A very different type of firm to those typically SBIR funded, the entity that is VIC Foundry is one component of what is described as the "VIC innovation ecosystem" that includes VIC Technology Venture Development, VIC Investor Network, VIC Venture Fund, and various associated programs such as the VIC Fellows and VIN Partners. VIC Foundry develops technologies that have a potential substantial impact and commercial promise but have too many unknowns to be able to acquire private equity investment initially. Instead of private equity, VIC Foundry further develops promising technologies by accessing grant funding such as SBIR and STTR. After a technology advances enough to warrant private equity investment, a new company is formed, an initial executive team is placed by VIC, and the VIC Investor Network places a founding investment up to $500,000 into the newly formed company.
