VIC Foundry A foundry is a workshop where metal is cast. Valuable raw materials are shaped into useful objects that can provide more value in use. The VIC Foundry is the gestation stage of our Innovation Ecosystem — our opportunity pipeline development stage. The VIC Foundry was formed to do co-development work with leading researchers in universities across the world. The work is focused on exceptionally promising technologies that are not yet far enough developed to be ready for private equity investment, but that could provide the initial intellectual property foundation for future VIC portfolio companies. VIC’s scientific and engineering team work with the university faculty on the co-development, while VIC’s business team helps guide the work toward the most promising and impactful commercial opportunities. Most often, the co-development work is funded through government grants such as SBIR and STTR. Following a successful co-development project, a new company is formed, the technology is exclusively licensed into the new company, and an initial private equity investment is made by the VIC Investor Network.