The stipend program, made possible by financial support from Qualcomm, focused on expanding access for underrepresented science and technology entrepreneurs.
Hadley, Massachusetts, January 24, 2025—VentureWell today released Making the Case for Student Innovator Stipend Support, which shares evaluation findings from the Qualcomm Innovator Stipend Program. The program, which ran in 2022 and 2023, awarded stipends totaling $101,000 to 29 student participants from low-income backgrounds.
Research shows that a lack of financial resources can be a major barrier for low-income student entrepreneurs. The stipends were designed to offset costs incurred from program participation.
Participants also received two months of mentorship by industry experts from Qualcomm to accelerate their venture development efforts and continued participation in the VentureWell E-Team Program.
The evaluation from the two-year pilot outlined in the report demonstrates promising increases among student innovators in several key areas, including the development of an entrepreneurial identity, confidence in pursuing entrepreneurship, persistence in developmental activities, and enhanced venture development.
“As we seek to empower underrepresented groups in the innovation and entrepreneurship field, removing financial barriers is crucial,” said VentureWell Vice President, Ventures, Christina Tamer. “We are tremendously grateful for Qualcomm’s generous support, which has allowed us to expand opportunities for dozens of talented early-stage entrepreneurs.”