Eligibility requirements – Applicants

• Applicants must have at least one actively participating executive or founding team member who is a matriculated Tufts undergraduate or graduate student
• Applicants must not have raised more than $250,000 combined in grants, fellowships, convertible notes, SAFE notes, equity-based financing or other funding sources at the time of application
• Applicants must commit to working on their project within the 3 month period after receiving the award
• Applicants must commit to making contact with their designated mentor at least twice during the 3 month period after receiving the award

Eligible entrepreneurial initiatives

• Programs, events, or initiatives that support students in developing an innovative and entrepreneurial mindset and skillset (e.g. conferences, hackathons, etc)
• Projects that support the exploration or development of a new venture (startup, small business, nonprofit)

Eligible expense examples

• Software / web hosting / no code platform costs such as Zendesk, Squarespace / Wix, Airtable
• Digital marketing costs such as Google Ads, Facebook Ads, Instagram Ads
• Travel and lodging costs for primary market research such as bus tickets from Boston to New York
• Prototyping costs
• Staffing costs for consultants, interns and temporary labor (specify rate & number of hours)
• Shipping and handling
• Office supplies
• Marketing assets
• Shipping and handling
• Logo apparel and other SWAG items

Selection criteria and grant size decisions

• Selection criteria and grant size decisions are based on the funding committee’s assessment of whether or not the team presented a compelling case for the use of funds on activities and expenditures that are appropriate and relevant for the stage of development of the venture.
• Awards will be distributed if and only if the committee believes the award will make a significant and positive impact on their progress and traction at the time of the award grant. Projected expenses are anticipated to be incurred within 3 months of the award grant.

Prize Money and Tax Implications

• Check vouchers will be written to the lead contact of winning teams as listed on their application.
• It is the responsibility of the team to determine how the prize money will be used or distributed among team members.
• All payments are considered income and are therefore taxable. Non-U.S. citizens are typically subject to tax withholding from any money they receive. We are not able to provide tax guidance – please plan accordingly.