Next Step
Which students would benefit most from the Next Step Fellowship?
The Next Step Fellowship is designed to assist the Juniata student who has an idea to create a new, or enhance an existing product or service, which could serve as the basis for a new business venture or entrepreneurial initiative. Fellowship resources support them as they research their product/service concept, in order to determine its commercial/market viability. It positions the student to complete a full business abstract and ready him/her to solicit funding.
What is included in the Next Step Fellowship?
The Next Step Fellowship provides student entrepreneurs with resources in three vital areas for business creation - Student Stipend, Support, and Research Capital.
Student Stipend
- Ability to receive $7.25 per hour, for (non-class related) time spent on the concept and business venture development, for up to 10-hours per week.
Support
- Five hours of personalized consulting time with the JCEL/HCBI team - assistance with business abstract, marketing research and locating additional funding sources
- Personal introduction to and interaction with an entrepreneurial mentor
- Connection with professional service providers in accounting, law, banking and insurance
Research Capital
- Up to $500 to support business/product concept research expenses (purchases, long distance, copies, mileage reimbursement, service providers, etc.)
What is the application process?
- Students submit a business abstract electronically to the JCEL Executive Director.
Business Abstract (2-3 pages) should address the following questions:
- Student Entrepreneur(s) Information - name, class year, academic advisors, email, phone and address
- Describe something that does not exist that you plan to create or an opportunity to improve an existing product or service.
- Who would purchase your product or service?
- What makes your proposed product or service better, faster and/or cheaper than your competition (if any exist)?
- As a student entrepreneur, describe your experience and motivation as it relates to your business idea.
- Develop an "Action/Work Plan" detailing how many hours you would spend per week researching your business idea/concept. List step-by-step actions to be taken and an estimate of how many hours it will take to complete each step. Action/Work Plan should be an addendum to the abstract.
Note: Students requiring assistance in developing their Business Abstract are encouraged to contact JCEL.
- JCEL Staff will review proposal, meet with student entrepreneur and provide staff comments with recommended action to JCEL Seed Capital Committee.
- JCEL Seed Capital Committee will review staff comments with recommended action and make final decision.
