Colgate student and alumni entrepreneurs are invited to put their mouths where the money is.
Applications are now being accepted for the first round of awards from the university’s new Entrepreneurs of New York fund (ENY). The ENY fund was recently established to grow and advance for-profit and not-for-profit ventures that “have the potential to solve big problems.” The fund’s mission is also to keep such entrepreneurial activity in Hamilton and central New York.
The first awards have a cap of $15,000 and are to be used over a 10-week summer incubator period beginning in May. Recipients will receive local workspace and other support, so they can focus their energy on preparing for future viability and commercialization of their venture. The deadline to apply is March 15.
After this summer’s incubator program, longer-term awards of up to $45,000 will be offered, with the intent to support 6–9 months of development time, and supplement investment capital for full commercialization of a venture. Preference will be given to teams who receive short-term awards and participate in the summer incubator.
“This is an opportunity for students to follow their own dreams, their own passions, their own vision,” said Dan Rosensweig P’15, ’17, who helped conceive and initially seed the ENY fund. “They can build a critical mass with their colleagues and fellow students to really make Colgate and Hamilton a center for entrepreneurialism.”
Wills Hapworth ’07, an entrepreneur and the founder of DarkHorse Investors, which invests in college students’ startup ventures, agrees. “Support from alumni, administrators, faculty, and the local community has been coalescing into a very compelling startup eco-system at Colgate.” As director of Colgate’s Thought into Action Institute, Hapworth has recruited many alumni and parents to work with students who aim to apply their liberal arts education to creating jobs for themselves.
To learn more about ENY fund eligibility, benefits, and judging criteria, click here and apply.
Awards will be announced on April 6th at Colgate’s Entrepreneur Weekend.