iVenture 11 Applications
Welcome to iVenture's Cohort 11 Applications! iVenture is the educational Accelerator for student startups ready to scale within the U of I system and serves as the capstone entrepreneurial program for the university.
The current deadline for applications is on November 15th, 2024. After, the Committee will review all applications and either accept you into Cohort 11 or provide feedback on what you can improve upon. A rejection isn't final, and you are more than welcome to submit a second application detailing your progress.
If you have any questions, please feel free to reach out to
[email protected]. Best of luck!
Describe your venture in 200 characters or less.
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What problem are you solving, and why did you pick this idea to work on? What's new about your solution?
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What is the product or service you are developing?
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What industry best describes your market:
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What industry best describes your market:
If your market is something other than what was listed above, please share here.
Who are your customers and/or users?
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Tell us about any customer or user interaction you've had to date. What feedback have they given you and how are you incorporating their feedback into your product/service? How do you plan to gain or attract initial users if you haven’t already?
Do you have a grand 5-10 year vision?
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How many people are on the team and how many are based out of UIUC? When is everyone's graduation date?
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How did you meet your co-founders, and in what capacity have you been working together?
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Briefly discuss each member's role on the team and each member's proudest achievement (can be related or not related to your venture).
Please share everyone's LinkedIn.
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What is the equity breakdown for every team member and anyone else who is involved?
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The majority of equity must be with UIUC students.
Which of your team members will be attending the summer session?
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At least 1 core founder must be present during the summer.
Which of your team members would enroll or audit this 3-credit hour course in the following Fall and Spring semesters?
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iVenture is a year-long program and requires enrollment in the highly-ranked iVenture Seminar course from at least two members of your team (including one of the founders).
Why is your team the best team to solve this problem and build this solution?
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Please mention any previous startup experience, relevant domain / industry / technical expertise you have, deep relationships in the industry you're working in, or any other outsized advantages any of your teammates bring to the table. What gaps are on your team?
Who are your competitors? Who are you most afraid of? How do you distinguish yourself from other players in the field - what is your secret sauce?
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What progress have you achieved to date?
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Talk about any customer discovery or idea validation that you've done, any pilot programs or prototypes you've run or built, and any contracts/deals/revenues you've had.
What milestones do you hope to achieve working on your venture full-time during the summer and throughout the following academic year?
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What deadlines have you set? Please list 4-5 key milestones for Summer 2025 and 2-3 additional milestones for the 2024-2025 academic year.
What are your biggest hurdles right now? What areas of support does your team need the most?
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Don't worry if you're selecting too many – iVenture is an educational accelerator.
What are your biggest hurdles right now? What areas of support does your team need the most?
If your biggest hurdles / support needs include something other than what was listed above, please share here.
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Have you formed a legal entity for your startup yet? Have you raised any funding for your startup? If so, how much and from where?
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Examples include funding from family, angels, grants, scholarships, and competitions.
What is your business model and plan for sustainability? How do you make money or plan on making money?
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If you have an online demo, what's the URL?
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Please don't password protect it; just use an obscure url (e.g. a bit.ly link). Feel free to attach an attachment at the end of this application that gives an indication of your startup idea, model, progress, team, etc. (Max file size 30MB.)
Upload any relevant files here:
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How do you envision utilizing the iVenture Accelerator's resources and support systems to help you achieve your milestones?
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What resources have you taken advantage of on-campus or in the broader world to help you build your venture idea?
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Let us know about any entrepreneurship or venture development courses, hackathons, events, forums, or other resources you've participated in.
Do you have any faculty or instructors involved in your startup? If so, please list their names, titles, and the capacity in which they are involved.
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Do you have any advisors, mentors, or additional references that can speak to your team's progress?
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Please include their name, title, phone number, and email.
Would you like to add anything else?
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How did you hear about iVenture?
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