Nonprofit Renaissance Philanthropy of New York has announced a fund to invest in early-stage companies and develop local startup talent. The $7.5 million Northwest Arkansas Innovation Fund is aimed at a familiar gap in NWA’s startup scene: very early capital for founders who are not yet ready for traditional venture investment. Backed by the Walton Family Foundation, the Innovation Fund will start with Catalyze479, a revolving fund for Northwest Arkansas-based companies, and Launch479, a fellowship for founders and senior technical leaders.

Click here to read the full story on Axios.