The Boyd Venture Challenge is a seed-fund grant competition conducted in the fall and spring semesters each year.
Companies are awarded up to $20,000 in startup capital. Funds may be awarded to one company or split among several companies.
Applications open March 9 and close on April 6, 2020.
In general, any legally established, University of Tennessee, Knoxville, student-owned business is eligible to apply. Specifically:
- Student-owned businesses must have a federal tax ID (FEIN or TIN).
- Student-owned businesses can be a corporation, LLC, partnership or sole proprietorship.
- The student owner must hold majority interest in the business.
- Student-owned businesses awarded funds in previous Boyd Venture Challenge competitions can apply again but must show how past funds were used to advance the business.
The application period opens during the spring semester each year. To apply, student owner(s) should submit an executive summary of their business, a pro forma budget and financial statements for five quarters out. If the business is currently generating revenue, please submit the financial statements for the previous five quarters. Additionally, applicants should submit a statement detailing how the grant funds would be used to propel their business.
Send applications to ACEI@utk.edu with “Boyd Venture Challenge” in the subject line. The grant-award committee will consider each company’s need for capital, business concept viability and growth potential.