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AZ Tech Beat | October 29, 2020

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ASU offers $400K in funding for up to 50 student ventures

ASU offers $400K in funding for up to 50 student ventures
Ashley Garcia

It’s that time again to apply for the Edson Student Entrepreneur Initiative to get funding and other support for your venture!

For the 10th consecutive year, the Edson Student Entrepreneur Initiative is the university’s premier student startup competition. Managed by ASU’s Entrepreneurship and Innovation Group (EIG), part of the Office of Knowledge Enterprise Development (OKED), the initiative is one of the largest privately funded business plan competitions at a U.S. university. Its main purpose is to give ASU’s student entrepreneurs the opportunity to develop their innovative ideas and launch viable startup companies.

GordonMcConnell_AwardcropGordon McConnell, associate vice president of entrepreneurship and innovation at ASU says, “The Edson competition is an important and significant feeder to the local tech scene not just in the Greater Phoenix area but for the whole state. Our new ability to support up to 50 new student-led startups, coupled with our mentor-led acceleration process, should have significant impact over the coming years. Over the last 30 months our recent Edson startups have helped create more than 50 direct and indirect jobs.”

Each year the competition’s top 20 student ventures are selected to receive funding, office space, training and mentorship over a 10-month period. This year an additional 30 student startups will receive funding and mentorship through the Great Little Companies Network, a campus-based program housed at the Changemaker Central locations on each of ASU’s four campuses. In total, $400,000 in direct funding is available for up to 50 student ventures, with all of the funding coming from private sources.

In addition, ASU colleges and schools will compete to be recognized as ASU’s “most entrepreneurial college or school” in the second annual Startup Bowl. The college or school that generates the highest percentage of Edson proposals per capita will be honored as the winner of the Startup Bowl. The Ira A. Fulton Schools of Engineering took home the inaugural Startup Bowl trophy in 2013.

The competition is open to all ASU students, including undergraduate, graduate, postdoctoral and part-time students enrolled in any ASU program. At least one member of the team must be an ASU student at the time the team’s proposal is submitted. Individual students may submit more than one proposal; multiple submissions will not decrease the likelihood of being selected for funding.

Each team must complete the competition’s application by Tuesday, April 1, at 5 p.m. For more information, visit the Edson Student Entrepreneur Initiative website here or follow them on Facebook!

Read more about previous Edson AZTB coverage here.