Are you a current UCLA student (undergrad of grad) or recent alumni who enjoys creating things? Seeing how far and fast you can take an idea? If so, why work for someone else’s company this coming summer when you can create your own? Startup UCLA’s Summer Accelerator is a ten-week program where UCLA students and recent alumni are provided $5,000, office space, and connections to industry professionals and mentors to work on their early-stage startup. Unlike most accelerators, Startup UCLA takes NO equity in your startup. The accelerator starts July 8, 2019 and finishes with a demo day on September 12, 2019. This is an amazing opportunity to create your business, learn from top entrepreneurs, investors and subject matter experts, and make long-lasting relationships with other Startup UCLA entrepreneurs and alumni!
The ideal candidate will have a passion and knowledge of a particular area, or be willing to work with the Startup UCLA team around a new idea that can be launched during the summer. While helpful, no startup experience is required – we are more concerned with your dedication and desire. You may or may not have other team members working with you, but ideally you have a co-founder that complements your particular skill set. We encourage balanced teams, which may include business, design, engineering and other disciplines. During the ten weeks, you’ll work with our expert team and guest mentors to refine your concept and (especially for existing businesses) determine new metrics for success. You’ll work alongside 8-9 other startups in the 2019 cohort comprised of high-caliber UCLA students, alumni, and their team members. Year-after-year, we find that one of the most valuable and enjoyable aspects of the program for the teams is collaborating, bouncing ideas off of, and challenging one another. The best work is done when the group (usually 15-20 people) is tight-knit, so we setup social events throughout the summer to encourage this. We also take a trip to Silicon Valley, where you’ll visit the offices of high-profile startups (we’ve visited Uber and Facebook in past years) and pitch in the offices of prominent venture capital firms (such as Lightspeed Venture Partners, Mithril Ventures, and Institutional Venture Partners). The accelerator culminates with a demo day at UCLA where you pitch to a crowd of hundreds and network with investors and alumni to further your startup.
Startup UCLA doesn’t end there though. As an alumni of the Summer Accelerator you’ll be part of an exclusive network of the more than 67 companies and 200 people who have gone through the program since 2012. Three Startup UCLA alumni companies are generating more than $1 million in revenue per year, three have been acquired, and nine have either received outside funding from the likes of Tim Draper, Steve Case, Marc Benioff, and Troy Carter or are profitable. Alumni of Startup UCLA have raised more than $2 million and gone on to work at Uber, Facebook, Google, and Bird, to name a few.
The Kirk and Huifen Dunn Entrepreneurial Seed Funding Prize
The Caufield Family Entrepreneurial Seed Funding Prize
The prize was established in 2017 with a generous gift from UCLA alumnus Frank Caufield and is awarded to a UCLA student or alumni led team for the development of a startup venture.
A proud Bruin and serial entrepreneur with a long personal and family history in Silicon Valley, Frank set up this award in order to help support students pursing their startup-up dreams. Paying forward the opportunity, support and kindness Frank received from his UCLA experience is the goal of this award.
- Work on your startup full-time in our co-working space from 7/8/19 – 9/12/19.
- Attend all of our evening events (usually on Mon/Tues/Wed). Weekly Fireside Chats, Skill Workshops.
- Participate in our Silicon Valley trip.
- Participate in Demo Day at UCLA on 9/12/19.
- Timely communication with the Startup UCLA staff.
- Incorporate feedback from the Startup UCLA staff when required (primarily regarding pitches and pitch decks).
- Mutually transparency. The Startup UCLA staff will be open and honest with you and require the same in return.
- Commit to the highest ethical standards. Uphold the True Bruin values.
- Stay involved with Startup UCLA and its alumni network after the accelerator.
- The team is at least 50% currently enrolled UCLA students (undergrad or grad) or recent alumni.
- The startup is at the product stage. You have either developed the prototype, beta, or launched.
- Startups that have not yet reached at least the prototype stage will not be considered.
- Be extremely passionate about your idea or entrepreneurship.
- Willingness to go above and beyond to provide great work.
- Superior communication and analytical skills.
- Self-starter/s with a strong desire to succeed and to grow personally and professionally.
- Thrive on receiving feedback and work well with others.
PERKS + BENEFITS
- $5,000 stipend per team.
- Co-working space alongside the other accepted teams.
- Meet and hear from top entrepreneurs, investors, and industry experts.
- Past classes have met entrepreneurs Natasha Case of Coolhaus and Brian Lee of The Honest Company; investors Lightspeed Venture Partners, Mithril, and Amplify.
- Industry experts in data science, social media advertising, company operations, and fundraising.
- $5,000 in Amazon Web Services credits.
- $20,000 in Google Cloud Platform credits.
- Complimentary legal guidance from a premiere law firm.
- Trips to Silicon Valley and Silicon Beach.
- Meals provided 2-3x/week during evening events.
All applicants must have met or meet with Deanna Evans, Keith Gibson, or Robert Jadon between September 1st, 2018 and April 6th, 2019. Schedule a meeting here. (We encourage applicants to schedule more than one meeting so that they can begin to implement feedback and execute on ideas developed during those meetings, but only one meeting is required.)
Please do not disclose to Startup UCLA any material that you believe is confidential or proprietary, or for which you expect to receive consideration or compensation in any form. By submitting material to Startup UCLA, you acknowledge that such material is neither confidential nor proprietary, and you waive the right to receive compensation of any kind for the material.
If you have any questions about the application or any of the above, please contact us at firstname.lastname@example.org.
· Opens January 1, 2019
· Deadline 11:59pm PT, April 7, 2019
· Interview/pitch round: April-May 2019
· Notifications of Acceptance: Late May 2019