Two schools have recently announced programs that will offer additional support to startups that have some connection with their universities:
Startup companies affiliated with Purdue University in West Lafayette, Indiana, will have two more resources to draw on through a collaboration among the Purdue Foundry, Elevate Ventures, and the Indiana Economic Development Corporation. The school has added two entrepreneurs-in-residence, who can offer mentoring and other advice to new business owners. It also is participating in the three-year, US$2 million Elevate Purdue Foundry Fund, which will offer two tiers of funding to qualified startups: the $20,000 Black Award and the $80,000 Gold Award. Entrepreneurs are eligible for Gold Awards only after they have achieved Black Award milestones; six to eight companies are expected to receive Gold Awards annually.
Georgetown University in Washington, D.C., has launched Startup Stipends, a competitive application process that will award stipends to selected seniors with entrepreneurial aspirations. Students can use the money to launch their new businesses or to pay off student loans so they can start their careers debt-free. Seed funding for the stipends was provided by alumna Victoria Schramm and her family.