The second option is for the Startup to fund 50% of the services while EnterpriseWorks and DCEO fund the other 50%. This will involve an internal application process with input from OTM, but will be less restrictive. The final option is for the Startup to fund 100% of the program upfront. This requires no repayment and qualification through EnterpriseWorks application. This option allows a Startup to access service agreements negotiated by EnterpriseWorks. Service offerings may differ by Startup, which may elect some or all of the proposed services depending on its needs. However, if fewer services are used, the amount of funding may be reduced. I-Start Program Service Offering I-Start Entrepreneur Services Service Types Legal Services Business Planning SBIR Assistance Financial and Payroll Services Student Shared Services Center Scope of Services Initial company formation, bylaws, application for FEIN (filing fees paid by entrepreneur) Stockholder agreements and certificates Stock option plan Employment agreement Non-disclosure agreements Write business plan with inventor input Market research Financial projections Recommend sources of capital Assistance with hiring and incorporation decisions Finding solicitation and agency fit SBIR process guidance Draft budget Writing assistance Help with letters of support Project management Registrations and submission Payroll admin and tax withholding Quarterly and annual financial statements Assistance with Quickbooks setup for the business Market research Presentation assistance Initial template website Logo assistance Social media, Adwords IT/Computer system setup (up to 100 hours of student work) Cost for Service Package $2,200 $7,200 $2,500 $3,000 in-kind contribution of $1,400 Total New Company First-Year Service Package: $14,900 plus in-kind donated support of up to $1,400 in student time per startup Selection Process: Entrepreneurs will submit an application explaining their request for funding. Proposals will be reviewed on a rolling basis for competitive evaluation and allocation of funding. The EnterpriseWorks staff, Office of Technology Management, and Research Park Entrepreneurs-in-Residence will serve as the review committee. The committee will review proposals for company need, participation and commitment of the inventor/researcher in the company, commercialization potential of the applicant, interest by commercial partners or investors, and evaluation of the innovation and research.
Advisor: University Affiliations Are any team members currently employed by the University? Yes: No: Have you begun a conflict management plan for your role working within your company? Yes: No: Are any team members currently enrolled at the University? Yes: No: Are any team members alumni of the University? Yes: No: Describe any past or present affiliations that your company has had with UIUC researchers and departments for the purpose of developing its product(s) or assisting with your business development: Intellectual Property Does your product/service include UIUC intellectual property? Yes: No: Have you disclosed this fact to the Office of Technology Management? Yes: No: Are you negotiating a licensing agreement with OTM? Yes: No: What is the status of the licensing agreement? Entrepreneur-in-Residence Consultation Have you met with an EIR to help you with your new business already? Yes: No: Which one(s) and what you have worked with them to address so far?