ELIGIBILITY GUIDELINES

Team Composition

• 1-5 members

• members must be enrolled full-time at a participating institution (see also institutional contacts or check eligibility)

 

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