I keep seeing that he donated US$1M, but he is "donating" it to a seed fund. Does this mean he will be taking a piece from each of the funded projects, or is he actually donating 100% of the money and expecting no returns?
My reading of the Velocity article suggests that Ted donated his million to the University "to expand support for student entrepreneurs".
The University, in turn, has established a million dollar seed fund to support student ventures. So while it is probably basically the same million dollars, the University is acting as an intermediary and has control over the fund in some fashion or another.
