#ZellChat #3: Dare to Dream Grant Program

Shannon Beeman
February 3, 2015

We hosted our third Twitter chat last week and wanted to share the content for anyone who couldn’t follow along. In it, we focused on ZLI’s Dare to Dream grant program.

If you aren’t already, follow us on Twitter @ZellLurie. Look out for our next #ZellChat on March 10! We’ll be talking about the Marcel Gani Internship program.

What is the Dare to Dream grant program?

  • The Dare to Dream grant program gives money and guidance to students trying to determine the viability of their business idea.
  • The grant has three phases ranging from ideation to business launch.
  • Student teams have the opportunity to apply for grants of $500-$5,000.
  • Awardees attend startup workshops and office hours with our staff and faculty.

Do I have to be part of a team to apply? Can I apply with more than one idea?

  • You can apply as part of a team or as an individual. You need at least one current UM student.
  • We encourage interdisciplinary teams to apply.
  • While you can be on more than one project, it’s discouraged. It’s tough to prove commitment to your idea if you have multiple.
  • You can only apply to one phase per semester with your business idea.

I’ve been selected as a grant awardee. Now what?

  • Congratulations! We’re here to help, so make sure to attend the startup workshops we’ve made available to you.
  • We’ll be hosting workshops in Feb. at Michigan Ross. Topics include: survey design, market and financial assessment and more.
  • At least half of your team is required to attend the appropriate workshop for your grant—each one will be 60-90 minutes long.

As a Mayleben Venture Shaping Grant awardee, what is required of me?

  • Venturing Shaping awardees are required to attend ZLI office hours and two workshops (Survey Design and Venture Shaping).
  • The awardee will receive $500 once the deliverable (a business construct) is completed and approved.

As a Dare to Dream Assessment Grant awardee, what is required of me?

  • Awardees must attend ZLI office hours in addition to two workshops (Market Assessment & Financial Assessment).
  • The winning team will receive $1,500 once the deliverable (a feasibility study) is completed and approved.

As an alum working on his/her startup, how can I leverage ZLI’s resources to get my startup going?

  • If you add a current student to your team, you can go through Dare to Dream and the Michigan Business Challenge.
  • We will soon be launching the Desai Accelerator, which will be open to UM alums. Stay tuned!
  • The first step would be to get in touch so we can find the best fit—classroom project, MAP, ZLI programs, etc.

If I’m selected as a Dare to Dream Integration Grant awardee, what is required of me?

  • Awardees must attend ZLI office hours and a business plan workshop, and write a complete business plan.
  • Grants of up to $5k are paid half upon the award announcement and half upon acceptance of the final deliverable.

Who are some previous recipients and where are they now?

  • Last year, $50,000 in grants were awarded to 45 student teams
  • Cribspot, a housing rental site for college students, was awarded a $5,000 Integration grant.
  • Elegus Technologies, which improves the performance of lithium ion batteries, won a $500 Venture Shaping grant.
  • Movellus, Flipsi Bottle and My Derm Portal received Dare to Dream Integration grants in 2014!

How do you apply?

  • Step one: decide which phase your business is best qualified for. If you are unsure, sign up for office hours.
  • The application form is on our website. The deadline is 8am on February 2nd. Find more information here: http://bit.ly/15zrOC7