Up to $220,000 in grants will be made available to 12 companies diverse in business stage, idea and ownership in the latest round of awards by the Ideadvance Seed Fund.
The Ideadvance program fosters teams that want to advance a scalable, profitable business model. Grant dollars are earned after demonstrating key learnings toward commercialization goals. Awardees are supported by a teaching team, mentors and the program manager as they work through the Ideadvance Lean Startup program.
New this year are two Stage 1 tracks:
- Small Business Innovation ($15,000): These awardees are likely to pursue follow-on funding through revenue, angels or venture capital funding, and therefore Lean Startup learning objectives focus toward a sales launch with pilot customers and consider debt financing and/or equity financing.
- Partnered Innovation ($25,000): Awardees should be actively engaged with or expect to require partner expertise toward commercialization of an innovative process or deep technology. Lean Startup learning objectives focus toward a pilot or fully executed partner agreement or engagement fr competitive grant/contract, debt and/or equity financing. Read more …