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Resource:How to create a student prototyping fund

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= <ins>Obtaining the Proper Funding</ins> =

<div><span style="font-size: 16px; font-family: 'Times New Roman'; color: rgb(0, 0, 0); background-color: transparent; font-variant-ligatures: normal; font-variant-position: normal; font-variant-numeric: normal; font-variant-alternates: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">When in the search for funds, a great place to start would be on campus. Any type of center for entrepreneurship will have an open ear to new business ventures. They will also, most likely, have donors of their own so do not hesitate to ask for their resources. Branching out to local investors is also a great way to go as long as you are sure that you present an idea with a very strong foundation. Having a good foundation is the most important part of asking for funding.  Grants are also a very good way to go. Grants can be found locally after doing research. It is essential to make sure that the mission of the funding party matches that of the asking party. If it were to occur that the two missions did not match, it could result in conflict later down the line. This makes choosing the funders carefully, a very critical aspect.</div>

== <ins>Implement Your Student Prototyping Fund</ins> == Once all the initial startup work is complete, and adequate funding has been found, it is time to implement your Student Prototyping Fund.  Student groups will come to your organization in search of funding, and a great way to determine what groups would be good to fund is to set up an application process.  The results of this process should highlight potentially valuable groups, and following is a list of methods that can be useful in creating an application process. <ul style="margin-top:0pt;margin-bottom:0pt;"><li>Require applicants to have a documented mission statement.  It is best if their mission as an organization aligns with that of your organization.</li><li>Require applicants to have a faculty or community sponsor that will support them and give them advice throughout the startup of their organization.</li></ul> Once applicants have been chosen as beneficiaries to receive funding, it is key to support them in their ventures.  The Prototyping Fund should provide educational opportunities for its recipients in order to assist them in their initial work, such as pop-up classes, rapid prototyping, entrepreneurship design thinking, and the business canvas model.  Another great way to assist recipients is to host meetings for organizations to attend in order to discuss problems, roadblocks, successes, etc.<br/span>

Dan.musci

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