Entrepreneurial Initiative Fund
Rules of Engagement
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.