For the seventh consecutive semester, the Boyd Venture Fund is soliciting applications from student-owned companies interested in securing a grant to help grow their businesses.
The deadline for application submissions is Monday, March 24.
The Anderson Center for Entrepreneurship and Innovation, housed in the College of Business Administration, administers the fund.
All UT students, regardless of academic discipline or degree program (doctoral, master’s, or undergraduate) are eligible to apply.
To qualify for the grant money, each business must be legally established by having a federal tax identification number or business license. The student owners must be enrolled in a UT degree program at the time of application. However, meeting with the grant-evaluation committee after graduation is acceptable.
The Anderson Center will work with any business that receives a grant to connect it with a volunteer mentor—an experienced individual with interest in the type of business being awarded a grant.
To apply for the grant, the student owners representing the company should submit an executive summary of the business, a pro forma budget, and a use-of-funds statement detailing how the grant funds would be spent to move the business forward. The information should be emailed to CEI@utk.edu with the subject line, The Boyd Venture Fund.
Businesses invited to pitch to the grant-award committee will be notified by Monday, March 31, with presentations to the awards committee scheduled for Friday, April 11. Pitches may be done by Skype or video conferencing for management teams not on campus.
The grant-award committee will consider viability of the business concept, growth potential, and need for capital.
Up to $20,000 is available to be awarded. The money may be allocated to one company or among several companies. All available funds may not be awarded in this round. Grant funds will be paid out against confirmed purchase orders or invoices.
The Boyd Venture Fund is made possible by the generosity of UT alumnus Randy Boyd, president and CEO of Radio Systems Corporation.
Learn more about the Boyd Venture Fund on the Anderson Center’s website.