StudentLaunchFund
LaunchNETKentState,2016
CoverPage
Students wishing to submit a request for funding through LaunchNET must first
complete this cover page and submit their Executive Summary, Feasibility Analysis
(Venture Advancement Grant), and requested support material. Please see the
StudentLaunchFundApplicationProcessformfordetails.
DateofApplication_______________________________
TypeandAmountofGrantRequest:_____VentureCreation$________(upto$500ea)
_____VentureAdvancement$________(upto$5,000ea)
_____e-Teams$________(upto$1,000ea)
Isthisyourfirstrequest?___________Amountawardedtodate$____________.
Multiplesubmissionsareencouraged.Approvalsarelimitedtoatotalof$5,000perventure
VentureName:___________________________________________________
ContactPerson:_______________________________Email:_____________________________________
PrimaryPhone:_____________________________Major:_____________________________________
StreetAddress:___________________________________________________
City:______________________State:__________________Zip:__________
OtherVenturePartners(includeseparatepageifneeded):
Name:___________________________________________Major:___________________________
Email:___________________________________________Phone:___________________________
Name:___________________________________________Major:___________________________
Email:___________________________________________Phone:___________________________
Name:___________________________________________Major:___________________________
Email:___________________________________________Phone:___________________________
VentureAdvisor:
Name:___________________________________________
Email:___________________________________________Phone:___________________________
PleasereturnthiscoversheetandallattachmentstoLaunchNETOffice
Deadlineforapplications:April1,2016
2016
StudentLaunchFund
LaunchNETKentState,2016
StudentLaunchFund:ApplicationProcess
TherearethreegrantsavailableforKentStateUniversityStudents:
v VentureCreationGrant
Thesegrantsaregearedtowardstudentswithanideathattheybelieveholds
commercialpromise.Theteamshouldbeabletosuccinctlydescribethebusiness
conceptandmodelofaventurethatcanbetestedforfeasibility.Thesefundsareoften
usedtoexplorefeasibility,seeklegalcounsel,orformtheirentity.
Application
InadditiontotheofficialCoverPage,student(s)willsubmitatwo-to-threepage
executivesummarythatincludes:descriptionoftheopportunityorproblemyou
wishtoaddress,theproposedproduct/service,potentialusers,howyouwill
monetizeit,theuniquenessoftheidea,andhowyouwillusethegrant.
Deliverable
Onceanapplicationisapproved,thestudentwillreceiveupto$500forprofessional
services(e.g.,website,legal,oraccountingfees),productdevelopment,or
completingthefeasibilityanalysisneededfortheVentureAdvancementGrant
application.Studentswillreportbackontheresultsasidentifiedinthegrant
agreement.
v FLASHCONNECTe-Teammini-grant
Thesegrantsaredesignedtoencouragetheconvergenceofmultidisciplinaryteamsand
facilitatetheircreation,whiletheteamformationprocesswillenablestudentsfrom
eachdisciplinetoshowcasetheirtalentsandideas.Teamsshouldbeatanyearlystage
withaSTEM-relatedventure/idea.FLASHCONNECTwillprovidestudentteamswith
$100to$1,000mini-grantsinordertopurchasestart-upservices,programmingand
prototypematerials.
Application
InadditiontotheofficialCoverPage,student(s)willsubmitatwo-to-threepage
executivesummarythatincludes:descriptionoftheopportunityorproblemyou
wishtoaddress,theproposedproduct/service,potentialusers,howyouwill
monetizeit,theuniquenessoftheidea,andhowyouwillusethegrant.
Deliverable
Onceanapplicationisapproved,thestudentwillreceiveupto$1000to
purchasestart-upservices,programming,and/orprototypematerials.Studentswill
reportbackontheresultsasidentifiedinthegrantagreement.Studentteamsmay
alsobeeligibletoapplyforVenturewell’se-teamgrant.
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StudentLaunchFund
LaunchNETKentState,2016
v VentureAdvancementGrant
Thesegrantsaregearedtowardstudentswithbasicstart-upneeds.Theywillsupport
bothhightechnologyandlowtechnology(service-oriented)businessesthatneedearly
stageassistancebeyondtheVentureCreationGrant.Onlyteamswhohaveacomplete
feasibilityanalysisthatconcludestheproposedbusinessisviableandarecommittedto
launchingtheventureshouldapplyforthisgrant.TheVentureAdvancementGrant
pushestheteamtotaketheideafromconcepttobusinessandpitchtoadditional
investors.Thegoalistoactuallylaunchthebusiness.
Application
StudentsarestronglyencouragedtoapplyfortheVentureCreationGrantbeforethe
VentureAdvancementGrantinordertocompleteaneffectivefeasibilityanalysisfor
submission.IfteamswishtobypasstheVentureCreationGrant,theymuststill
completethefullfeasibilityanalysis.
