Difference between revisions of "Resource:How to create a student venture fund"

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Create a new club or organization<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Intro (short paragraph describing the club that was created)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Need and goal (what you did to assess the need and how this club would fill that need)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Academic permission (what kind of permission and proposals were needed)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Support (what types of support were necessary — faculty, student, leadership, alumni, community, etc)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Cost (what funding was necessary to create the club, and how that funding was found/raised)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Leadership (how you selected who would run the club)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Launch (how you promoted and launched the new club)<br/>&nbsp;&nbsp; &nbsp;•&nbsp;&nbsp; &nbsp;Lessons learned and tips for others (what worked and what didn’t, and your recommendations for others)
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<span style="font-size:larger;">Introduction</span>
  
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[[Category:Guides]]
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*Student venture funds can act like an internal investment for students. These clubs can help students with funding, training, or mentorship. One of the main objectives for student venture funds is to support entrepreneurial ideas, which will expand opportunities for students.
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&nbsp;
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*This organization will invest in other entrepreneurs and take a small share of the profits.
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&nbsp;
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*Student venture funds can be created by just students or students and faculty.
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&nbsp;
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<span style="font-size:larger;">Needs and Goals</span>
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*First you must find out if this is a need in your university. If people are interested in your idea and agree that this is a need for your university then it will be easier to proceed.&nbsp;
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<span style="font-size:larger;">Academic Permission</span>
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*This will look different for every school. Some will need permission from deans or boards.
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<span style="font-size:larger;">Support</span>
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*You will be able to build the support network as you go. Having involvement from students, leadership, alumni, and your community is beneficial for growth.
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<span style="font-size:larger;">Cost</span>
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*Places like [http://www.fsb.miamioh.edu/musvf/ Miami University]&nbsp;found their funding though a Proctor and Gamble grant and donations through Miami University. Some students raise their funds though internal fundraising. Outside funding by business has allowed places like the [http://www.insideindianabusiness.com/newsitem.asp?ID=58135 University of Notre Dame] to raise 3.5 million in funds.
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<span style="font-size:larger;">Leadership</span>
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*Assuming you are the founder or cofounder embarking on a mission to gather your team can be complicated. You need to find other students (or facility) who are interested, dedicated, team players. Student venture funds can take up a lot of time for the club members. Some STV put in 30-hour workweeks.
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<span style="font-size:larger;">Launch</span>
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*Launching your club can look different for different universities. Some SVF re-launch every week or month by setting up booths or handing out fliers. This allows them to continually show their presence on campus.
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&nbsp;
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<span style="font-size:larger;">Lessons Learned
&nbsp;&nbsp;</span>
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<span style="font-size:larger;">&nbsp;</span>
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*Since this is a “student lead” venture it is important to be a respectful peer. With any club you will be making relationships and having a humble attitude is a must. By relating to others you will have a greater chance at a successful organization.
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&nbsp;
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*Be overly prepared for meetings. By being prepared you will be able to answer any questions that may come up. You will earn respect from your peers and team if they are confident in your leadership abilities.
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&nbsp;
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<span style="font-size:larger;">Places with student venture funds</span>
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*[http://som.gmu.edu/globalbusiness/entrepreneurship/venture-fund/ George Mason University]
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*[http://rady.ucsd.edu/invest/give/venturefund/ RADY UC School of San Diego]
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*[http://www.uakron.edu/research/svf/ The University of Akron]
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*[http://www.crunchbase.com/financial-organization/simon-school-venture-capital-fund Simon School University of Rochester]

Revision as of 16:52, 14 October 2013

Introduction

  • Student venture funds can act like an internal investment for students. These clubs can help students with funding, training, or mentorship. One of the main objectives for student venture funds is to support entrepreneurial ideas, which will expand opportunities for students.

 

  • This organization will invest in other entrepreneurs and take a small share of the profits.

 

  • Student venture funds can be created by just students or students and faculty.

 

Needs and Goals

  • First you must find out if this is a need in your university. If people are interested in your idea and agree that this is a need for your university then it will be easier to proceed. 


Academic Permission

  • This will look different for every school. Some will need permission from deans or boards.


Support

  • You will be able to build the support network as you go. Having involvement from students, leadership, alumni, and your community is beneficial for growth.


Cost

  • Places like Miami University found their funding though a Proctor and Gamble grant and donations through Miami University. Some students raise their funds though internal fundraising. Outside funding by business has allowed places like the University of Notre Dame to raise 3.5 million in funds.


Leadership

  • Assuming you are the founder or cofounder embarking on a mission to gather your team can be complicated. You need to find other students (or facility) who are interested, dedicated, team players. Student venture funds can take up a lot of time for the club members. Some STV put in 30-hour workweeks.


Launch

  • Launching your club can look different for different universities. Some SVF re-launch every week or month by setting up booths or handing out fliers. This allows them to continually show their presence on campus.

 

Lessons Learned
  

 

  • Since this is a “student lead” venture it is important to be a respectful peer. With any club you will be making relationships and having a humble attitude is a must. By relating to others you will have a greater chance at a successful organization.

 

  • Be overly prepared for meetings. By being prepared you will be able to answer any questions that may come up. You will earn respect from your peers and team if they are confident in your leadership abilities.

 

Places with student venture funds

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