I am a graduate student. Can I still apply to this program?
Yes. The program is open to help any student with an entrepreneurial endeavor.
I am trying to limit my expenses for the summer and live a few hours away from State College. Can I live and work on my project from my hometown?
A key part of the program is having the teams and individuals live around the State College area. This will give you access to local mentors, resources, and other teams that are a part of the program. If you have a need for finding housing options, the program may be able to provide some suggestions on some inexpensive locations to rent or sublet.
I am a co-founder of a company based out of another University. Can I apply for the grant and work in State College while the rest of my team works at our main location?
An important aspect of the Summer Founders Program is that it is meant to help your team grow as you work throughout the summer time with other teams in the area who may be faced with similar challenges. We do not believe that having a situation where a majority of the team is split up and working from another location would work well for the program. We suggest on talking with your team to decide on it.
Is there any additional money available for extra funding if we expect our teams living costs to exceed the $10,000 grant?
Currently, there is no additional money that will be supplied in excess of the $10,000 grant.
What happens if I receive the grant and later receive an offer from an internship that I would rather accept?
This program offers a great opportunity and alternative to internships and other experiences. We expect that all grant recipients understand the commitment of the program throughout the application process and in accepting the offer to the program. We ask that you do not back out after you accept the offer to the program.
I am a senior this year and will not be a student during the summer. Can I still apply for the grant?
The money will be released towards the end of the school year, while you are still considered a student. Though you may no longer be a student after graduation, the grant was given to you with the understanding that you are a student entrepreneur looking for assistance in growing your idea. If that so happens to mean that you are a senior and ending your career at Penn State, we are certainly still glad to have you as a team involved with the program.
I have four members on my team, do we each receive $2,500 in our Bursar accounts?
Since this grants purpose is to not only help fund your living expense, but also expenses associated with the project we recommend you decide as a team how money should be allocated across the board. It is your decision on how you spend the 10k for the program, but we suggest you come up with a budget as you are going through the application process.