Johns Hopkins University has launched a new, annual award to support promising business ventures developed by student entrepreneurs—and to encourage the creators of those startups to put down roots and grow in Baltimore.
The President's Venture Fellowship, by far the largest award for student entrepreneurship ever offered by the university, is open to any full-time Johns Hopkins student, undergraduate or graduate, who seeks to continue pursuing a business venture in Baltimore after graduation. Up to two winners will be selected annually to receive a $100,000 award, with the lead of each venture also receiving a $40,000 salary stipend.
Funding for the award comes from the Office of the President and from generous philanthropic alumni support.
"As Johns Hopkins has developed an innovation ecosystem over the past decade, I have watched hundreds of our student entrepreneurs take brilliant ideas born in labs and classrooms and transform them into flourishing startups," JHU President Ron Daniels says. "This new award will help these businesses stay in Baltimore where they can continue to grow and support our city."
The President's Venture Fellowship is designed to support student teams that have made significant traction on campus and have a clear plan for growing their venture in Baltimore after graduation.
"This award is the latest addition to a robust continuum of campus funding for Johns Hopkins student entrepreneurs," says Josh Ambrose, director of student ventures at FastForward U. "For teams that show tremendous promise and demonstrate impact, this provides post-graduation funding to sustain momentum."
Winning teams will have access to co-working space at the university's FastForward U student innovation hub in the Remington neighborhood and may also be eligible for bench space in FastForward labs. Fellows will also receive mentoring from university leaders and alumni who have launched successful business ventures.
Applications are due by April 26. Finalists will be interviewed and winners will be announced in May.
More information about this award and other resources for student entrepreneurs is available on the FastForward U website.