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UVA Venture Summit

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In order for a business to get off the ground, it needs money. Thursday investors sitting on about $20-billion listened as entrepreneurs made their pitch. It's a part of the third annual Venture Summit at the University of Virginia.

Organizers say the summit is all about showing off the university's potential for innovation.

Mark Crowell, university administrator and executive director for innovation, partnership and commercialization said, "We want to be a go-to place for the venture capitalists to come and learn about emerging trends, emerging opportunities for new business investment areas."

The companies looking for money were all founded by UVA alumnus, students, faculty or staff. The university says nearly all of the companies that pitched at the two previous summits eventually found funding.

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