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New Venture Entrepreneurship Funding Application

Social Impact Entrepreneurship Funding is intended to enable student social entrepreneurs to propel their ventures forward by providing financial support for social impact startups, pilot/prototype funding, executive shadowing, and field & market research. It covers 80% of approved eligible expenses, up to a maximum of $5000/quarter. All ventures must be approved by the Social Impact Department before participating in the program. ------------------------------------------------------------- Will this funding work for my venture? ๐ŸŒฑ What qualifies as a social impact venture? Not all pro-social ventures are social impact. The venture should be primarily focused on a systemic societal challenge or an underserved population. ๐Ÿ’ธ What expenses don't qualify? We don't cover expenses associated with food and alcohol, travel costs for a normal commute between home and school, and capital equipment such as computers and office space. Labor is rarely an allowable expense. When allowable, the labor in question must be temporary in nature and dedicated to discrete venture-building projects rather than the core operation of the business. For a full list of restrictions review the full program policy: https://kell.gg/4py. ๐Ÿงพ How should I expect to be reimbursed? You will prepare and submit a proposed itemized budget using our spreadsheet template. We expect you to aggressively pursue cost savings and will ask you to submit again if we think costs can be lower. We cover 80% of expenses, and will tell you how much you are approved for in your approval letter. At the end of the quarter, you will resubmit with your actual budget and corresponding receipts in order to be reimbursed. ------------------------------------------------------------- Overview of the Funding Process 1. Apply once for your venture to be accepted into the program. 2. After you are accepted, each quarter you will submit a projected budget for approval. These budgets must be submitted in the beginning of the respective quarter. 3. After our team reviews your budget, you will receive approval via email at a specific expense level. 4. During the quarter, save all receipts for expenses (must show amount, date, name and how it was paid per NU auditor requirements). 5. After the quarter is over, use the reporting link in your approval email to submit receipts, an updated budget spreadsheet with actual expenses, and a short narrative report. 6. Receive a Northwestern expense report via email to sign and return. 7. Receive a reimbursement check in the mail.

-------------------------------------------------------------------- To start, we need some basic details about who you are. --------------------------------------------------------------------
    Kellogg Program
    Kellogg Graduation Year
    -------------------------------------------------------------------- Now, tell us about the venture you hope to be reimbursed for: --------------------------------------------------------------------
      List any prior names for this venture as well.
      Year and month, if known.
      If so, who are they?
      Provide a brief description of your venture.
      • {name}
      Summarize your venture's mission, model and current stage.
      Be sure to explain the social impact of your venture.


      Describe the typical consumer your venture serves.
      • {name}
      Summary of Activities and Expenses
      Help us to understand the vision you have for Project Impact funding by summarizing the activities and related expenses you plan to use these funds for. How will these activities contribute to your social impact experience and academic learning at Kellogg? How will this funding help to further your work on your venture? (We do not need a line item budget at this time.)


      Please share an overview of your implementation timeline for this phase of your venture.


      Tell us about cost-saving measures you employ when considering your expenses.


      Upload any supplementary documents you feel could support your application.
      Note - if you would like to upload multiple documents, you will need to upload them in zip file format.
      Attach file
      Drop files here
      Use this space to add any additional comments to support your application.


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