startup acceleration

During the first six months, Fellows will be required to commit to 20 hours per week. The second six months will be dedicated to the Fellows transforming their business concept into a company. As such, the Fellows will be expected to work on their proposed project full time.

While students who are enrolled full time may apply to the Fellowship, bear in mind the time commitment of a minimum of 20 hours per week for the first six months is a condition for funding. In addition, the Fellow should be able to devote full time efforts towards their startup for the final six months of the program. In some cases PhD students or Post Docs who have completed course work requirements may have adequate time to devote to this effort, but those students carrying a full load may not have the time to complete fellowship requirements.

All Fellows must be authorized to work in the U.S. for the duration of the Fellowship. Applicants who are foreign nationals need to explain their plans for validating their ability to satisfy this requirement by the start of the program. The Science Center cannot hold, sponsor or petition for Fellow work visas.

The Founders Fellowship is focused on providing an economic opportunity to explore a STEM related business concept. Fellows will be provided the $50,000 award as a monthly stipend broken into equal payments directly to the fellow over a 12 month period.

At this time we are unable to provide health insurance or other benefits to Founders Fellowship participants.

The Science Center doesn’t charge any fees or take any equity in the Fellow’s startup company. Our Founders Fellowship program is an element of our nonprofit mission to power progress that advances healthcare innovation, uplifts communities, and improves lives. The Fellowship is designed to provide business development support and a one-year stipend for eligible academic researchers who are developing life science and healthcare technologies with high commercial potential.

It is not uncommon, though, for founders to find ways to give back to the community and we are happy to discuss opportunities as appropriate.

Fellows will retain ownership of any IP they bring into the program. During the Company Building phase, the Fellows will be tasked with executing licensing agreements with their home institution for any IP that is owned by the institution. In either case, the Science Center will not claim any ownership rights over Fellows’ IP.

The Fellowship will be paid out monthly and Fellows will be paid as a "contractor" on a 1099 basis for the year.