Ventures that were selected for and participated in the 2016 i.Lab Summer Accelerator program are invited to apply for a Startup Grant. This grant would provide selected recipients with $5000 of support for your venture, made available in June of 2017. Grant recipients will also be provided with dedicated workspace (at the iLab or in Charlottesville), mentoring, and a set of summer workshops.
The deadline for applications for this Startup Grant program is February 6, 2017 at 11:59PM EST.
The application process for this grant program has three ingredients:
- Your responses to the questions found below, which are submitted through an online application, available here.
- A one-page Executive Summary of your venture. You will upload this Executive Summary as part of the online application. Examples of and/or insights into startup executive summaries can be found here, here, here, and here.
- An in-person interview with members of the advisory committee for the Startup Grant program. Date TBD.
Additional requirements for the grant program would include:
- Commitment to meet with and advise, on a regular basis, at least one of the ventures participating in the upcoming, 2017 i.Lab Summer Accelerator;
- Full-time participation in and regular attendance at the workshops and other events provided for grant recipients (as distinct from those workshops/events specifically for Accelerator participants);
- Being a positive and contributing member of and resource to the i.Lab community.
Please be prepared to answer the following questions as part of the online application. Your answers to these questions, alongside the content of your Executive Summary, will be taken into account by advisory committee members.
Action & Traction
What key milestones did you set out to accomplish after the completion of the 2016 Summer Accelerator Program? Why?
Which of these milestones have you accomplished and which have you been unable to accomplish?
What evidence have you seen to confirm that real demand exists for the product/service that is being developed by your venture? Please use data to support your answer (e.g., number of new customer signups or sales over time, web traffic, or other sources). Please attach any files that provide evidence of this traction.
Dollars & Sense
Through what means do you hope to earn revenue (e.g. direct sales, subscriptions, donations, grants, or other)?
Who or what have been the sources of revenue pursued by your venture (e.g., individual customers, corporate customers, grant makers, etc)?
What revenue have you earned (if any) from these sources, and how has that revenue changed over time? Please use data to support this answer (e.g., sales over time). Please attach any files that provide supporting evidence.
Through what other sources have you been able to fund the venture (e.g., competitions)? And, how much funding have these provided?
How often have you found yourself reaching out to and connecting with your associated mentor, or new mentors, since the 2016 Summer Accelerator program concluded in August?
How have you found yourself working with, helping out, and/or simply connecting with ventures from the 2016 Summer Accelerator since the program concluded in August?