Deliverable
InordertoqualifyfortheGrant,theteammustintendtolaunchtheventure.Once
thegrantisawarded,theteamwillconstructaninvestorpitchandincludeatleast
oneLaunchNETstaffmemberontheirBoardofAdvisors.Theawards,upto$5,000
intotal,arepaidasfollows:halfuponawardannouncementandhalfasmilestones
aremet.Studentswillreportbackontheresultsquarterlyorasidentifiedinthe
grantagreement.
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StudentLaunchFund
LaunchNETKentState,2016
StudentLaunchFund:ApplicationQuestions
FortheVentureCreationGrantandFLASHCONNECTe-Teamsmini-grant,pleasecomplete1
and2belowandattachresumesforeachventurepartner.
1. CoverPage(providedbyLaunchNETinthisapplicationpacket)
2. ExecutiveSummary(maximumof3pages)
v Briefdescriptionofyourbusiness,includingabusinessconceptstatement
(answerstoquestions1-4below)
v Whatyouhaveaccomplishedtodate
v Goalsforyourbusinessandhowyouwillmeasurethem
v Amountyouareaskingforandhowitwillbeused
v Othersourcesoffunding,support,anddonations,etc.
v Listofsupportsourceswithintheuniversityandexternally
v Businessmodel(“Howwillyoumakemoney?”)
FortheVentureAdvancementGrant,pleasecomplete1and2above,aswellas3and
4below.
3. TheFeasibilityAnalysis(questions5-17below;maximumof8pages)
4. Resumesforallpartners
Customer/MarketFeasibility
1. Whatisyourproductorservicebeingoffered?Bespecific;giveadetaileddescription.
Giveyourproductorbusinessaname.
2. Whatisthevalueproposition?Willyourproductfulfillaneedorsolveaproblem?
Describethepain/problemandtheneedthatyouwillfulfill.
3. Whoisthecustomer?Willyoubesellingtoanintermediaryortotheenduser?
4. Howwillthecustomergetaccesstoyourproductorservice?Describetheproductor
servicevaluechain(distributionsystem).Whatmarketingtacticswillyouuse?What
areyougoingtochargeforit?Howmuchwillitcosttoproduceyourproductor
service?Doyouknowwhatthecompetitioncharges?Howwilltheentryofyour
productintothemarketeffecttheprice?
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StudentLaunchFund
LaunchNETKentState,2016
5. Whatarethedemographics,trends,and/orpatternsofchangeoftheindustry?
6. Arethereanybarrierstoentry?Ifso,whatarethey?Howwillyouovercomethem?
7. Whataretypicalprofitmarginsintheindustry?
8. Whoarethecompetitors?Who,What,Whereisyourcompetition?Doyouhaveaniche?Do
youhavesomekindofbusinessadvantageoveryourcompetitors?
9. Whoisyourperfectcustomer(bespecific)?Howwillyoufindthem?Whatisthedemandfor
yourproductorservice?Arethereenoughofthemtosupportyoursalesprojections?
10. Whatarethefeaturesandbenefitsoftheproductorservice?Whatvaluearethecustomers
receivingfromyourproductorservice?
11. Whataboutintellectualproperty?Patents,Trademarks,CopyrightsandTradeSecrets?Make
surethatnooneelsehasdevelopedasimilarproductoridea.Refertoyourresearch.
12. Howistheproductorservicedifferentiatedfromothersonthemarket?Whyisitdifferent,
andwhatmakesitspecial?
Resource/TeamFeasibility
13. Asstudents,whatspecificskillsorexpertisedoyouneedtostartthisbusiness?
14. Whatareyourteam’sgapsandhowwillyoufillthem?Describetheroleofmentors,advisors,
andstrategicpartnerships.
FinancialFeasibility
15. Whatareyourstart-upcapitalrequirements?Whatstart-upresourcesdoyouneed?Be
specific:givethedetailsofmachineryneeded,thematerialsneeded,systemsneeded,etc.
Whatistheplan?Howmuchinventorywillyouneedtocarry?
16. Whataretheamountsandsourcesofexpectedrevenues?Howwillyoumakemoney?Whatis
therevenuestream(s)?Makeapreliminaryestimateofthefirstthree(3)yearsincomeand
expenses.Explainassumptionsthatyouusetomakeyourrevenueandexpenseforecast.
17. Listanyotherinformationthatthereviewboardshouldknowforselectingyourventureas
fundable.
BusinessModelCanvas–attachacompletedcanvas,clarifyinganysignificantpivotsthat
youhavemadewithyourventure
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StudentLaunchFund
LaunchNETKentState,2016
StudentLaunchFund:FAQ
Q:Whoiseligible?
