Pejman Mar Ventures creates new competition for UC Berkeley entrepreneurs

Venture capital firm Pejman Mar Ventures has created a new competition for UC Berkeley entrepreneurs who demonstrate passion and dedication to making their vision a reality. They are offering $250,000 to back up a startup founded by a Berkeley student, faculty member or alum in exchange for 10 percent of the company. In the past 18 months they have funded 7 companies in which the founders were from Stanford, MIT and Carnegie Mellon. Applicants have until Oct. 1 to apply and a winner will be chosen by Oct. 30.