The next Startup Sprint will take place in from January 12-22, 2021, and applications are due on November 16th by 6pm. The program runs all day, Monday through Friday each day. PLEASE NOTE: This program is NOT for credit. However, (just like a startup) it REQUIRES a full-time commitment during the program.
What You Can Expect
Teams can expect to start off running with:
- Coaching: Led by the NYU Entrepreneurial Institute's own team of startup experts, you will meet willing and knowledgeable coaches who will push the limits of your business idea and challenge you to become the best founder you can be.
- Workshops: Led by experts from theInstitute and the NYC startup community. You and your team will learn through a hands-on approach, and immediately apply what you learn.
- Founder talks: Learn from those who have been in your shoes. Derive insights from their stories and ask them all your questions!
- Customers: Get to know your target customers by “getting out of the building” and talking directly to prospective users, buyers and partners. We expect you to lead at least 50 interviews during the course of the program (and some past teams have done over 100 in past Sprints!).
- Connections: You will meet with venture capitalists, learn about accelerators, and more.
- Experimentation: You will learn how to create and run experiments to inform your prototypes and minimum viable products (MVPs).
- Community: Work alongside (and learn from!) a diverse community of NYU startup founders who are going through this process just like you!
Benefits You'll Receive
Each team will receive funding and perks to put toward their business venture, including:
- Funding: $1,000 at the start of the program and eligibility for up to $1,500 in follow-on funding. All funding is offered in the form of reimbursement for customer discovery and prototyping-related expenses.
- Perks: $5,000 in Amazon Web Services credits
- Legal Advice: Legal advice from Fenwick & West LLP
- Coaching: Dedicated coaching with members of the NYU Entrepreneurial Institute coaching team
- Preferred Office Hours: With VCs, accountants and Entrepreneurs in Residence, after the program - perks ONLY available to Sprint and Summer Launchpad participants
- Ignite Fellowship: Top teams from each cohort will be invited to participate in the Ignite Fellowship for the semester following the sprint. The Fellowship provides your team with continued peer and coaching support, as well as access to further expert talks from external mentors.
- Food: A light breakfast and full lunch will be provided on most days.
- Workspace: 24h access to co-working space at the Leslie eLab during the duration of the program, so you can meet, focus, and get that startup off the ground!
- Summer Launchpad Interview: At least one team will be invited to apply early for and potentially to be accepted early into the NYU Summer Launchpad nine-week long accelerator.
Who It's For
The Startup Sprint is open to teams with at least NYU student (grad or undergrad), faculty or researcher founder from any NYU school or college, with an idea, invention and/or early mock-up or prototype of their product or service. Preference will be given to teams with at least one STEM co-founder who is female or another underrepresented minority in tech/startups.
- Team: Your team should consist of 2 or more entrepreneurs able to participate full time in the program, with at least 1 team member currently at NYU.
- Commitment: You must be committed to your startup full-time (40+ hours per week) for the duration of the two-week program. You must also be passionate about the problem you hope to solve, with the expectation that you’ll continue to work on your startup after the program ends.
- Buy-In: You understand the requirements of the program and are open to the possibility of pivoting your idea based on feedback from potential customers—we call this customer development.
- Hustle: Show us that your team has what it takes to start a startup by meeting with us for a coaching appointment and attending a Startup Bootcamp at the Leslie eLab in advance of applying. Taking these actions will show us your commitment and passion, and will greatly increase your chances of getting into the program. Get started today!
Selection Criteria
We give strong preference to teams who have completed a Startup Bootcamp at the Leslie eLab. Apply to a Startup Bootcamp today to let us get to know you!
A few additional criteria about your team will determine the final selection:
- Timing: We give preference to teams with at least 1 team member who plans to graduate within the next two years.
- Diversity: We give preference to teams with at least 1 female or minority co-founder in STEM.
- STEM: We give some preference to teams with STEM-centered solutions (Science, Technology, Engineering, and Math).
- Coaching & Bootcamp: We prefer to accept teams who have received coaching from the Entrepreneurial Institute team (sign up for a coaching appointment here) AND preference to teams who have completed a Startup Bootcamp at the Leslie eLab. Apply to a Startup Bootcamp today to let us get to know you (and so you can get to know us)!
- Team Fit: Does your team have the skills and background to build and launch what you plan to create?
- Program Fit: Are at least two members of the founding team ready and willing to work hard and interview 50 prospective customers during the two-week program (and to making this a full time commitment during that period)? Are you clearly open to coaching, community and learning?
We also take into consideration how you answer the following questions about your venture:
- Problem Identification: Are you solving a meaningful problem and how well does your team understand the problem you hope to solve and the customer segment/market you plan to address with your venture?
- Idea & Competition: What is your idea and is it novel and/or a radical improvement over existing solutions?
- Milestones: What progress on your venture have you made so far - what have you done/created?
- Scalability: Does your venture have the ability to scale? What might be the potential impact and/or market opportunity of your venture at scale?
