Resource:How to create a student venture fund
Contents
Introduction
Student venture funds act as an internal investment for students. The main objective for is to monetarily support entrepreneurial ideas in order to expand student opportunities, but also help with training and mentorship. Student venture funds typically invest in student entrepreneurs and in return take a small share of the profits. These organizations can be created by just students or students and faculty.
Needs and Goal
First, as a student, you must find out if this is a need on your campus. To assess the need for a student venture fund, you need to find out how many students on campus are interested in launching new ventures. If students are interested and agree that a student venture fund is an organization they can benefit from, it will be easier for you to proceed with the university faculty and administration.
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 businesses has allowed places like the University of Notre Dame to raise 3.5 million in funds.
Leadership
Assuming you are the founder or co-founder, embarking on a mission to gather your team can be complicated. You need to find other students (or faculty) who are interested, dedicated, team players. Student venture funds can take up a lot of time for the members. Some student venture funds put in 30-hour work weeks.
Launch
Launching your club can look different for different universities. Some student venture funds promote every week or month by setting up booths or handing out fliers. This allows them to continually show their presence on campus.
Lessons Learned and Tips for Others
- Since this is a student-led venture, it is important to be a respectful peer. As with any organization, 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 arise. You will earn respect from your peers and team if they are confident in your leadership abilities.
For more information, view these universities with student venture funds:
