Fellows Application

Thank you for your interest in the iVenturED Summer Fellowship Program, where we match Sangamon CEO alumni and UIS entrepreneurship students with local aspiring entrepreneurs interested in launching new businesses and local intrepreneurs seeking to establish new products/services or reach a new market for their existing businesses. 

The Program is a collaborative partnership with the Community Foundation for the Land of Lincoln, iVenturED, Innovate Springfield and UIS College of Business and Management. It aims to:

1. create new local businesses
2. expand existing businesses, and
3. attract homegrown talent back to the area

Through this eight-week summer program, participants will:

• develop and launch a new business idea and/or access a new market
• advance new entrepreneurial skills
• go through a concentrated startup education program
• access mentors, advisors, and investors, launch new businesses, and expand the local entrepreneurial ecosystem

Fellows:

• Are Sangamon CEO alumns in good standing or UIS entrepreneurship students who have either recently graduated or have completed more than 64 college credit hours 
• Must dedicate at least 20 hours per week (June 14 - August 13) 
• Participate in at least three hours of entrepreneurial education per week (online or in-person)
• Can effectively complete the project in eight weeks and pitch it a the demo days on August 13
• Work diligently with entrepreneur/intrepreneurs for the successful completion of the project
• Receive a summer stipend of $2,500
• Must be in-person at least some of the time

Host Entreprepreneurs

• Must be located in the Sangamon County area
• Have a good idea for a new business
• Commit to residency for them and the fellow at Innovate Springfield for three months, which includes the duration of the Program (The total cost not to exceed $300)* 
  • *Need-based financial assistance available
• Must be available at least 2 hours per week to meet with their fellow
• Must participate in at least 1 hour per week of entrepreneurial education*
  • *Education both online and is in-person at Innovate Springfield
• Be available for Demo Day on August 13

Host Intrepreneurs

(Intrepreneur is an entrepreneur currently working at an established company/organization who is looking to launch a new product/service or enter a new market.  The business/organization is the host/applicant.)

• Must be located in the Sangamon County area
• Have an idea for a new product/service or want to expand an existing product/service to a new market
• Must pay $1,000 to join Innovate Springfield corporate sponsorship (includes the fellow's membership)*
  • *need-based financial assistance available
• Be available at least two hours per week to meet (online or in person) with fellow
• Provide fellow three formal feedback sessions
• Be available for Demo Day on August 13 

The ideal host?

• Can meet the above conditions
• Has a good idea for a new product/service, market, or business, but currently does not have the resources (e.g., time, energy, focus, etc.) to research its viability in the market.
• Is willing and able to launch the business/product/service from the Sangamon area if these efforts show it to be viable

Matching: A committee will evaluate each host application on a competitive basis as it relates to program objectives and fit:

• potential viability to launch after the program
• match with available fellows and program resources based on skills 
• positive economic impact 
• promoting a diverse local entrepreneurial economy
• educational impact

Education programming will focus on:

• Lean new product development
• Deep customer discovery and validation
• New markets, competition, and channels
• Contemporary business model development
• Acquiring and effectively managing resources: i.e., teams, supply chain, financing, data gathering, and visualization
• Output: Effective Business Analysis or Plan  

Thank you for taking the time to complete the attached information form.

If you have any questions concerning the Program, please contact Nabih at nelha2@uis.edu.