Innovation Partner Programme (IPP) Grant

About this grant

The Innovation Partner Programme (IPP) is an initiative by Rhapsody Venture Partners, a specialist venture capital firm that invests exclusively in hard science startups addressing industrial problems. Rhapsody serves as a co-creator and lead seed investor for emerging technology companies in physics, chemistry, and applied sciences, with applications spanning agriculture, manufacturing, electronics, and more. Each year, Rhapsody screens approximately 2,000 startups and invests in a select few, taking first checks of typically $500K to $2MM and frequently leading larger syndicates in follow-on rounds. Beyond capital, Rhapsody's team—composed of entrepreneurs and business development executives—embeds itself within portfolio companies, taking on business development and marketing roles to generate initial customers and partnerships. A central belief of the firm is that hard science startups benefit greatly from early partnerships with industry strategics that ensure market fit, create non-dilutive financing options, and accelerate time to market. The IPP connects industrial companies interested in early-stage scientific innovation with hard science startups in Rhapsody's ecosystem. It also provides a pathway for Tech Transfer Officers at universities to introduce scientific founders to industrial companies keen to explore innovations entering their markets. For professors and students beginning their entrepreneurial journey, Rhapsody facilitates introductions to industrial companies with capacity and capital to collaborate. Rhapsody's due diligence process is described as collaborative: if a technology is ready to be demonstrated, the firm takes founders to potential customers and partners to jointly substantiate the market opportunity. The programme is aimed at fostering an open innovation ecosystem where both startups and industrial strategics can engage in low-risk, high-reward collaborations.

Eligibility

The programme is open to hard science startups—particularly those originating from university research in physics, chemistry, and applied sciences—that are addressing industrial problems. Founders from academic institutions (professors and students) embarking on entrepreneurial journeys are specifically welcomed. Tech Transfer Officers with hard science startups in their portfolios are also invited to participate. Industrial companies interested in early-stage scientific innovation can engage as Innovation Partners. There is no explicit geographic restriction stated, though the portfolio suggests a primary focus on North American and UK-based ventures. Rhapsody positions itself as a lead investor for seed rounds, suggesting applicants should be at or near a seed funding stage.

How it's scored

Rhapsody's evaluation process is described as a collaborative due diligence exercise. If a technology is deemed ready for demonstration, Rhapsody takes founders to potential customers and partners to jointly substantiate the market opportunity. The firm focuses on hard sciences (physics, chemistry, applied sciences) addressing industrial problems, suggesting technical readiness and industrial applicability are central criteria. The firm screens approximately 2,000 startups per year and makes a small number of investments, implying highly selective judgment. No formal scoring criteria, weightings, or panel composition details are disclosed.

Key requirements

• ✓Hard-science or deep-tech startup originating from university lab or research institution
• ✓Willingness to engage in open innovation partnerships with industrial strategic partners
• ✓Portfolio company status or eligibility for Rhapsody Venture Partners portfolio

Recent past awardees

Knowing who's won the last rounds tells you whether you're in the strike zone.

• Chinova · 2018
• HyperDamping
• Adden Energy
• Biophilica (Treekind) · 2022
• Fluid Efficiency · 2017
• Holiferm
• Sensatek
• ChEmpower

Frequently asked questions

How much funding does Rhapsody Venture Partners offer?

Innovation Partner Programme (IPP) offers $500K – $2M.

Who can apply for Innovation Partner Programme (IPP)?

Eligibility covers organisations in GLOBAL; startup, university. See the eligibility criteria above for the full conditions.