The University of Michigan’s Center for Entrepreneurship (CFE) is proud to introduce an innovative program, Fuel, designed to provide comprehensive support for student ventures. Fuel fills a crucial gap in student project acceleration by focusing on both funding and coaching, ensuring that promising ideas receive the resources they need to thrive.
Through a careful examination of existing student venture accelerators at U-M and in-depth customer feedback, the CFE has identified the critical need for funding and coaching as the two fundamental elements missing in direct student project support. This Fall 2023, the CFE will take the first step in launching the funding portion of Fuel.
“This program demonstrates our commitment to empowering student ventures by offering them not only financial support and feedback, but attempting to meet them on their timeline,” notes Nick Moroz, Director of Entrepreneurial Practice.
Fuel targets student ventures and founders who are dedicated to commercialization, focusing on achievable goals of creating minimum viable products, securing funding, generating sales and revenue, and reaching specific milestones within a single semester. The program accommodates ventures at various stages of development, from those with paying customers and viable products to those with prototypes. Additionally, Fuel places special emphasis on ventures and founders engaging in tech-enabled entrepreneurship, using technology to address meaningful societal challenges.
How Fuel Works
Student applications will be reviewed on a monthly basis, following this general schedule:
1st Thursday Submitted student applications are reviewed
2nd Thursday Teams will receive written feedback from the Decision Committee
3rd Thursday Invited teams will give in-person pitch/demo presentation
4th Thursday Monetary awards are communicated, up to $25K
With the launch of Fuel, the University of Michigan’s Center for Entrepreneurship reinforces its commitment to fostering a culture of innovation and entrepreneurship among its student community. Whether you’re a visionary student entrepreneur seeking funding, mentorship, or comprehensive support, Fuel is poised to nurture your entrepreneurial aspirations.
For further information on Fuel, please visit the Fuel page on the CFE website.