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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

On May 4, 2017, six colleges/universities announced their financial commitment to starting businesses in our city. Each institution will provide financial capital to selected persons committed to starting their businesses. Forsyth Tech is pleased to introduce the Launch Challenge.


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.

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