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New Entrepreneurship Learning Community to Offer Housing Scholarships, Seed Capital Fund for Student Firms
Ames, Iowa -- Students who opt for the new Residential Entrepreneurship and Innovation Learning Community at Iowa State University will qualify for a housing scholarship and may have access to seed capital for student business creation or expansion.
Thomas Hill, vice president for student affairs and chair of the new entrepreneurship learning community, said the university will offer $35,000 in housing scholarship money to be awarded to the 35 individual members of the first entrepreneurship learning community group. Each student will receive $500 per semester.
The one-time housing scholarship funds are being provided to students in recognition of the leadership role they will play in the design and development of the new learning community.
A $25,000 seed capital fund also has been created to help entrepreneur learning community students to start their own businesses or to expand/enhance existing firms. Student participants will manage the seed capital fund.
"The seed capital fund allows this group of entrepreneurial students access to money that traditionally would not be open to them," Hill said. "Students face challenges in attracting traditional sources of business capital and funding. And, these student entrepreneurs will also have access to mentoring opportunities through the ISU Pappajohn Center to help them navigate the many issues new businesses face just to open their doors."
The residential learning community opens this fall and will be on the fifth floor of recently renovated Buchanan Hall. It will house undergraduate and graduate students together in single or double suites. It's the first residence at Iowa State designed for students who have either considered starting a business or may already be running one.
The deadline to apply for the Residential Entrepreneurship and Innovation Learning Community is May 1. Membership is limited. To apply, visit www.isupjcenter.org/ELC. Applications may be completed online or the form may be downloaded and delivered or mailed to the ISU Pappajohn Center, Attn: Judi Eyles, 2501 N. Loop Drive, Suite 1615, Ames, Iowa, 50010.
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