- The Student Incubator is available to selected student-run startup companies.
- To be eligible for initial occupancy, the management team of each company must be made up of at least 50% currently enrolled students, either undergraduate or graduate level.
- All interested student businesses must download and fill out the application form to be considered for admission into the incubator. Applications are submitted via email to Matthew Spielmann at the Ain Center for Entrepreneurship.
- The annual winner of the Mark Ain Business Model Competition will automatically qualify for admission into the Student Incubator.
- Student Incubator companies agree to use the space only for the purpose described in the company’s application.
- The student teams agree to provide quarterly updates to their mentor, which will include progress against agreed upon milestones, and financial reporting – to help companies begin to develop a regular reporting ‘rhythm’
- If occupant companies fail to make progress on their agreed upon milestones for a period of six months or longer, they may be asked to exit the incubator.
- Once all original company team members have graduated from the University, they will no longer be eligible for free space and will begin to transition out of the Student Incubator (transition period not to exceed one year). During the transition period, companies will pay a discounted rent to the University (equal to $100/month per team member, up to $200/month maximum per company), beginning the first day of the month following the last team member’s graduation from the University. Companies in the transition period will be required to sign and be subject to the terms of a Space License Agreement, which will be provided before entering the transition period.
- “Graduates” of the Student Incubator will be encouraged to stay within the Lennox Tech Enterprise Center, and become HTR client companies, to continue to receive coaching, mentoring, and incubation services. In such event, occupancy will be according to a separate agreement to be reached between the company and HTR.