1. I have a question about applying to the fund. Who should I speak to?
Any member of the Innovation Seed Fund Committee would be happy to speak to you about the fund and the application process. If you would like to request student assistance through the Schlegel Centre for Entrepreneurship in preparing your application, please send your request to firstname.lastname@example.org.
2. I am an alumnus/alumna. Can I submit an application to the fund?
Yes, you are more than welcome to submit an application to the fund. It would be helpful if you included a recommendation for how your initiative might be (co-)sponsored by an internal department.
3. Can a project proposal be submitted by a group or a team of people?
Yes. Initiatives can be submitted jointly by more than one person. This is encouraged especially in cases where projects cross campuses, faculties, departments or other areas of responsibility.
4. When are concept proposals due?
There will be multiple rounds where concept proposals and business plans are considered for funding. For the most current information please visit the Key Dates section of the web site.
5. My idea is such a large undertaking that I am hesitating to submit a concept proposal. What should I do?
The Committee is interested in all ideas, from the relatively small to the very large. If your idea is large scale and/or requires significant funding, do not let that deter you! If possible, frame it as a pilot project which can be tested on a smaller scale and then evaluated for future expansion.
6. If my project involves cost reduction, does it still need to share the resulting monetary gain?
Yes. However, cost-saving initiatives must repay only the initial investment.
7. Is it possible to apply the resulting monetary gain from cost reductions toward future budget cuts?
Yes. Faculties/departments may direct resulting monetary gains from cost reductions toward budget reduction targets. The Budget Office will ensure accurate attribution of these gains toward targets.
8. The project I am proposing will generate revenue which my faculty/department wants to keep for itself. Does the revenue really have to be shared?
Yes. It is generally expected that the originating faculty/department will share net revenue in equal proportion with the Innovation Seed Fund and the university.
*Other answers to frequently asked questions will be posted on an ongoing basis.