Accelerator Program

Eligibility Requirements

• Must be a current student at Illinois State University (Full-Time or Part-Time)
• Open to both undergraduate and graduate students
• In order to be considered, applicants must complete the formal application process outlined below.
• Must not have received more than $20,000 in outside funding prior to applying to program
• Business model must be original in nature. (No franchising opportunities or replica of already established business)
• Business must already be started, and ready to take the next steps for growth

General Guidelines of Program

Awarded amounts will vary based on needs assessment, but will generally be limited to a maximum amount of $5,000 per student (or student entity, such as a partnership or LLC).

• Any awards must be spent within one calendar year from the award date
• All applicants and award recipients must follow procedural guidelines set forth by the Means Center and Illinois State University

Students admitted to the program give permission to the Means Center and Illinois State University to share information for publication. Examples include (but are not limited to):

• Sharing of Business name (and/or business website) on Means Center Social Media pages to promote any progress made by the student business
• Inclusion of business name in our annual entrepreneurship reports through ISTC

Any funding awarded to student entrepreneurs will NOT be in any form of cash payment. All financial support will be paid either directly to vendors on the student’s behalf, or a reimbursement will be issued to the student with submission of an original invoice billable to the student business and proof that payment has been made in full.

Illinois State University is an agency of the State of Illinois and is exempt from payment of Illinois Sales Taxes on purchased goods and services. Therefore, any sales tax included in purchase requests will not be paid by the university and will be the sole responsibility of the student.