The University of Memphis’ Crews Center for Entrepreneurship launched the Crews Center Catalyst (C3) Seed Fund over the summer. The fund incentivizes individual student and faculty entrepreneurs to form startup teams for the commercialization of ideas, devices, processes or other intellectual activities.
“The UofM is committed to encouraging innovative and creative thinking,” said Dr. Jasbir Dhaliwal, the UofM’s Chief Innovation Officer. “And the Crews Center is the University’s hub for turning ideas into the foundation for successful startup companies.”
John Bobango (JD ’83), chair of the Crews Center advisory council, added, “Establishing the C3 Seed Fund was the natural next step for the Crews Center. We have an outstanding facility that is the nerve center for entrepreneurship on campus. This fund will take entrepreneurship activity at the UofM to another level.”
In addition to receiving funding, entrepreneurs are assigned a mentor and have access to the staff and resources of the Crews Center. Mike Hoffmeyer, Director of the Crews Center, said, “The goals for the C3 seed fund are to increase engagement of students and faculty in entrepreneurial activities, and to increase the number of UofM startups teams that are pursuing commercialization projects. We are committed to providing the support the entrepreneurs need to keep their ventures on track.”
Plans are accepted and reviewed by the selection committee on a rolling basis. Awards of up to $3,000 or more are made to individuals or teams that include at least one current UofM student or faculty member. The size of the awards vary based on whether the proposed project is an idea that needs further research or a developed business model that has already been vetted.
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