Idea Transformation Fellowship Program

Overview

The Idea Transformation Fellowship Program provides funding and hands-on support to early stage startup companies, helping them get to the critical point where they can obtain follow-on funding or support themselves through earned revenue.

Transformation Fellowships are awarded for a period of up to one year, and funding can total up to $100,000. Our investments take the form of a convertible note.

During the Fellowship Program, our management team rolls up its sleeves and works side-by-side with you on your business. The individualized and hands-on nature of our services has become the hallmark of our work.

Fellowship participants benefit from:

Through a customized process tailored to your company’s unique needs, Idea Foundry’s seasoned management team will meet with you on a weekly basis and use our proven tools to help develop your business.		Funding can total up to $100,000 and can be used to cover any operating expenses. This helps pay the bills so you can concentrate on taking your business to the next level.		Idea Foundry provides a network of technical, commercial, and financial resources to assist you now and in the future.

Eligibility

1. Applications should be based on an idea for which necessary research has been completed and initial development has resulted in a prototype or detailed design specification. Less mature concepts are not a good fit for Idea Foundry’s model and will not fare as well.
2. Applicants should be prepared to reside in Western Pennsylvania, and they must intend for their company to be primarily based in Western Pennsylvania.
3. Participants must commit appropriate time resources for the development of their business during the Transformation Fellowship period and beyond.

How To Apply

1. We strongly recommend you schedule an initial meeting with us before applying. These meeting are informal and provide us with an opportunity to meet you and learn about your idea, as well as provide you with suggestions to strengthen your application and answer any questions you may have. To schedule one of these meetings, please contact Mary Beth Guzzetta, our Fellowship Evaluation Manager.
2. Download and complete the Application Form. The form is quite straightforward and should not take long to complete. If you encounter any difficulties, please let us know.
3. Submit your application. This is done in two steps, and both must be completed prior to the application deadline:
   1. The completed application form must be submitted (in Word or PDF format) electronically via email to mbguzzetta@ideafoundry.org or on disk via traditional delivery methods.
   2. One SIGNED paper copy of the application form or just the signature page of the application form must be submitted to the Idea Foundry office via traditional delivery methods to:
      
      Idea Foundry
      4551 Forbes Avenue, Suite 200
      Pittsburgh, PA 15213
4. Receipt of applications will only be acknowledged if requested.

If you have any questions, feel free to contact us by phone, fax, email, or you can arrange to talk directly with our Fellowship Evaluation Manager, Mary Beth Guzzetta.