As a demonstration of their generosity and commitment to the excellent academic mission of Florida State University’s entrepreneurship program, Jan Moran and The Jim Moran Foundation have provided an annual gift to establish the Jim Moran Student Business Micro Grants program to support outstanding Florida State University undergraduate and graduate student businesses or nonprofit organizations.
Students from any college at Florida State University applying for the award must be engaged in entrepreneurial activities including, but not limited to, the Jim Moran School of Entrepreneurship programs as well as other campus entrepreneurial organizations or groups. This gift is to be awarded as a one-time opportunity—students are not eligible to receive more than one grant. The student(s) must have a minimum of 51% ownership in the venture.
Recipient Selection Criteria
Individual micro-grants up to $5,000 shall be awarded to undergraduate or graduate students currently enrolled in Florida State University from any discipline across campus. The grant money is to be used for a specific need for growth or improvement of an existing student business or to validate the market of a new business concept.
A selection committee will select grant recipients on a rolling basis as applications are entered.
Applicants will submit an application that includes the student business’s value proposition, what problem they are trying to solve, customer segments, customer relationships and channels, key partners, activities and resources, anticipated costs and revenues along with the student’s plan to use the grant funding to validate their assumptions about these areas. Those student businesses that have already been validated and launched will include a plan outlining how the grant funds will be used for a specific need that will enable the business to grow. Applicants must specify exactly what that need is and how the money will help.
A 2-3 minute video “pitch” must be included with the application. In the video, the student should describe the problem they are trying to solve, how their solution will solve that problem and why they think they have the ability to succeed (their background, skills and capabilities).
Applicants will meet with the JM Micro Grant Committee on the first Friday of every month at 10am in RBB 117 to go over their application and answer any questions. Applicants should come prepared with a 2-3 minute pitch and their financial needs statement. The first meeting will be September 1st, 2017.
Budget/Statement of Financial Need
The budget should be a descriptive essay providing a narrative with details of how the grant funding will be used to validate the market or scale a student business that has already been launched. The grant review committee should be able to read these quickly, as their use is simply to familiarize the committee members with the idea and how the grant funds will help validate or grow the student business. The budget should contain the current status of the idea (is it already up and running or is it still in the idea-only stage), a detailed breakdown of the needed funding and any other information the applicant deems necessary to finding success in their startup or growth.
The statement of financial need should include all anticipated expenses for which the business would require funding.
Grants will be awarded based on the committee’s assessment of the potential of the business proposed and the spirit of entrepreneurship displayed by the student business owner(s).