ELIGIBILITY GUIDELINES

Team Composition

 

Student-Venture Ownership & Control

  • team members must collectively own ≥ 20% of total equity (if allocated)

  • team members must control ≥ 51% of voting rights

 

Revenue Generation

  • minimal revenue generation allowed

  • excessive revenues will be evaluated on a case-by-case basis by the WVIBMC

 

External Investment

  • no more than $100,000 will be allowed

  • sources: friends/family, debt, equity investments and accelerators

 

Type of Venture - ventures cannot be:

  • a buyout

  • an expansion of an existing company

  • a real estate syndication

  • a tax shelter

  • a franchise or licensing agreement

  • a spin-out from an existing corporation