Image via Flickr/Ron Cogswell (CC BY 2.0)
Starting in the spring, Georgetown University students actively pursuing their entrepreneurial dreams may be offered the financial assistance they need to make their startup ideas a reality.
A new program announced by Founding Director of the Georgetown Entrepreneurship Initiative Jeff Reid and alumna Victoria Schramm will provide Startup Stipends to help out graduating seniors with the launch of their innovative ventures. Available through a competitive application process, the recipients will be able to use the funds to cover some of the costs associated with building a business from the ground up, as well as their student loans.
"I often talk with Georgetown students who tell me they would love to pursue an entrepreneurial opportunity, but they are prevented from doing so because of their immediate obligation to start paying their student loans," Reid outlined in a statement. "The Startup Stipend releases a lot of the pressure recent graduates feel about starting a company in that it gives them the peace of mind that they will receive assistance with their expenses."
Seed funding for this initiative was provided by the Schramm family. A 2012 graduate of Georgetown, Schramm believes that supporting the next generation of entrepreneurs is pivotal to our country's economic future. She would know, too, as Schramm is the director of events for UP Global, an organization focused on fostering entrepreneurship, grooming grassroots leaders and growing strong communities through programs like StartupDigest, Startup Weekend and Next Accelerator.
"If students are worried about making monthly payments, they may be more likely to take a job they are less passionate about," Reid added. "Similar programs exist to encourage graduates to pursue careers in public interest law or teaching. We thought it would be a good idea to help aspiring entrepreneurs in the same way, since entrepreneurs provide huge value to society by solving problems, creating jobs, and growing the economy. We know of no other school offering this sort of opportunity, though we certainly hope others will follow."
In order to qualify for Startup Stipends, students don't have to have a background in business. Any Georgetown seniors are welcome to apply for Startup Stipends that include monetary assistance, mentoring, programming and a whole slew of networking events.
Georgetown is making its commitment to cultivating successful entrepreneurs abundantly clear. Just over a week ago, the university announced an academic partnership with D.C. startup incubator and venture fund 1776 that will allow aspiring student founders the chance to explore the entrepreneurial environment in-person. Now, Georgetown's offering funding, too, adding to its already substantial list of advantageous opportunities for young entrepreneurs.
Source : http://inthecapital.streetwise.co/2014/09/30/georgetown-offers-startup-stipends-to-student-entrepreneurs/
