The NIIC Student Venture Lab (SVL) Program offers young entrepreneurs the opportunity to start and grow businesses in a supportive, success-focused environment. Based upon the highly successful model used by technology startup accelerator TechStars, the Innovation Center’s SVL offers seed investment – and much more – to selected student-owned startup technology ventures.
Young business owners who are accepted into the program receive a $3,000 cash investment plus in-kind investments that include a bundle of six months office space at the Innovation Center campus, personal coaching, and mentoring – all in exchange for a small amount of equity (three percent).
Venture qualifications include:
- One to four owners, at least one of which must be a Northeast Indiana high school, university student, or recent graduate within the last three years
- Low capital needs and a quick path to revenue
- A portable venture (one that may be taken to college and then moved backed to Northeast Indiana)
- A sincere intent to locate long-term in Northeast Indiana
- A technology venture or a highly innovative, game changing non-tech venture
During the initial six-month period, ventures will be expected to build a product demonstration, create a business model, and validate both of those with prospective customers.
Ventures will receive one-on-one coaching from NIIC’s Business Coach. As needed, they may also receive mentoring from a variety of local CEOs, bankers, accountants, investors, and others. At the end of the six-month term, each venture will demonstrate their product and their customer-validated business model at SVL Demo Day to investors, bankers, and leaders of the region’s business and technology community. Ventures that have shown tangible progress during the first six months may receive a follow-on cash and office space investment for a second six month period. A third-round of funding/coaching is also possible for promising ventures.
To apply or get more information, contact Business Coach Gary Fry, email@example.com or telephone number 260 487-3298. START! HERE.