West Virginia University’s BrickStreet Center for Innovation and Entrepreneurship has announced another opportunity for student entrepreneurs at any school in the WVU system to get their business start-up costs funded.
Beginning this academic year, the BrickStreet Center, which operates out of the College of Business and Economics, is funding two $5,000 Economic Development grants for new start-up businesses in West Virginia. The Center will fund these grants each academic year the funds are available, beginning August 1 through May 31.
“The BrickStreet Center is designed to assist in identifying and cultivating innovative entrepreneurial ideas throughout the state, and these economic development grants are one way we do this,” said Steven Cutright, director of the center. “The grants will promote economic development and an entrepreneurial spirit within the WVU system, while also providing a significant, positive impact on the economic climate of West Virginia. The grant application and evaluation process will closely emulate a bank loan process, which will allow this effort to have both an educational and a financial component.”
To be eligible to receive a start-up grant, applicants must be full-time students enrolled at WVU or one of its satellite schools or campuses at the time of application. Grant recipients must start and operate the business in West Virginia, and must have a mentor or advisor approved by the grant selection committee.
To apply for a start-up grant, eligible students should submit a business plan and other documents outlining the requested amount of startup funds, a detailed breakdown of how the funds will be used and projected dates of benchmark compliance at be.wvu.edu/cie/grant.htm.
Once received, a selection committee consisting of the B&E dean, the associate dean of Innovation, Outreach and Engagement at the College of B&E and the director of the BrickStreet Center will review the submissions, and then hold face-to-face interviews with selected applicants to create a “business financing” environment.
The BrickStreet Center will continue to accept applications throughout the academic year. Once the selection committee approves and funds two applications, the center and the selection committee will not consider any other applications during that academic year.
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