilal Zuberi noted that Roughdraft.VC is not a deal flow engine for General Catalyst, but he does hope that the best of these startups will move into Y Combinator and TechStars. The overall goal for Roughdraft.VC is to keep the tech and startup talent alive and thriving in Boston.
How is your city supporting student startups or organizations?

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