February 26, 2014

L&C’s 2014 Incubator & Launch Fund

Previously known as “The Venture Competition”.

Do you and a team of fellow students or recent alumni have an idea for an innovative nonprofit, social venture, or for-profit enterprise?  If so, or if you know of any students or recent alumni who do, please read this message carefully.

Lewis & Clark’s Center for Entrepreneurship serves as a hub of innovation and collaboration for our entire community. This year we are transforming the Venture Competition into the Lewis & Clark Incubator+Launch Fund in order to emphasize the process of conceiving and learning how to develop and launch entrepreneurial ventures. The Incubator+Launch Fund will provide ongoing support to the entrepreneurial ambitions of students and recent alumni from all three schools of the College.

Incubator+Launch Fund Overview:

Each semester, teams of students and recent alumni will be invited to apply for selection by the Incubator+Launch Fund.  All applicants will have the opportunity to benefit from the Fund’s structured learning experiences and mentoring opportunities.  Those teams accepted into the Fund will have further opportunities including initial financial support throughout the academic year. Periodically, incubator teams that are ready to launch their efforts on a larger scale will be invited to pitch their ventures to a panel of experts with the opportunity to secure more significant investments of up to $10,000 to $20,000 from the Fund.

Based on the Application to Participate (see guidelines below), four to six teams will be selected this semester to develop their ventures with the support of Fund. These teams will be offered mentoring and learning experiences, and they will have the opportunity to apply for up to $2,000 to reimburse third-party expenses associated with kick-starting their venture.

Please note that the Incubator+Launch Fund is designed to emphasize learning, development, and collaboration. Thus, Fund staff, mentors, judges, and other participants will not be asked to sign non-disclosure agreements. If teams desire to protect intellectual property, it is their responsibility to do so, understanding that any information with individuals associated with the Fund may be publicly disclosed. 

Application Guidelines:

Teams of students from any of the College’s three schools and recent alumni from the Classes of 2012 & 2013 are invited to submit an initial “Application to Participate” by Monday, March 10th. All entrepreneurial ventures are welcome, including nonprofit and for-profit enterprises, and both idea-stage proposals and proposals to advance existing early-stage ventures are eligible. An information session and chance to network with potential teammates will be held in early March.  To get information about this event, and to register, please send an email to entrepreneurship@lclark.edu with the subject line, “I+L Fund March Information Session).

Applications to Participate must adhere to the following guidelines in order to ensure full consideration: 

(1) Teams must consist of three or more individuals, and at least 50% of a team’s membership must be Lewis & Clark students from the College of Arts and Sciences, Law School, and Graduate School of Education & Counseling or recent alumni of these schools from the Classes of 2012 & 2013.

(2) Teams must commit to participating in the Incubator+Launch Fund’s mentoring program and learning experiences to the extent that their schedules allow. These activities will commence in early April.

(3) The Application to Participate consists of two parts: a proposal summary explaining the team’s proposed venture and the value it will deliver if successful. (The summary should be double spaced and have 800 words max.).  Additionally a one-page maximum bio-sketch for each team member must be provided.

(4) The proposal summary should be an interesting and concise description of the proposed service or product, and should include clear and persuasive information to the following questions:

  • What is the value created or problem solved by the proposed venture?
  • Who are the target users or beneficiaries of the venture, and how will they benefit from the proposed service or product to them?
  • What is the size of the target market or need, and how is this market or need currently served?
  • What advantages does the proposed service or product have over existing services or products?
  • What is the likely funding you will need to begin the venture?
  • Who is your team, and what strengths do you each bring to the venture?
  • What is your venture’s current status and specific goals over the next 2, 6, and 12 months?
  • What do you see as the major challenges for your team in reaching these goals?

(5) Each team member’s biosketch should begin with a one-paragraph description of his or her interests, relevant experiences and skills, and likely contributions to the proposed venture (approximately one-third of a page), followed by an abbreviated resume listing any relevant experience (approximately two-thirds of a page). Biosketches should include the person’s affiliation with Lewis & Clark College, contact information, major/field of study, and evidence of academic standing including GPA. Biosketches must not exceed the one-page limit.

(6) The Application to Participate must be combined into a single PDF-formatted document and submitted by email to entrepreneurship@lclark.edu no later than 12:00pm Thursday, March 20th. Teams selected for the first group of cohorts for the 2014 Incubator+Launch Fund will be notified immediately after Spring Break on Monday, March 31st.

Questions about the Lewis & Clark’s Incubator+Launch Fund should be directed to the Center for Entrepreneurship’s Directors, Michael Kaplan and Brian Detweiler-Bedell, at entrepreneurship@lclark.edu.