Taking your venture to new heights!
What is the SPU Launch Fund?
The SPU Launch Fund is a pool of money designed to help aspiring SPU entrepreneurs realize their dreams and launch their ventures. Small grants are provided for specific purposes related to the development, growth, or implementation of a new venture.
Who is eligible to apply for SPU Launch funds?
Any current SPU students or recent SPU graduates (commenced within the past 12 months) who have an idea for a new venture, or are in the early stages of launching a new venture, may apply for a grant.
For what can the funds be used?
Recipients must use grant funds for an activity related to the following: developing, starting or growing their business, social or non-profit venture. Examples might include funding the development of a prototype product, hiring professional legal services for incorporation, paying for market research, entry fees for relevant workshops, etc.
How much may be requested?
For 2020-21, grants will be offered in increments of $250, up to a maximum of $2000.
How do I apply for funds and when are applications due?
Eligible applicants interested in obtaining SPU Launch Fund grants must submit a short narrative (750-1500 words) describing their venture, the people behind it (e.g. founders, funders, advisory board, etc.), the amount of money requested, and the anticipated use of the funds. Send proposals to the Center for Applied Learning (cal@spu.edu) either as PDF files or Word documents. We are currently accepting proposals for the 2020-21 academic year. We will continue to accept and review proposals until the entire pool has been allocated.
How will proposals be evaluated?
Proposals will be reviewed by a committee comprised of faculty and staff members from the School of Business, Government, and Economics (SBGE) at SPU and will be evaluated based on (a) the quality of the business model, (b) the clarity of the proposal, (c) the feasibility of the proposed activity, and (d) the likelihood that the overall venture which the proposal supports can succeed.
What is the process and timeline?
Once a grant proposal has been reviewed and approved, the recipient will be asked to sign a short contract, agreeing to the terms of the grant. Grant recipients will be assigned an SBGE faculty or staff mentor with whom they will check in periodically as their grant funded activity moves forward. After the funded activity has been completed, the recipient will submit a brief report (750-1500 words) back to SPU on how the funds were used, what the outcomes were and whether or not this has increased the likelihood of their venture moving forward and succeeding. Reports will be due no later than 12 months from the release of the grant funds.
Where does the money come from?
We are grateful to the Herbert B. Jones Foundation for funding these awards and supporting entrepreneurial education at SPU.
Question not answered here? Please contact the Center for Applied Learning at cal@spu.edu!