Impact Innovations Fellowship

The Impact Innovation Transformation Fellowship Program is designed for early stage companies which generate impact through the disruptive nature of innovation to actuate growth and prepare startups for continuing investment.

Applications open:
Application deadline:

The Impact Innovation Transformation Fellowship Program provides funding and support to develop early stage commercially viable businesses to the point where they can be attractive to other funders or generate revenues.  During the Program, participants work with Idea Foundry’s seasoned management team, who have deep expertise in launching organizations as well as commercial business experience, and our advisors, which include seasoned business executives and leaders.  An individual participant in the program receives up to $25,000 in cash and $25,000 in program services.

These business development services are customized for each participant and generally provided for up to 6 months. We also utilize our network of technical, commercial, and financial resources to assist you now and in the future.

In addition to the services, up to $25,000 in cash funding will be spent on resources used in developing the idea from a commercial perspective i.e. equipment, legal fees, etc. as required for development.

Focus areas

Since inception, Idea Foundry has been operating a unique Accelerator model which is today encompassed under the Impact Innovations brand. Our focus areas have evolved with the changing needs and priorities of the region. While the innovations we work with address specific and often complex problems, they create an impact in areas which are basic societal necessities.

Economy

Education

Environment

Food and Agriculture

Health

Safety & Security

Eligibility requirements

  1. Applications based on a formulated Idea for which necessary research has been completed and initial development has resulted in a commercial prototype or minimally viable product are preferable to less mature concepts as they better fit Idea Foundry’s model during this awarding program.
  2. Candidates for the Program will stem from academic and research staff, postgraduates, graduates and undergraduates and from corporate and local communities.
  3. Individual applicants should either reside in or be prepared to reside in Pennsylvania and the company must be based in Pennsylvania.
  4. Applicants must have the intent that the company will remain based in Pennsylvania.
  5. Applicants must be willing to commit to working within the guidelines of the Program for the length of the Program.
  6. Each applicant (or an individual identified prior to awarding the Transformation Fellowship) must commit appropriate time resources for the development of his or her Idea during the Program and beyond.

How to apply

  1. Idea Foundry accepts inquiries for the Impact Innovations Fellowship on a rolling basis throughout the year.
  2. Please reach out to us through the Inquire form with a brief description of your idea and needs. Our staff will get back to you to you on whether to schedule a Vetting Meeting with us.
  3. Only if you have completed a Vetting Meeting and you are advised at the end of that meeting to submit an application should you proceed with the remaining steps.
  4. Each team member must fill out a Startup Team Member Profile so that we can collect resumes/CVs, contact information, and other information to help us understand you better.
  5. If your business's commercial entity has already been formed, please fill out a Startup Profile.
  6. Complete and submit the Impact Innovations Application.
  7. Idea Foundry conducts multiple rounds of evaluation over the course of approximately 2-4 weeks, which includes due diligence on the company, to identify applications that express appropriate ideas and market focus, are adequately completed, and are otherwise eligible to continue in the process. We take into consideration the disruptiveness, feasibility, and impact of the business. Our staff will be in contact with applicants throughout the application process to notify them of their progress.

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