President Armstrong launches venture to support students’ entrepreneurship
Recently, Broward College announced the launch of a student venture by BC President J. David Armstrong, Jr., which will fund students and graduates’ entrepreneurial endeavors.
BCEduventures Inc., BC’s business venture unit, in coordination with the Innovation Hub, will manage the venture, which will provide seed funding for entrepreneurial projects of graduates of the Startup Now Accelerator Program.
Completion of Startup Now is required to qualify for the grant. During the six-month program, which takes students on a four-stage business journey, from boot camp to launch, students must prove their product’s worth, demand, and more.
Armstrong has personally contributed $100,000 to the program.
“My vision for this fund is that we will grow our next generation of Broward County entrepreneurs through mentorship and support of our outstanding and diverse student population and future business leaders,” he said.
The fund has received over $250,000 in donations from various community leaders, businesses, and organizations. The fundraising goal is currently set at $500,000 by May 31 of the current year.
The College hopes to award grants of $50,000 to an estimated 20 students per year.
“Funds will be awarded to students who have an innovative idea for starting a business in technology, in any of the financial, healthcare, social networking, gaming, aviation, and advanced manufacturing sectors,” said BC in a press release.
A Seahawk Pitch Day will be held in May to kick-off the funds giving.
“With the creation of this fund, the Innovation Hub comes full circle from its start three years ago, having built the physical infrastructure our entrepreneurs need, having surrounded it by the human component to run our programs and provide world class mentoring, and now having the opportunity to provide the risk capital to fuel the companies we have helped launch,” said Erique Triay, director of the Innovation Hub.