Grant Programs for Student Entrepreneurs:
Description of Grants (Winter 2012)

Overview | Description of Grants | Winter 2012 Schedule | History | TechArb

Mayleben Family Venture Shaping Grant
These grants are geared toward students with an idea that they believe holds commercial promise. By completing the deliverables, the team will be able to succinctly describe a business construct of a venture that can be tested for feasibility. With a complete business construct, teams are encouraged to apply for a Dare to Dream Assessment grant which will guide teams through an evaluation of potential feasibility.

Application
The two-page application asks for concise descriptions of the opportunity or problem you wish to address, the proposed product/service, potential users and the uniqueness of the idea. Please download the instructions to ensure you complete a more effective application. Students should convert the application to a .pdf and submit it with resumes (for all team members) as a single .pdf document to dare2dream@umich.edu by 8 a.m. on January 27, 2012 with the subject line of “<companyname> Shaping ”.

Deliverable
Once an application is approved, the student will receive up to $500 in exchange for completing at least one iteration of the venture shaping process. The process will help to generate a business construct that states what the final product should be, who the customers are, and where the venture fits within the value system. This deliverable can then be used the following semester to apply for a Dare to Dream Assessment grant.

The intermediate deliverable for the venture shaping exercise is due by 8 a.m. on March 23, 2012. The final business construct is due by 8 a.m. on April 26, 2012.

Dare to Dream Assessment Grant
These grants are geared toward students with a proposed business. The proposed business should sell a unique product or service with a clear market need. The purpose of this grant is to establish the feasibility of the business in order to gauge whether or not to invest resources and commit to launching the venture. Once this is established, an Integration grant encourages the creation of a full business plan.

Application
A three-page business construct must be written that answers the who, what, why and how questions on the application. Students should convert the application to a .pdf and submit it with their resume(s) as a single .pdf document to dare2dream@umich.edu by 8 a.m. on January 27, 2012 with the subject line of "<companyname> Assessment".

Deliverable
Once an application is approved, the student will receive up to $1,500 in exchange for writing a feasibility study. This will evaluate the market, the financial concerns of the industry, and specific team issues. Students will attend a training session on how to complete an effective feasibility study. This deliverable can then be used the following semester to apply for an Integration grant.

The intermediate deliverable for the feasibility study is due by 8 a.m. on March 23, 2012. The final feasibility study is due by 8 a.m. on April 26, 2012.

Dare to Dream Integration Grant
Only teams that have a complete feasibility study that concludes the proposed business is viable and is committed to launching the venture should apply for this grant. The Integration Grant pushes the team to create a business plan and investor pitch with the ultimate goal of actually launching the business.

Application
Students are strongly encouraged to apply for the Assessment grant before the Integration grant in order to write an effective feasibility study to submit. If teams wish to bypass the Assessment grant, they must still write a complete feasibility study outlined in the application. Students should convert this application to a .pdf and submit it with their resume(s) as a single .pdf document to dare2dream@umich.edu by 8 a.m. on January 27, 2012 with the subject line of "<companyname> Integration".

Deliverable
In order to receive the grant, the team must intend to launch the company. Once awarded, the team will attend training, write a complete 20-page business plan and construct an investor pitch. The awards, up to $10,000, are paid half upon award announcement and half upon acceptance of the final deliverables. Payments are made only to the company and therefore must establish itself legally before payments can be made.

The intermediate deliverable for the business plan is due by 8 a.m. April 26, 2012. The final business plan is due by 8 a.m. on August 1, 2012. Student teams are eligible to receive an Integration grant only if at least one team member is still an active student at the time the final deliverable is due (students may not apply in their final semester).