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Innovator Fellowship

Experiential learning opportunity with a venture capital group

The Innovator Fellowship is a unique opportunity to develop your entrepreneurial skills by immersing with one of IIFH’s food-and-health investment partners. Identify and evaluate startups related to your area of expertise, learn how to understand the commercial applications for your research, understand the landscape of the market, and build your network. The program provides winning Innovator Fellows funding for stipend, tuition, travel, professional development, research expenses and more, up to $50k.

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Working with venture capital partners offers:

  • Real world professional skills across investment, technology, research and commercialization
  • Mentorship by professional business leaders
  • Insights into how to launch a successful technology or company
  • Practical, real-world professional experience
  • Understand how to de-risk research for commercialization
  • Access to key network of industry and investment partners
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A unique partnership

Through a unique partnership between academia and business, IIFH joins with host venture capital groups to support UC Davis late-stage PhD STUDENTS (last ~2 years) and POST-DOCTORAL FELLOWS in developing hands-on entrepreneurial experience in food, agriculture and metabolic health innovation. Host venture capital groups are mission-aligned with IIFH and help the Institute bridge the gap between the basic research creating new insights, and the development of technology, tools and companies which translate these insights into products and services used by people every day to live happier, healthier, longer lives.

6-Month Program

Timeline: January through June 2025

  • 3 months part-time, remote followed by
  • 3 months full immersion with venture capital firm

Application Deadline: September 29th

Support:

  • PhDs: full support of existing 50% GSR appointment
  • Postdocs: 75% of salary covered
  • Support for professional development, travel, accommodation if working onsite, conferences, and limited research expenses

Info Session: September 16th, 12-1 pm, Zoom – Watch Recording Here

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Innovator Fellowship | Cohort 18 | Better Ventures + Supply Change Capital + AgFunder

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Opportunity 1

Better Ventures is an early-stage venture capital firm that backs founders on a mission to build a better world. We partner with startups leveraging emerging technologies and breakthrough science to create a sustainable, healthy, and inclusive economy where both people and the planet thrive.

We are active in investment themes that map to the UN Sustainable Development Goals including food/ag tech, synthetic biology, circular economy, electrification, personalized health, longevity, education, and the future of work. Big challenges represent big opportunities.

Better Ventures is committed to backing underrepresented founders, and we have set public goals to build investment portfolios with 50%/10%/10% representation of women, Black, and Latinx founders.

Candidates with coursework / experience related to one or more of the following areas (or similar) are strongly desired: synthetic biology, agriculture technology, alternative protein, microbial science, microbiome, genomics, bioinformatics, longevity, personalized health, machine learning, and generative AI.

Location: Remote or Oakland

Supply change capital logo

Opportunity 2

Supply Change Capital is an early-stage venture capital firm investing in healthier and regenerative food & ag systems for people and the planet. We seek to drive financial outcomes as well as positive impact across the environment, health, and diversity.

Since 2021, we’ve been investing across the following sectors:

  • Environment: Solutions for environmental adaptation and mitigation (waste, water, soil)

  • Health: Modern conveniences in service of healthy habits

  • Novel Ingredients: Tech-driven solutions that support health, offer competitively advantaged IP, and price parity at scale

  • Value Chain: Data and platforms for a more efficient supply chain

We drive value for our portfolio companies through our proprietary SuperCharge III program, our operations know-how, our network of Fortune 500 strategics, and through teaming on impact goals and KPIs.

Innovator Fellows work on evaluating venture investable opportunities around their area of expertise, performing technical diligence on deals in the firm’s pipeline, and producing thought leadership content. Fellows also gain exposure to early-stage venture capital firm operations by being deeply embedded with the leadership team.

Candidates should be eager to learn how to evaluate companies through a venture lens, enjoy a fast-paced startup culture, be experts in performing research and synthesizing data, and be interested in one of our four investment areas.

Candidates with coursework or experience related to one or more of the following areas (or similar) are strongly desired: food science and technology, preservation or fermentation technologies, food waste, waste streams, food systems engineering, chemical or biological engineering of food, microbiology, or related topics.

Location: Chicago or Los Angeles

Opportunity 3

AgFunder, founded in 2013 and based in Silicon Valley, is a leading venture capital firm with a mission to solve some of the world’s most pressing challenges. We focus on deeptech and deep science startups that are pioneering innovations that can profoundly impact food, agriculture (F&A), and planetary and human health. Our investment scope spans cutting-edge fields such as AI, robotics, drones, biotech, materials science, photonics, and therapeutics.

What makes us different? We have grown 10x in the last 3 years – to $300M AUM – and our approach is grounded in the belief that transformative solutions to global F&A challenges often originate beyond traditional sector boundaries. The best way to drive innovation in food and agriculture isn’t necessarily through those industries directly, but through the frontier technologies that enable breakthroughs across multiple verticals. By investing in these platforms early, we enhance our potential for higher returns and accelerate their positive impact on the F&A sector.

At AgFunder, you won’t just source and diligence innovations—you’ll help shape the future of entire industries. Join us on this journey.

Strongly preferred candidates will have coursework or experience in fields such as the deep-tech and deep-science space that impact agriculture, food, health (human and planetary), nature in general and biology. We look at life sciences, biology, energy, chemistry, robotics, AI driven solutions. Experience or interest in finance and evaluation is a plus.

Location: Remote or San Francisco

Details

Expectations & Deliverables

  • Enthusiastic engagement with venture capital host
  • 1-quarter Enrollment in Graduate School of Management’s MBA Food & Ag Immersion seminar
  • Completion of UC Entrepreneur Academy
  • Completion of a blog post and photos
  • Participation in book club and gatherings
  • Kickoff and final meeting presentations

Eligibility

Applicants from UC Davis only:

  • PhD students  who have passed Qualifying Exam
  • Post doctoral scholars
  • Technical fields preferred

Candidates from all fields welcome to apply, but most successful candidates come from technical fields that align with needs of VCs, listed above.

Candidates must have support from PI approving the applicant’s engagement.

Selection Criteria

Looking for candidates with:

  • Interest in using innovation to solve food, ag or health challenges
  • Interest in entrepreneurship and advancing innovative research or business concepts
  • Professional drive to bring their scientific expertise to the business sector and help shape the future of the food and health industry
  • Skill sets and knowledge of relevance to recruiting venture capital firms (see descriptions above)

Application Requirements

Please apply to one or both venture capital groups by providing the following documentation:

  1. Resume or CV (PDF)
  2. Letter of interest detailing current PhD research, why the program is of interest to you, and how your career goals align, and relevant experience (max. 2 pages, PDF)
  3. Letter of support from PI approving the applicant’s graduation. (max. 1 page each, PDF)
  4. Optional: Letter of recommendation from someone other than PI, speaking to complementary strengths

Please combine items 1-4 above (in the order they are listed) into one single PDF for submission. Further information can be found on the submission form.

Please note you must be signed into your UC Davis or Google account to apply. Problems? Contact [email protected].

Make sure you are signed into your ucdavis.edu email address; Google account must be signed in for link to work.

Innovator Fellowship FAQs

Venture capital firms provide funding to startups and early-stage companies with novel ideas or innovations. Their money often comes from private investors, and a VC firm invests in these startups in hopes the company succeeds and makes a profit, thus earning them (and their investors) a return on their money.

Fellows may perform a variety of duties or projects while engaging and learning at a VC firm. A common element is learning to perform due diligence– fellows use their technical expertise to assess startups for promising technologies, and learn what to look for when assessing whether an early-stage initiative is likely to succeed. Fellows may help with deal flow, market analysis, and any variety of initiatives for the VCs.

No. In general, we try and time recruitments so they roughly align with academic quarters, but it is not critical. We are very flexible, and find that the most important aspect to synch up on is that the fellow joins the VC host during a time when the fellow will have maximum exposure to due diligence process and hopefully participate in the full spectrum of the deal-making process.

