Eligibility Criteria

• Applicants must be students either currently enrolled in or recently graduated from the University of Michigan. ("Recently graduated" refers to students who graduated in the previous academic term. For example, a student who graduates in the Winter Term can apply for a Jump Start Grant through the following Spring/Summer Term; a student who graduates in the Fall Term can apply through the following Winter Term; etc.)
• Applicants mustbe in good academic standing (GPA of at least 2.0 for undergraduate students, or 5.0 for graduate students) in a U of M degree-granting program
• Applicants must intend to use the funds to advance an entrepreneurial endeavor or acquire entrepreneurial skills, knowledge, and experience.

Note: The CFE is primarily interested in supporting impact driven ideas – disruptive ideas that are scalable and meet a societal need. Please keep in mind that the CFE will not support companies that it deems contrary to its organizational culture, interests, and goals. This may include companies whose mission is to manufacture or sell sex as a product; gambling as a product; illegal drugs or drugs other than registered pharmaceuticals or their associated paraphernalia; weapons; alcoholic beverages; and tobacco products.

Application Process

As part of the application process, you must submit a detailed budget proposal, information about funding you have received or requested from other institutions, and a brief letter of support on behalf of your team, idea, and funding request from a faculty reference. You can provide your recommender with a Faculty Reference Form as a guideline.

Application Deadlines

Applications will not be considered for retroactive funding, and therefore must be submitted prior to student expenditure. Applications will be accepted on a rolling basis, and reviewed according to the schedule on the website.

CFE Jump Start Grants Application Cycle AY11-12

	Application Submission Deadline:	Review Date:	Notification Deadline:
Travel, Legal Services, Prototype
1st Grant Cycle	October 2, 2011	October 6, 2011	November 1, 2011
2nd Grant Cycle	November 27, 2011	December 1, 2011	January 1, 2012
3rd Grant Cycle	January 10, 2012	February 2, 2012	March 1, 2012
4th Grant Cycle	March 10, 2012	April 5, 2012	May 1, 2012
5th Grant Cycle	May 10, 2012	June 7, 2012	July 1, 2012
6th Grant Cycle	July 10, 2012	August 2, 2012	Sept 1, 2012
SPARK Boot Camp
Fall Session	N/A
Spring Session	January 29, 2012

 

Notification

Applicants will be notified of the status of their application by e-mail according to the schedule on the website. You can also check the status of your application by clicking on the “Check Status” button above. Please do not contact the CFE regarding the status of an application.

Awards Disbursement

Funds will be distributed to individual students. The amount allocated to each student is determined by the student team, as specified on the grant application. The total award amount will be disbursed in two installments: awardees will receive 75% following approval of their application, and 25% following receipt of their final deliverable.

Awardees can expect payment to be processed within three weeks from the date of notification. Funds are disbursed either by check or direct deposit, depending on how the applicant's account is set up in the University of Michigan system.

Final Deliverable: For all grant types, awardees are required to submit a 1-2 page report that explains how the funds were used, what was learned or gained as a result of the funds, and what the next steps are for the student entrepreneur(s) and/or the entrepreneurial endeavor. For Travel, SPARK Boot Camp, and Legal Services grants, the report is due no later than three months from disbursement of the first payment. For Prototype grants, the report is due no later than six months from disbursement of the first payment.

Note: An individual student may receive no more than $1,000 in Jump Start Grants per fiscal year (July 1-June 30). This award may have tax implications. Please contact your tax advisor with any questions. This award may also affect need-based aid in your financial aid package. These instances are handled individually and you will be contacted directly if it appears you may be affected.

Grant Type Descriptions

The CFE currently offers four types of Jump Start Grants):

1. Travel
2. Legal services
3. Prototype development
4. SPARK boot camp

CFE Travel Grant: For students invited to participate in an entrepreneurship conference through a competitive selection process or to attend the award ceremony for a competition for which they were named semi-finalist or finalist; or for students who need to travel to a remote location to conduct customer discovery or market research.

The award structure is as follows:

a. Up to $250 for the continental US
b. Up to $500 for all other destinations

Note: A maximum of five team members may apply for funds to travel to the same location at the same time. When purchasing an airline ticket, students should give preference to domestic common carriers, and should book a seat in economy/coach class.

CFE Legal Services Grant: For students seeking legal counsel related to starting a business (e.g. incorporation, filing a patent, freedom to operate, etc.) For this grant, CFE contributions typically match the expenditure of the company or student entrepreneur. Note: International student entrepreneurs with questions regarding their visa status as it relates to launching a startup venture should visit the International Center for assistance.

CFE Prototype Development Grant: For students building a model of their entrepreneurial product.
Award amount: variable, based on the nature of the prototype and the needs of the student company, but not to exceed $1,500. One grant per company.

CFE SPARK Boot Camp: Each semester, Ann Arbor SPARK sponsors a two-day intensive boot camp for aspiring entrepreneurs. Participants in the boot camp learn tools to identify markets, refine business strategy, locate consumers, and improve business concepts. The CFE is committed to sponsoring two student company teams (two students per team) each semester. The enrollment fee for the SPARK Boot Camp is $1,000 per team. The CFE will contribute $800; the student company team is expected to contribute the remaining $200. Funds may not be used for expenses other than the Boot Camp enrollment fee. Additional information about the SPARK Boot Camp can be found on the SPARK website: http://www.annarborusa.org/