FUNDING STUDENT VENTURES
Welcome to Fuel, a University of Michigan funding initiative that accelerates student-driven innovation by offering up to $25,000 in monthly financial awards. Unlike other programs, Fuel operates on a non-competitive, monthly cycle, guiding teams through the stages of Idea, Invention, Innovation, and Entrepreneurship.
Beyond funding, student teams receive expert feedback from a panel of entrepreneurs, who help refine projects at every stage. Even teams that don’t advance gain valuable insights to improve their ventures. Fuel equips students with the resources and guidance to turn their concepts into scalable businesses.
Apply now to join the CFE in driving innovation and positive societal impact.
Please scroll down and read FAQ before applying.
A. COUNTDOWN
Prepare to apply for Fuel by reviewing the application and budget templates. Don’t forget to check out the FAQ on the site.
B. IGNITION
Ready to apply for Fuel? Submit your online application for Fuel by the first Thursday of the month for consideration.
C. launch
Congratulations! Your team has advanced to the in-person presentations. Here’s what you need to know next.
Unsure about your startup stage and how much Fuel funding you need?
fuel SCHEDULE
Applications are accepted on a rolling basis. The academic year provides six opportunities to earn funding: September, October, November, January, February and March.
Student applications will be reviewed on a monthly basis according to the following schedule. Please note that sometimes it may take an extra day or two for the judges to provide their replies. Click to see the exact dates for the 2024-2025 academic year.
1st Thursday: Applications must be received by noon to be considered
2nd Thursday: Teams will receive written feedback from the judges panel
3rd Thursday: Invited teams will give in-person pitch/demo presentation
4th Thursday: Monetary awards are communicated, up to $25K
Before you apply, please review the FAQs below.
fuel faq
WHO CAN APPLY FOR FUEL
To apply for Fuel, you must be a current University of Michigan Ann Arbor student with a significant role in the startup—such as a co-founder, officer, leader, or someone working full-time on the venture. Since Fuel funding is exclusive to students, you must still be enrolled when the funding is awarded.
When Can i APPLY FOR FUEL
Fuel applications are due BY NOON on the first Thursday of each month. The program runs for six months during the eight-month academic year. The exact dates for 2024-2025 are provided here.
how can i protect my intellectual property
Students should avoid including sensitive intellectual property in their application or presentation. This means not sharing technical details like materials processing, programming code, active contract negotiations, or any trade secrets. Only include information you’re comfortable sharing publicly.
Submitted materials will be shared with U-M staff and a select group of external professionals for assessment. If you have concerns or questions about intellectual property, contact Alison Smith at alisone@umich.edu before applying.
What funding can I request based on my venture’s stage
When applying for Fuel funding, you’ll need to classify your venture’s stage. Assess both your current stage and the maturity of your goal with Fuel’s support. For example, if you have a working iPhone app and plan to test it for a new market, you’re likely at the ‘invention’ stage, as this involves customer discovery.
Please take the time to read these Stage of Venture examples and explanations.
What expenses does Fuel support?
Fuel provides financial awards to support the growth of University of Michigan student ventures, helping teams reach their next milestone within a 12-week period. Funds can be used for:
- Prototype Development: Costs for developing a prototype or MVP.
- Equipment Purchase: Essential tools, materials, or software.
- Customer Discovery: Travel and conference fees for meeting potential customers.
- Professional Subscriptions: Services or tools needed for venture advancement.
Funding will generally not cover:
- Legal Services: IP protection or incorporation, unless crucial for the milestone.
- Interns or External Coders: Direct payments to these individuals will be scrutinized.
- General Professional Services: Services not directly tied to the immediate milestone.*
* Fuel funds are not intended to pay for outside developers or contractors. If a student team requires such services, we encourage them to recruit team members who possess the necessary expertise.
Fuel Application Review Criteria and Rubric
A rubric ensures clarity in evaluation Fuel applications for both applicants and judges.
Applicants should carefully review the rubric document to understand the assessment criteria.
Why would my fuel application not advance?
Unapproved Expenses: Applications with unapproved budget items will be returned before review. See “What Expenses Does Fuel Support” in the FAQ.
Need for Clarity: Judges may request more information for applications they find unclear. Ensure your explanation is understandable, even if the technology is complex. Consider explaining your idea as you would to a family member, making comparisons and highlighting its unique value.
How to qualify for in-person presentations
Judges will use a rubric to determine which teams meet the established criteria to advance to the next stage in Fuel. Teams are evaluated individually against the rubric, not compared to one another. If the majority of judges agree that a team should advance and present during the third week of the month, the team will receive an invitation.
who are the fuel judges?
Fuel judges include U-M entrepreneurial staff, directors, and experienced entrepreneurs from the U-M external network. The group changes monthly, with some core members participating regularly. For Fuel presentations, judges can join in-person or remotely.
HOW JUDGES DETERMINE FUNDING AWARDS
Judges will use the same rubric to evaluate which teams meet the funding criteria. Teams are assessed individually against a set cut-off point. After presentations, judges may ask follow-up questions and discuss the appropriate funding amount. If the majority agrees a team deserves funding, a notification will be sent to that team.
how is funding awarded
Fuel awards are allocated to a student team member with sufficient space in their U-M financial account. Recipients must consider potential tax implications. Note that CFE cannot award funds directly to a student’s company. Alternatively, CFE can directly purchase equipment or resources for the winning team.
Who is my fuel contact
Please contact Alison Smith with your questions: alisone@umich.edu
Need more answers? Schedule a virtual meeting with Alison Smith