Details & Application

GENERAL INFORMATION

• N.XT solicitations occur annually during the spring quarter.
• The size of N.XT investments are based on proposed milestones, up to $150K.
• Technical development milestones are prioritized for N.XT funding.
• Deals will be structured in the form of a SAFE note (no valuation cap; discount only).
• N.XT funds cannot be applied toward Northwestern employee salaries.

N.XT ELIGIBILITY

• Intellectual Property must be owned by Northwestern.
• Venture (e.g. corporation or LLC) must be created.
• Active option or License Agreement with Northwestern must be in place at the time of application and for the duration of the award. 
  
• Company must not have secured more than $1M in equity funding (including friends & family, angels, and venture capital)

N.XT EVALUATION

Under the oversight of INVO, the N.XT Investment Committee (consisting of investors and external industry experts) will assist with all aspects of diligence considering:

• Are the milestones well-defined and can they be realistically completed within one year given the proposed investment amount?
• What is the product/technology potential given the market size, accessibility, opportunity, business model, and value proposition?
• Is the team qualified with the ability to attract proper management and future funding?
• Is the proposed commercialization plan achievable after N.XT milestones are reached?

EXPECTATIONS FOR AWARDEES

• Agree to N.XT Terms and Conditions.
• Execute milestones over 1 year term.
• Record and share progress with updates with INVO/The Q, as requested.