• Anycurrentlyenrolled,full-timestudentatKentStateUniversityiseligibleto
applyforagranttolaunchorenhancetheirventure.Theremustbeatleast
onefull-timeKSUstudentoneachventureteam.
• Certainrestrictionsmayapplyforstudentsthatarenon-UScitizensorifa
majorityoftheventureisnotownedbyfull-timeKSUstudents.
Q:Howmuchcanberequestedandwhatcanitbeusedfor?
• Weoffertwodifferentlevelsofgrants.Thefirst,VentureCreationGrant,isfor
eligiblestudentswhoareexploringanideaandneedasmallamountoffunds
topursueacompletefeasibilityanalysisorhavebasicstartupneeds(no
capitalorinventoryexpenses).Thesecond,VentureAdvancementGrant,is
foreligiblestudentswhohavealreadycompletedafeasibilityanalysisand
havegreaterfinancialneeds.
• Studentscanrequestupto$500fortheVentureAssessmentGrantandupto
$5,000totalfortheVentureAdvancementGrant.Fundscanbeusedforstartupcapitalandinventoryneedsaswellasotherstart-uporgrowthcosts.
Fundsmaynotbeusedtocreateanopenlineofcreditfortheventure.
• Proposalsforalltypeofenterprises,includingsmallorlarge-scale,highor
low-tech,e-commerceand/orbricksandmortar,profitandnot-for-profit,
willbeaccepted.
Q:Whatisrequiredintheapplication?
• Studentapplicantsneedtoincludeacompletedcoverpage,resumesforall
venturepartners,andexecutivesummary.ForaVentureAdvancementGrant,
acompletefeasibilityanalysis,includingtheirBusinessModelCanvas,must
alsobeincluded.
Q:WhatwilltheAdvisoryPanellookforintheapplications?
Preliminaryreviewwilllookforevidenceofthefollowingcriteria:
• Feasibilityoftheproposedventureanditsprospectsforsuccess
• Strengthsofthemanagementteam,commitmenttotheventure,andtheir
qualificationstomakeitsucceed
• Prospectsforraisingadditionalfundingasrequired
• Conceptualand/ortechnicaloriginalityand/orsocialvalue
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StudentLaunchFund
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Q:WhencanIapplyandhowlongwillthedecisiontake?
• Studentsmaysubmitproposalsatanytimeduringtheacademicyear.All
students,however,mustsubmitanapplicationnolaterthanthereview
periodbeforetheyexpecttograduate.Applicationswillbereviewedand
decisionsmadeuptofourtimesperyear.
• EachplanwillbegivenapreliminaryreviewbytheFund’sBoardofAdvisors.
Studentsareencouragedtotaketheopportunitytodiscussanddeveloptheir
proposalsinconsultationwithaVentureAdvisor,membersoftheFund’s
AdvisoryPanel,and/orothermentors.
• WhentheLaunchNETstaffand/orBoardofAdvisorsdecidethataparticular
proposaliscomplete,itwillbeformallyreviewedbyacommitteecomposed
ofmembersoftheFund’sBoardofAdvisorsforfinalreviewandfunding
decisions.Indecidingwhichplans,ifany,meritinvestments,theBoardof
Advisorsmayrequestadditionalinformationorpersonalinterviewswiththe
plans’authors.
• Fundingdecisionswillbeannounceduptofourtimesperyearasdescribed
onthecurrentyearapplicationpage.
• Pleasewatchyouremailforareceiptofyourapplication.Ifyoudonotseeit
withinthreedays,stopintheLaunchNETofficeorcall(330)672-6700.
Q:WherewillthefundscomefromandwillIneedtopaythisback?
• ThefundscomefromindependentdonorsthatcontributefundstotheKent
StateFoundationforthepurposesofhelpingstudentslaunch,run,andgrow
businesses.Grantedfundswillnotneedtobereturnedaslongasstudents
usethefundsforthepurposesapprovedinthegrant.Ifstudentsdonotuse
thefundsasapprovedorreporttotheBoardasrequested,thenthefunds
willneedtobereturnedtotheKentStateFoundation.
Q:Whatreportingwillbeexpected?
• Eachgrantawardwillincludeanagreementthatincludesusesforthefunds,
reportingrequirements,andtermsregardinguseoftheLaunchNETlogoand
publicstatementsregardingthefundingthroughthisprogram.
• Thereportingrequirementswillbeincludedaspartofthegrantaward.
Typicalreportingwillincludeproofofhowthefundswerespent,financial
statements,anarrativeongoalsandhowtheyweremetornot,overall
businessresults,andanyfutureneeds.
Q:WhatifIdonotfollowthroughonmybusinessorusethefundsasagreedtoin
thegrantapplicationandagreement?
• Ifyoudonotfollowthroughonthebusiness,usethefundsasagreedto,or
reportonyourresults,thenthefundsneedtobereturnedtotheKentState
Foundation.
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