No.

We encourage you to apply. We do not expect you to have a fully developed idea or an established venture. Successful applicants will exhibit big-picture thinking, problem identification, and value-creation.

Yes, if all Grant Criteria is met. Much of the program can be completed virtually, but to gain the most value from the program, participants will want to attend some events in person.

This includes any startups that focus on technologies or processes to advance services and health in clinical or consumer settings to ultimately improve patient outcomes. Some examples would include medical devices, consumer digital devices and apps, healthcare software or data systems, innovative treatments, and laboratory solutions.

This includes any startups focused on developing innovative technologies in the fields of semiconductors, artificial intelligence, or a combination of both. In the semiconductor realm, the startup might work on creating advanced materials, chips, and components that are essential for electronic devices, improving their efficiency, speed, and power consumption. In AI, the startup could focus on developing algorithms, software, and applications that enable machines to learn, reason, and make decisions, potentially revolutionizing industries like healthcare, finance, and manufacturing with intelligent automation and data analysis solutions. Combining both fields, the startup could work on hardware and software integrations, like AI-driven semiconductors, enhancing the capabilities of AI systems and the devices they operate on.

If a startup award application encompasses both the biomedical and semiconductor/AI domains, it would primarily be considered a biomedical startup. This categorization is based on the end-users and key stakeholders involved, who in this case, are within the biomedical sector. Essentially, the core focus of the startup's solution targets the biomedical industry, utilizing semiconductors or AI as a tool or technology to enhance or innovate within this specific field. The buyers, decision-makers, and direct beneficiaries of the startup's product or service would be entities or professionals in the biomedical space, such as healthcare providers, medical researchers, pharmaceutical companies, or hospitals. Therefore, despite the integration of semiconductors or AI technology, the startup's primary market and application are centered in the biomedical industry, defining its primary classification.

Mentors will be flexible with students, especially if you are taking classes. While it is up to the mentors to create a schedule with the grant recipients, you can expect 10-15 hours of work each week in the summer and fall.

No. the biomedical and semiconductor/AI are domains broadly defined, and eligibility is not limited to specific areas of study or degree programs.

No, however students who complete the program will gain valuable professional development, networking opportunities and experience.

• You will learn about the venturing process using the Lean Canvas framework.
• You will apply learnings towards the following:
• Identifying strengths, talents, and skills.
• Defining the problem your idea will solve.
• Analyzing your target market.
• Identifying your competition.
• Identifying potential funding opportunities.
• Outlining a sell strategy.
• Generating a business model.
• Creating a prototype.
• Defining success metrics.
• You will complete a combination of self-paced training and both in-person and virtual mentoring to teach you how to mature an idea and create a pitch deck.
• You will network and work closely with experienced mentors, angel investors, and entrepreneurs, and strengthen analytical and interpersonal skills.