Personal tools

Obtaining Start-up Money Through VentureWell: Kent State University

From University Innovation

Jump to: navigation, search


Obtaining Start-up Money Through VentureWell: Kent State University



VentureWell E-Team program is a great place for students who are apart of the VentureWell community to obtain funding for their start-up.  Venture well has pretty broad guidelines when deciding what types of E-Teamss to fund, as long as it is in the technology field, you will be able to apply.


“VentureWell’s purpose is to create opportunities that help innovators advance early-stage ideas that will benefit society.”


VentureWell defines an E-Team as a “multidisciplinary group of students, faculty, and industry mentors working together to bring a technology-based invention (product or service) to market” 

The amount of members of your E-Team is up to you, the innovator.  But they ask to keep the teams to no more than 6 because the “To many cooks in the kitchen” saying comes into affect. 

Stages of Funding

Stage 1

VentureWell picks 50 E-Teams for this round.  In this stage, initial research needs to be submitted justifying your concept along with a value proposition relating to your start-up. $5,000 dollars will be rewarded during this round of funding along with a Stage 1 workshop.


Stage 2

After moving on from stage 1, you then move to Stage 2 of funding.  In this stage, teams will attend a Stage 2 workshop.  They will also receive $20,000 in grant funding. They will also refine your business plan and concept along with providing venture coaching for your E-Team.  Students will need to send at least 2 members of the team for venture coaching. 


Stage 3

Based on how far along your start-up is, teams will be accepted for Stage 3 of funding.  In this stage teams will receive training on sector specific partnerships and investment readiness training.  Only 10 teams will be picked for Stage 3.

Making Sure Your Proposal Fits the Criteria


-       Your innovative idea needs to be tech related and prove feasibility

-       You need to provide a business model and show commercial potential

-       Your E-Team needs to be diverse and show different levels of expertise in a wide range of areas.  It is also recommended to have a staff advisor from your school give his/her support during the initial stages of your start-up.

-       Your start-up needs to prove it can make a positive impact on the environment or have a positive impact on society.

Dates to Know

Deadlines for Stage 1 occur three times a year.  There are two more opportunities to submit your proposal this year…

Winter Deadline: January 27, 2016

Spring Deadline: May 4, 2016 S


 Written by, Brad Baumeister