Creative Incubator Grant
The Creative Incubator Grant / Wells Fargo Fellowship Program helps UArts students and alumni test and launch creative arts businesses and social enterprises.
Deadline: TBD - Spring 2014
Funding and support: The Corzo Center provides funding to UArts seniors, graduate students, and alumni through grants of up to $10,000.
In addition to funding, the program offers mentors who provide assistance with help developing business and marketing strategies, setting up businesses, writing proposals, and dealing with legal and financial issues.
What to think about before applying: Consider some of the following questions when applying for the Creative Incubator:
- What is your idea? What product or service do you want to develop? Be able to define your idea in one or two sentences.
- What is its benefit? What will your idea improve or what problem will it solve if you bring it to life? For example, it might make the way we communicate, collaborate, or create better or more efficient.
- How do your ideas connect to art, design, or media and the creative process?
- Does your idea put your art, design, or media into a new context, develop a new application, or suggest a new way to attract an audience?
- What makes your idea innovative? What need does it satisfy?
- Who is your audience/market? Who do you think will be most interested in your idea, product, or service?
- Who is your competition? Is your idea similar to others? How do you stand out?
- What steps will you need to complete? What is your timetable?
- What help will you need to make your idea real? What kind of support will you need to complete each stage: time, money, help from others, space, equipment, and so on.
- How do you plan to use the funding? What is your budget? Do you have other sources of money to help? When will you need the money?
- Do you have a mentor or business partner? Do you know of any businesses that could help build your idea?
- What are your business strengths? What areas do you need the most help understanding?
- How will your idea be sustainable over time?
Application process: The following are required.
- Send an email to firstname.lastname@example.org with the subject “Intention to Apply for Creative Incubator Grant.” In the body of the email, write your name, phone number, major, year of graduation, and the amount you hope to receive.
- Attend an Incubator orientation session to learn more about the details of the program.
- Complete an application and budget form online prior to the deadline.
- Finalists must give a presentation and additional information may be requested.
- Grantees must sign an agreement which outlines their responsibilities and the conditions of the grant.
Applicants are encouraged strongly to participate in Corzo-sponsored lectures, workshops, and courses on business planning, marketing, and related topics in order to prepare their application and define their idea.
Eligibility: UArts seniors, graduate students, and alumni (who have graduated in the last ten years) are eligible to apply for funding. Each year, we award a limited number of grants of up to $10,000. Funding begins July 1 and the terms of the grant must be completed within 12 months.
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 proposal demonstrates a strategy to sustain the enterprise beyond the grant.
Proposal Criteria: A panel will review proposals with the following criteria in mind:
- The project has the potential to develop innovative applications of technology or media, proposes a novel way of communicating with new audiences, connects new content to traditional audiences, and/or promises social change.
- The proposal presents a strategy that shows how the project might be sustainable or has entrepreneurial potential.
- The proposal reflects a good sense of the primary market for the idea.
- The idea is marketable, has the potential to be licensed, or is a part of a larger idea for a business.
- The proposal presents a realistic set of measurable milestones.
- The applicant’s experience demonstrates an ability to complete the project.
- The most important criteria: It is clear that the applicant's commitment to the idea can last despite difficulties.
Payments: Grants are paid in three equal allotments. The first payment 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.)
Responsibilities: If a proposal 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.
- Agree to the University’s Intellectual Property Policy.
- Submit monthly reports summarizing monthly advisory meetings and updates on work undertaken.
- 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 includes 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.
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.