Incubator Grant Program
The Corzo Center Incubator Grant / Wells Fargo Fellowship Program helps UArts students and alumni launch businesses and establish social enterprises.
The program provides funding to UArts seniors, graduate students, and alumni (who have graduated within the last 10 years) through grants of up to $10,000. Grantees are offered support from advisors for up to 12 months.
Applications are now being accepted for the 2017 grants.
- Complete an application online prior to the deadline.
- If selected, present before a panel on Wednesday, May 24th at 1-5pm and provide a working budget, outline of work to be undertaken during the term of the award, and a short description of work already undertaken on the business venture.
- Sign an agreement that outlines responsibilities and the conditions of the grant.
UArts seniors, graduate students, and alumni (who have graduated in the last ten years) are eligible to apply for funding. Each year, a limited number of grants of up to $10,000 are awarded. Funding begins July 1 and the terms of the grant must be completed by June 30 of the following year.
Applications should reflect a clear sense of purpose, benefit, and audience, and demonstrate that the applicant has an ability to complete the project within twelve months. A panel of entrepreneurs will review all applications. Awards are highly competitive and given to applicants whose proposals demonstrate a strategy to sustain the enterprise beyond the grant. Those that are selected must be local to Philadelphia.
A panel will review applications with the following criteria in mind:
- The application presents a context and a framework that tests it.
- The applicant (or the team) has a defined vision, energy, intelligence, and the willingness to experiment and learn from those advising him/her.
- The idea suggests an innovative use of the creative skills the applicant has developed. It suggests a novel way of communicating with new audiences, connects new content to traditional audiences, and/or promises social change.
- The application presents a strategy that shows how the idea might be sustainable or has entrepreneurial potential.
- The applicant has a good sense of the primary market.
- The applicant has a realistic view of what’s being proposed and what it might take to achieve it.
- The applicant’s experience demonstrates an ability to achieve the goals s/he sets out and to learn from the program.
- The most important criteria: It is clear that the applicant's commitment to the idea can last despite difficulties.
Grants are paid in three equal allotments. The first payment will be within one month of signing the agreement, the second payment after the mid-program report has been received, and the final payment upon receipt of all deliverables. (Note: Grantees are responsible for any tax liabilities connected to this grant and should speak with their accountants.)
If an applicant is funded, a grantee will be required to:
- Sign an agreement outlining the work promised, the timetable for completing it, and the expressed consent to credit the Corzo Center, the University of the Arts, and Wells Fargo in any public use of the work that results during and from the grant for up to five years.
- Meet with at least one Corzo Center entrepreneurship office hours consultant or a member of the Corzo staff at least once a month through the duration of the program.
- Submit a mid-program summary report detailing achievements, problems, and challenges faced, changes in the timetable and budget, and next steps.
- Submit a final written report and video which both include documentation of the work that explains achievements, problems and/or challenges faced, and next steps.
- Present the work to other UArts students and members of the community both at the University and outside of it.
- Allow the Corzo Center and the University of the Arts a non-exclusive right to present or exhibit the work funded through the Incubator as part of the UArts educational mission or marketing campaigns.
- Agree to the University’s Intellectual Property Policy (below).
Note: The University of the Arts’ Intellectual Property Policy confirms that ownership of work rests with the creator[s]. It does allow the University to arrange for some return of monies if there has been a substantial investment of University resources. In some cases, grantees may be asked to agree to re-invest a modest percentage of net profits in the Creative Incubator in order to fund future student and alumni grants and projects. These terms will be defined prior to beginning the grant.