E-Team Program Frequently Asked Questions

 

 

Please see the guidelines page for complete information.

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QUESTIONS ARE ORGANIZED BY THE CATEGORIES BELOW. CLICK ON THE CATEGORY TO JUMP TO THAT SECTION.

Program eligibility
Working with your institution
Applying
Use of grant funds
Most common mistakes
For newly funded grantees

 

 

Program eligibility

How do we know if our project is a fit for the E-Team Program?
If your project/product is a technology innovation that will benefit people or the planet and your intention is to get it to the market, you’re a fit! Competitive proposals demonstrate the following:

  • Your team is solving a big problem (or addressing a big opportunity)
  • Your product has a positive impact on society
  • What your team is doing is scalable

Still not sure? Contact us.

What types of projects/products does VentureWell fund?
Some examples include medical or healthcare-related devices; products to aid in poverty alleviation or address basic human needs; and clean/green technologies. We mostly fund physical or engineered products, but have funded software or mobile products that fulfill the other criteria.

We are currently students but one or both of us are graduating—can we still apply?
We require at least two active and enrolled students on the team for the duration of the grant (Stage 1 = 6-8 months; Stage 2 = 18 months). If you are graduating but plan to continue with the project you will need to recruit additional students to your team.

Can international teams apply to the E-Team Program?
VentureWell awards grants to US-based colleges and universities only, but we do fund US-based teams serving international markets and US-based teams with international student members.

I’m an independent inventor. Can I apply to the E-Team Program?
VentureWell grants are awarded to colleges and universities, not directly to individuals and/or ventures. If you are a student with an innovation, you need a team, consisting of other students, a Principal Investigator, advisors, mentors, etc., in order to qualify for the E-Team Program. Individuals do not qualify.

There are many resources for independent inventors. Here are a few:

Can my team still apply if we didn’t invent the product and/or don’t own the IP?
Yes, teams working on technologies invented by faculty (or other students) may apply for the program if the intent of the university is to further develop the product for commercialization AND if the current student team members are playing meaningful roles in the process.

I’m a faculty member with an innovation. If I recruit some students to help me would it make me eligible for the E-Team Program?
Yes, so long as the recruited students are playing meaningful roles and are driving development. Students should serve as the entrepreneurial leaders of a team, regardless of the origin of the idea or invention. Please refer to the “minimum requirements for eligible teams” section of the guidelines for more information.

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Working with your institution

How do I know if my college/university is a VentureWell member?
Check the list here or call and inquire.

How can my college/university become a member of VentureWell?
Membership is annual and applies to your entire university or college. Any School or Department can pay. Dues are $549 for colleges and $999 for universities. More information can be found here.

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Applying

What are the minimum requirements to apply?
You need to have:

  • A student-led team of at least two active and enrolled students at a VentureWell-member college or university who are committed to development/commercialization of the technology
  • A technology innovation that benefits society (people or the environment)
  • A Principal Investigator who supports and oversees the project
  • Support of your university (Administrative Contact, most often in the Office of Sponsored Programs) and department (Chair)

How are teams selected for the program?
Each year, VentureWell funds approximately 50 Stage 1 teams and 20 Stage 2 teams. E-Team Program proposals are reviewed by VentureWell staff and external experts in technology, venture development, commercialization, and entrepreneurship. A review panel may consist of university faculty and staff, individuals from industry, non- profit/NGOs or government organizations, venture capital and/or angel investors, and/or serial entrepreneurs.

How do I apply?
We accept applications via our web portal only. You will need to have or create a VentureWell account in order to submit. Create an account or sign in here. You may start, save, stop and return to your online proposal at any time before submitting.

When do I apply?
There are three E-Team Program cycles per year: one in the fall (October deadline); one in the winter (January/February deadline), and one in the spring (May deadline). You must submit your proposal by 11:59 PM ET on the day of the grant deadline in order to be considered. Typically VentureWell opens the call for applications about 6-8 weeks before the deadline. Teams can begin writing their proposal narrative at any time. Refer to the Stage 1 program guidelines for details on proposal narrative.

I’ve applied to the program. When will I hear whether I’ve been accepted?
All teams will be notified of their status via email within 60 days of the deadline date. Notifications will be sent to the Principal Investigator, Administrative Contact, and student team leader. If you are accepted into the program, your notification email will include programmatic details and a link to register for the workshop (please be aware of these dates when you apply).

