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Business Launch Challenge Sponsored by the Emerging Entrepreneur Funds

Forsyth Tech Community College, Piedmont International University, Salem College, UNC School of the Arts, Wake Forest University, & Winston Salem State University

Application

Launch Challenge Participants 2017

Application:

  • Each institution will determine its application process.
  • Forsyth Tech:
    • There will be an application process in July for the September challenge and October for the January challenge.
    • Applicants will be either alumni, current students, and Small Business Center clients.
    • The challenge is to launch businesses by the conclusion of the program.
    • 10-20 prospective business owners will be accepted into the program each session.
    • Selection would be based largely on the feasibility of business ideas.

Program:

  • Each institution will determine whether to invite its applicants to participate in this process.
    • The Launch Challenge will function during 3-4 month periods.
      • two sessions per year: January-April & September-December
    • Participants will be required to participate in at least five Small Business Center educational events each month.
      • some events would be required such as the Pathway to Success series
    • Participants will be required to participate in at least three Small Business Center mentoring sessions each month.
    • Participants will be required to launch or be prepared to launch their business by the end of their session.
    • Participants will be required to provide weekly reports updating their progress.

Awards:

  • Each institution will determine its award process.
  • Forsyth Tech:
    • Awards will be made at the end of each session to participants that meet program requirements and launch their business.
      • The award pool for each session will be $50,000.
      • Individual award amounts will be based on the number of successful business launches.
    • Awardees will be required to provide monthly reports updating their progress.
    • Additional awards will be made 3-6 months after the launch their business.