Small grants for student-based ventures.
Mr. Bob Buhrmaster ’69, friend of the Lally School and member of its advisory council, and his wife Maureen, have given a gift that enables the Severino Center to offer small grants to help student-based ventures test the market feasibility of their business concepts. Grant amounts are $1,000-$2,000, and are determined by the Director of the Severino Center.
- Student teams should send a letter of request to Professor Gina O’Connor at SCTE@rpi.edu, indicating how they plan to use the money to aid in their market learning.
- “Testing market acceptability of the concept” may be interpreted broadly to include, but not be limited to activities such as technical tests to ensure that the technology meets the requirements that the market has specified as valuable, attending trade shows or appropriate conferences, running focus groups or traveling to visit key customers or other market agents.
- The memo need not be long, but it should clarify a couple of market questions you want to answer and how you’ll use the money to get the answers. It should also include a date by when you plan to have spent the money.
Once the grant has been awarded and the money spent, a short report indicating what the team has learned and how it has impacted their venture is required, along with a thank you note addressed to Mr. Buhrmaster. Both should be filed with the Severino Center, and will be forward to Mr. Buhrmaster.