Past Recipients: November 2004
The committee received seven proposals which requested a total of $65,204. It provided at least partial funding for five of those, with awards totaling $22,004 (and the possibility that one recipient could receive an additional $8,500 if certain conditions were met).
Funds administered through the Center for Entrepreneurship and the Liberal Arts
One of these awards was for the University Center for Entrepreneurship and the Liberal Arts (which is funded primarily by a Kauffmann Foundation grant) to provide up to $7000 to undergraduate students for Internet and e-commerce internships during the summer of 2005. These internships were designed to place students with entrepreneurial companies (with the grant paying the student’s salary). They were organized in ways that allowed students to gain a greater understanding of the processes and issues related to technology based ventures, especially the integration of technology and business principles. Of the $7000 total, $4500 was to be divided among three students and the $2500 balance was to pay a faculty member’s stipend for developing and supervising the project. Information about the University Center for Entrepreneurship and the Liberal Arts can be found at http://www.wfu.edu/organizations/entrepreneurship.
Start-up Funds for Student Companies
Art Internet Web site Development -- $8,904 award
Rebecca Boswell, an undergraduate Art student, sought funds to increase the exposure and accessibility of her ongoing art career by developing an Internet website for information distribution, portfolio presentation, and art sales. She also sought to create a website that was, in and of itself, an artistic venture. One unique aspect of her project is the development of a “work in progress” section which shows progressive stages of her paintings.
E-Conferencing Business Model -- $3100
Undergraduate business students Dustin Smith and Todd Cullen planned to provide a complete online conferencing solution for organizations. Their initial target audiences were academic and student organizations at Wake Forest. The students asked for $10,000 in funding but received $3100 and the encouragement to refine their concept and resubmit a proposal.
Parking Revolution -- $1500
Second-year MBA students Will Copenhaver and Brennan Anderson submitted a $10,000 request for a company which sought to apply an online auction model to the problem of parking distribution. The funding was to provide for the design and construction of a website with database, auction, and geographic search functionality. The committee thought the idea had merit but needed further refinement. The $1500 award was provided to encourage the young entrepreneurs to keep researching the business concept and come back with a second proposal.
NetAir -- $1500 to $10,000
First-year MBA student Leno Rainero submitted a $10,000 request for a wireless infrastructure project to provide high speed Internet to rural communities. The committee felt the idea had merit and asked Rainero to talk with University CIO Jay Dominick, a member of the Chambers Fund committee, and refine his proposal. The committee gave Mr. Dominick the authority to increase the award from $1500 to $10,000 if he believed the refined business plan had adequate merit.
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