fundings for college entrepreneurs (Ontario Canada only) April 4, 2006Posted by Timothy Li in college, Entrepreneurship, Funding, university, waterloo, wind.
I had the honor to speak with Rob Clement from Waterloo Region Small Business Center on Monday again. This is our second meeting regarding my opportunity to get accepted into the Summer Company program.
Rob calls the $3000 involved awards. But I use the term funding here to help my college readers to differentiate this from academic awards.
In simplist terms, the program works like this –
1. you submit your business plan to compete.
ask for a sum of $1500
map portions of this amount to various realistic start-up costs.
2. your plan is evaluated and hopefully accepted.
you get $1500 startup funding
3. you launch your Summer Company in May
you work towards your projections and generate cash flow
a team of 3 advisors will assist you once a month
4. you go back to school in September
your progress is evaluated based on the cash flow you generated
you get $1500 to spend at will.
Thanks to April Wang and James Perly (government funding specialist) for introducing me to this program.