View source for Resource:Obtaining Start-up Money Through VentureWell: Kent State University

= Obtaining Start-up Money Through VentureWell: Kent State University =

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== Introduction ==

VentureWell E-Team program is a great place for students who are apart of the VentureWell community to obtain funding for their start-up.&nbsp; 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.

== Mission ==

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

== E-Teams ==

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”&nbsp;

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

== Stages of Funding ==

=== Stage 1 ===

VentureWell picks 50 E-Teams for this round.&nbsp; 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.

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=== Stage 2 ===

After moving on from stage 1, you then move to Stage 2 of funding.&nbsp; In this stage, teams will attend a Stage 2 workshop.&nbsp; 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.&nbsp; Students will need to send at least 2 members of the team for venture coaching.&nbsp;

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=== Stage 3 ===

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

== Making Sure Your Proposal Fits the Criteria ==

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

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

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

-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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.&nbsp; There are two more opportunities to submit your proposal this year…

Winter Deadline: January 27, 2016

Spring Deadline: May 4, 2016 S

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&nbsp;Written by, [[Brad Baumeister|Brad Baumeister]]

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