Entrepreneur Francis Shen, an alumnus of UTIAS, has committed a $1 million donation to establish a new entrepreneurial incubation program at UTIAS called Start@UTIAS. The purpose of this program is to encourage and facilitate UTIAS graduate students to utilize the knowledge and skills that they have gained through their education to create business start-ups.
Important Start@UTIAS Dates
1. Start-up information session – September 27, 2016
2. Application submission deadline – November 3, 2016
3. Team one-on-one interviews – November 8 – 16, 2016
4. First round selection – November 18, 2016
5. Second round selection with funding – March 2017
6. Start@UTIAS Pitch Event – TBD
How to Get Started
Teams of 2 to 4 members, led by at least one UTIAS student or alumnus/alumna, may submit an application to be part of this program. The Start@UTIAS selection committee will evaluate each application and, if necessary, they may conduct interviews. 5 to 10 teams will then be selected to be part of the Start@UTIAS program.
Start@UTIAS is designed to offer the tools needed to create successful start-ups. These tools include mentorship, legal and accounting advice, speaker series, networking opportunities, and capital funding.
How to Create an Eligible Start@UTIAS Team
Each team must be comprised of at least one founder who is a UTIAS student in good academic standing, or an alumnus/alumna, and with an agreement that he or she will own a minimum 25% of the resulting start-up company. If a team is already incorporated, at least one UTIAS student or alumnus/alumna must own at least 25% of the company. If a team has not been incorporated, all team members must sign a Start@UTIAS cooperation agreement that will cover the handling of intellectual property and the general working relationships.
Use of the Start@UTIAS Grant
The grant is to be used expressly to pay for business expenses related to the Start@UTIAS Team’s project. There will be no salaries or fees of any kind paid to the team members. A project account governed by UofT policies will be setup at UTIAS for fund disbursements for each Start@UTIAS Team.