National Science Foundation I-Corps Site
The NSF awarded Invent Penn State I-Corps Site status and $500,000 in September 2017 to support entrepreneurship training and microgrants for university-related startups.
Participants may qualify for I-Corps national team and $50,000
The Invent Penn State I-Corps Site provides microgrants, commercialization training and mentorship for up to 30 startup teams per year. These “boot camp” style trainings help inventors begin customer discovery, learn about the commercialization process, network with experienced entrepreneurs and determine if markets exist for their innovation. The benefits are numerous.
- Receive a micogrant of up to $3,000, which can be used to attend industry trade shows, visit potential customers, develop prototypes and cover customer discovery expenses.
- Have a dedicated mentor who meets with teams to provide business expertise, advise on pitch development and funding strategies, and help grow a network of contacts.
- Have priority opportunities to showcase their new venture at the Invent Penn State Venture & IP Conference on April 19 & 20, 2018.
- Become eligible to apply for an I-Corps National Teams $50,000 grant award. (This is an alternate National Teams eligibility path for PI’s who have not previously received NSF funding.)
- Qualify for an increasing number of NSF grant awards that require NSF I-Corps training as a criteria for eligibility.
I-Corps funding is designed to assist teams in performing customer discovery. This generally includes interacting 1-on-1, in person, with potential customers to better understand their needs and challenges, and to validate assumptions about your target market. Allowed expenses include:
- Travel expenses, trade shows and conference registrations or other meetings designed to directly interact with potential clients or experts in your market.
- Modest amounts of equipment or materials (no more than 50% of your total expenses) needed to fabricate physical prototypes to be tested with real customers. Prototypes are defined as first, or preliminary-stage models, built to test a concept or process after your first 30 customer interviews are complete.
- Modest digital prototyping infrastructure (no more than 50% of your total expenses) such as AWS subscriptions needed to test prototypes with real customers—can only be done after your first 30 customer interviews are complete.
How to Apply
Faculty, staff, graduate and undergraduate students, recent alumni and community members interested in exploring the commercial viability of their idea or innovation can apply to one of a number of established boot camps based on the lean startup and customer discovery methods endorsed by NSF I-Corps.
Altoona, Altoona LaunchBox. Altoona LaunchBox engages future business owners and local entrepreneurs to explore their start-up business ideas and get feedback on challenges they face. Also offers an 8 week training program for selected startups.
Reading, Penn State Berks Idea Test Lab. Located in the Flemming Creativity, Entrepreneurship and Economic Development (CEED) Center, is a 6-week accelerator program to advance early stage STEM- related innovations.
State College, Ben Franklin TechCelerator. Located in Innovation Park, specializes in commercialization support for university research-derived technologies in complex, often regulated, markets.
State College, Happy Valley LaunchBox. Located on Allen Street in downtown State College, Happy Valley LaunchBox specializes in support for early-stage, scalable startups focused on emerging markets, digital innovations or novel business models.
New Kensington, Penn State New Kensington Idea TestLab. Located in the Corridor of Innovation in downtown New Kensington, the 4-session Idea TestLab helps you get a better handle on what problem your customer really has, where they hang out, and what value you can provide that others can’t.
- Penn State faculty, graduate students, undergraduate students, staff and recent alumni are eligible to apply.
- Eligible projects must be in a science, technology, engineering or mathematics (STEM) discipline.
- Teams should have three people:
- An academic lead who will serve as Principal Investigator (PI)—typically a PSU faculty or staff member
- An entrepreneurial lead—a student, faculty/staff, recent alumni or community member
- A business mentor—to provide an experienced perspective to the team. Mentors will be assigned if needed.
- Teams must attend workshops and cohort meetings. Please check program details for more information on the associate time commitment.
- Teams must perform a minimum of 30 customer interviews by the end of the program.
The top entrepreneurial Penn State teams are selected each year to participate in the NSF I-Corps program. Each team receive up to $3,000 for use to attend industry trade shows, visit potential customers, develop prototypes and cover customer discovery expenses.
About the National Program
I-Corps™ is a national science foundation initiative to increase the economic impact of research it has funded.
The I-Corps™ program was created by the NSF in 2011 to help move academic research it has funded to market. Through a dynamic collaboration with VentureWell, the NSF offers select participants from US academic laboratories the opportunity to participate in a special, accelerated version of Stanford University’s Lean LaunchPad course. This revolutionary course engages participants in moving products out of the lab and into the market by talking to potential customers, partners and competitors and encountering the challenges and uncertainty of creating successful innovations.
The I-Corps™ environment is fast-paced and rigorous; teams are pushed, challenged, and questioned in the hope that they will learn quickly whether or not their ideas are worth pursuing. Teams are expected to complete at least ten customer interviews a week, which means that over the ten-week course teams have contact with 100 potential customers.
The teams—composed of academic researchers, student entrepreneurs and business mentors—participate in the curriculum via online instruction and on-site activities through one of several I-Corps™ Nodes. I-Corps™ Sites catalyze additional groups to explore potential I-Corps™ Team projects and other entrepreneurial opportunities that build on academic research.
The team's mentor, Tim Hurley, left; mechanical engineering doctoral students Nan Sun, Birgitt Boschitsch and Jing Wang; and Tak-Sing Wong, assistant professor of mechanical engineering.