Oregon Nanoscience and Microtechnologies Institute

ONAMI is a research commercialization engine, not a fund. It deploys state and federal grant money into Oregon university labs to fund proof-of-concept work in nanoscience and microtechnology. Successful projects are spun out into companies that then seek traditional venture capital. ONAMI does not make equity investments directly.

Deal flow originates inside ONAMI's partner universities — the University of Oregon, Oregon State University, and Portland State University. Faculty researchers apply for ONAMI gap funding, and the institute selects projects based on commercial potential in advanced materials, energy storage, and semiconductor applications. The model inherently favors deep-tech, patent-protected science.

Notable ONAMI graduates include Inpria, which developed metal oxide photoresists for extreme ultraviolet lithography and was acquired by JSR Corporation in 2021. Other spinouts include Valliscor, specializing in chemical synthesis services, and Voxtel, which developed advanced photodetectors before its acquisition by Tech5.

ONAMI is not a state agency. It was established as Oregon's first Signature Research Center in 2004 under a public-private consortium model. It receives state funding alongside federal grants and industry partnerships but operates with autonomy from direct state management.

ONAMI does not co-invest as an institutional LP. Its model places it upstream of venture capital, funding research that is too early for traditional VCs. When ONAMI-affiliated companies raise equity rounds, the investors are conventional venture firms — ONAMI's role is to have made the science investable.