A landmark $5-million institutional venture fund launched at Western University will invest directly in early stage companies founded by entrepreneurs in the campus community.
In a first for the university, the Western Propel Fund will offer up to six investments of $150,000 per year for five years to startup businesses with at least one founder who is a Western student, faculty or staff member or graduate.
“The fund signals to the entrepreneurial community, here at Western and beyond, that we are serious about our entrepreneurs’ success,” said Eric Morse, executive director of Western’s Morrissette Institute for Entrepreneurship, powered by Ivey.
Western and Ivey Business School are each committing $2 million to the Propel Fund, while Morrissette Entrepreneurship will contribute another $1 million. Together, their investments will power the fund through 2030.
The Propel Fund is designed to fill a specific gap – companies far enough along to show promise but too small to attract institutional venture capital. To be eligible, companies must have raised less than $1 million in total capital.
Eric Morse, executive director of Morrissette Institute for Entrepreneurship, says the new Western Propel Fund demonstrates the university’s commitment to helping founders grow and succeed. (Brandon MacIntosh/Ivey Communications)
“We see the Propel Fund as a way to help Western-founded ventures bridge that investment gap,” Morse said. “The fund is just one part of Morrissette’s ongoing support for founders through every stage of their business journey.”
Western Propel Fund includes student experiential learning
Founders can apply to the Propel Fund through Morrissette’s twice-yearly Angels’ Demo Day. Each cycle, six to eight companies make their pitch before a live audience of investors, mentors and alumni. After pitching, each company will be assigned to a team of student volunteers who will conduct formal due diligence under guidance from the Propel leadership team and external subject-matter experts.
Their findings will be reviewed by an investment committee, which will make the final decision about which companies to fund. Up to three founders from each Demo Day will receive funding, giving Western equity in each company.
Propel leadership will track the companies’ milestones, revenue and jobs created through quarterly check-ins. The program also trains student volunteers in the skills needed to conduct due diligence. While many are business students, other volunteers come from faculties across campus.
Zachary Kanemy
Zachary Kanemy, a fourth-year student in management and organizational studies who’s volunteering on the due diligence team, says it provides meaningful exposure to venture capital in a real-world setting, while allowing students to contribute fresh perspectives during the review.
“A large part of the process is stress-testing assumptions, evaluating markets, determining a company’s potential to scale up and understanding founder dynamics,” he said.
Volunteers did that due diligence on the first round of applicants this summer – seven startups that pitched their businesses at Demo Day on June 3.
“What stands out is how much emphasis is placed on the team itself, especially at the seed stage where products and financial models can still evolve significantly,” Kanemy said.
Recipients will be supported through Morrissette’s full suite of programming, including mentorship, makerspaces, workshops and alumni connections. Morse said the university ecosystem gives the fund an edge a standalone investor couldn’t easily replicate.
“We are able to put additional resources into the ventures that come through our programming, including access to industry and startup expertise from our large network of alumni mentors and experts,” he said.
Western supports entrepreneurs at every stage
Entrepreneurship is a priority for Western, with about 20 student clubs and nearly 30 courses across campus adding to Morrissette’s formal programming.
Across the university, entrepreneurs are supported through every stage of their journeys, from idea to real-world impact. Students and researchers from all faculties can learn the basics of entrepreneurship before developing their ideas through various programs, courses, mentors, workshops and competitions.
As ideas grow, entrepreneurs can opt in to commercialization support through Innovation and Strategic Partnerships at Western Research, including the Technology Transfer Office that collaborates with inventors and industry partners.
The Western Accelerator is a critical component of the cross-campus entrepreneurship ecosystem, offering an immersive, full-time opportunity to advance high-potential ventures run by students, faculty, staff and recent alumni. Since its inception in 2017, more than 150 companies have passed through the program, including success stories such as Marlow, TerraOptima, Apricotton and Tenomix.
PitchBook included Western among the top 50 schools for undergraduate and MBA entrepreneurship for the second year in 2026, ranking the university 36th globally for undergraduate entrepreneurs who have raised venture capital over the last decade, ahead of prestigious institutions like Cambridge and Oxford.
Since 2018, more than $6.5 billion has been raised by Western entrepreneurs. With the Propel Fund, Western will now play a direct role, investing in promising early stage companies financially, in addition to the support provided through entrepreneurial programming and expertise.
“Western produces some exceptional entrepreneurial quality, both the entrepreneurs themselves and the companies they start,” Morse said. “This is just the beginning of more ambitious possibilities.”
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