By the Lassonde Institute
Need cash to get your business idea off the ground? Or do you like watching others pitch their ideas? Then you must participate in our monthly Get Seeded program sponsored by Zions Bank. More than $100,000 in grants are available this year (it’s free money, people!). All students are welcome to enter your ideas, and the public is invited to watch.
“I frequently encounter students who believe that they could never turn their idea into a business,” said Ryan Ferrin, an MBA student and current Get Seeded chair. “Of course this is not true, all great businesses began as an idea. In fact, the primary purpose of the Get Seeded program is to empower students with the tools necessary to transform their ideas into great businesses.”
The Get Seeded program is a student-managed fund devoted to developing student businesses. If you have a business idea and need funding to develop it further, then the Get Seeded program is an invaluable resource. The program does not take equity nor does it require students to repay the grants. While there is no requirement for monetary repayments, students are expected and encouraged to share their experiences with other student entrepreneurs.
The Get Seeded program provides unparalleled funding for student business development. During the 2014-2015 school year alone, more than $103,000 was given to students. In total, 114 teams consisting of 200 students from universities around the state applied for grants. Of those teams, 67 were invited to pitch. Ultimately, 48 teams won grants averaging $2,100 to reach their business milestones last year.
“I have learned an unbelievably large amount about entrepreneurship just from watching the Get Seeded events,” said Lance Brown, a student who attended many of last year’s events. “You learn about new technologies, business law, pitch technique and you even learn the best ways to answer the hard questions asked of entrepreneurs.”
After completing the application process and being invited to pitch at the get Seeded event, students have several minutes to present their ideas to an audience. The pitch is followed by a Q&A from the audience. Then the audience votes on which ideas should receive funding.
Apply for Get Seeded and learn more at lassonde.utah.edu/getseeded.