For the six-month program, during the first three months of your fellowship, you will be completing this remotely and part-time, allowing you to continue your research at a reduced commitment (50%). During the final three months, you are expected to put your research on hold due to the intensive commitment to the venture capital firm.

If there are aspects of your research (live animals, bacteria, etc.) that cannot be put “on hold” we will work with you and your PI to see if we can design a schedule that allows you to maximize learnings and time with the VC while not jeopardizing your research in any way.

Yes! Please! We encourage you to apply to any open opportunities, and if you are not selected, we encourage you to re-apply to the next round. Every VC is looking for something slightly different in a fellow. Successful applications are a match-making process between candidates and VCs.

Experience with business or innovation is NOT required, however, it may make an applicant a more competitive candidate. We hope that fellows have demonstrated an interest in entrepreneurship by participating in any of the many innovation activities and entrepreneurial opportunities on the UCD campus. For fellows with less experience, we will connect you with campus opportunities during your 6 months with us.

You do not need to be in a STEM field to apply. We encourage candidates with a demonstrated interest in entrepreneurship and/or potentially translatable research from any field to apply; however the venture capital firms we partner fellows with generally focus on food, climate, agriculture and similar fields that tend to favor the technical sciences.

Graduate students pursuing their PhD in their final ~2 years of study who have completed their qualifying exams, and postdoctoral scholars at UC Davis will be considered. Undergraduates, MS/MA students and PhD students pre-candidacy are currently not eligible for this fellowship.

It is not required that your research is transferable, but if it is, this fellowship can help you move that translation process forward. Ideal candidates will have both a demonstrated interest in entrepreneurship and potentially translatable research.

The common denominator that all VCs primarily look for is technical expertise in candidates. Beyond technical expertise, each VC may have slightly different criteria. We encourage applicants to apply to both VCs each round and to re-apply in the future if they are not selected. 

IIFH will cover your expenses for up to $50K in funding for six months. This includes salary, tuition and fees, travel, professional development (eg. conferences) and research expenses. If the residency is onsite with the firm outside of Davis, IIFH will also cover the cost of your temporary accommodation (usually an apartment rental) so that you do not need to pay double rent in Davis and the new location for those three months. In total, IIFH will offer up to $50K per opportunity.

Every fellow will be asked to complete different projects and work depending on the venture capital firm they are paired with and their strengths. This is up to 50% of time for the first three months and 100% of time for the second three.

Students must also attend a kickoff meeting with their PI, their VC representative, and IIFH’s director and coordinator. At the completion of their six months they must also present a 5-10 slide presentation on learnings and future direction to this same audience, as well as complete a final written report.

Participating fellows are expected to attend IIFH events that happen during the duration of their fellowship, and are encouraged to attend any additional professional development and social activities that are shared during their program dates.

IIFH works with your department to ensure a smooth funding transition. For PhD students you must have an active GSR account set up with your current department through which we can remit your salary. In general, students continue to be compensated at the rate they had been prior to the fellowship. It will look as it had in prior quarters, only now IIFH will be footing the bill.

Yes, we have hosted fellows who are two simultaneous fellowships as long as the requirements of each do not conflict. Please get in touch with us to discuss the details as each case can vary. For example, many fellowship programs offered by the Institute for Innovation and Entrepreneurship require attendance at MBA classes, which cannot be completed if you are physically in another city for your IIFH commitment.

The fellowship encourages (and in some cases requires) the completion of the UC Davis Graduate School of Management Food & Ag Immersion Seminars.

Apart from these specific exceptions, no. Students generally cannot participate in coursework during the fellowship—however, if there is a specific non-negotiable around this, we will work with fellows to explore solutions.

Yes! Our network of fellows and VCs is always growing. We host networking events among our fellows, with outside partners, and within the UCD network.

The University of California and our host VCs sign an NDA (non-disclosure agreement) when we initially enter into a partnership agreement. As a student of the university, you, the interviewee, would be covered under that same NDA.

Fellowship Questions

Our team is here to help! Feel free to send any questions regarding the Innovator Fellowship to [email protected].

IIFH Involvement