What do I need to submit?
The application consists of the following parts (see Guidelines>Required and Optional Components for complete details):

  • 5-page narrative
  • At least one letter of support (up to 3 may be submitted)
  • Team member resumes (up to 4, 3-pages each, maximum)
  • Online verification of support from your PI, an Administrative Contact (most often from the Office of Sponsored Programs) and your Department Chair
  • Optional appendices, including additional document and weblinks

Is the E-Team proposal considered a public disclosure?
Although your proposal is not accessible to anyone other than reviewers and VentureWell staff, we recommend that before submitting you take appropriate steps to protect your intellectual property. If you have not done so, please do your best to summarize what is unique about your technology and the data you have to prove that. Read and understand your university’s intellectual property policy before submitting an application.

How much detail to you want about my technology? Do I need to tell you our “secret sauce”?
You should include as much detail as you feel comfortable disclosing. Reviewers want data that shows the feasibility of your technology, but you should not disclose anything that might jeopardize your IP protection. When describing your innovation, think about what makes it unique compared to other solutions to the problem you’re solving.

What’s the difference between the Stage 1 and Stage 2 applications?

  • Stage 1 and Stage 2 proposals are reviewed using the same main criteria, but commercialization potential, scalability and the proposed work plan are weighted a bit more heavily for Stage 2 proposals.
  • Teams applying for Stage 2 of the program are instructed to revisit and strengthen their original Stage 1 application package. The Stage 2 guidelines provide more details.
  • Teams applying to Stage 2 will also be required to submit a budget that describes how the team intends to use the $20,000 award.

I’ve been working on my venture for a while—can I apply directly to Stage 2?
No, all teams enter the program at the Stage 1 level.

What is Stage 3 and how do I apply?
Stage 3 of the E-Team Program helps teams create a venture development plan to prepare for relationships with investors and strategic partners. Two sector-specific programs are offered each year and application is by invitation only. The program includes a matching investment opportunity of up to $50K for a select 2-3 Stage 3 teams per year. For more information please contact an E-Team Program staff member.

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Use of funds

Can the grant funding be awarded directly to my team?
No, VentureWell grant funding is awarded to your college or university. Grant funds are administered by an institution’s office of sponsored programs or an equivalent entity. Every institution works a bit differently, so we strongly encourage you to identify an administrative point of contact early, and work with that person to learn about your university’s internal processes and procedures. If you are accepted into the E –Team Program, you and your team will be working with your administrative point of contact on reimbursement for expenses/access to the grant funding.

If my team is funded, how can we use the grant funds?
A portion of the grant funds is intended to cover expenses related to your team’s participation in the required program workshops. Stage 1 does not require a budget in advance. Any remaining funds after the required Stage 1 workshop expenses are covered can be used to further develop your product.

The Stage 2 guidelines outline how Stage 2 grant funds can be used. A proposed budget is a required part of the Stage 2 application. Check the Stage-2-ET-Proposed-Budget-2015-16_revised for additional information.

VentureWell does not allow overhead to be taken from grants funds. We strongly recommend that teams consult with their office of sponsored programs (or equivalent) to learn their institution’s rules about overhead before submitting an application.

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Most common mistakes

What is the most common mistake E-Team Program applicants make?
The most common mistake applicants make is underestimating the time it takes to navigate their institution’s administrative structure. Many university offices of sponsored programs (or equivalent) require a completed proposal for administrative review and approval before it can be submitted. Teams are strongly encouraged to review the proposal guidelines AND the application steps well in advance of the deadline and to contact your office of sponsored programs (or equivalent) to review your university’s requirements.

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For newly funded grantees

If my team applies and is accepted, what are my responsibilities?
If your team is accepted into Stage 1 of the program two student team members (the student team leader plus one additional team member) will be required to attend The Stage 1 three-day workshop. Check the calendar graphic for the upcoming workshop dates. At the end of the grant period your Principal Investigator will be prompted to complete a final report describing the status of the project, milestones, impact and how the funds were used. Student team members are expected to contribute to report.

Can my Principal Investigator attend the workshop?
Under some circumstances we allow the Principal Investigator to participate in the workshop. Please contact an E-Team staff member to discuss.

Can I bring a guest to the workshop?
No, we do not allow guests or observers; only registered team members may attend.

Is there a fee to attend the E-Team workshops?
There is no registration fee for the required E-Team Program workshops. Teams are responsible for the costs associated with travel during the three days (transportation, hotel, meals, etc.). Additional details about workshop logistics will be shared with your team when you register. These funds can come out of your E-Team grant.

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Still can’t find the answer you’re looking for? Contact us.

Please see the guidelines page for complete information.

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