Vogt Awards Selection Criteria
Accepting 2017 Applications April 5 – May 31,2017
The Vogt Awards provide funding, resources and recognition to entrepreneurs with products in the early growth stage. Vogt Award recipients are chosen from early-stage entrepreneurs in the Louisville area, that have the potential to create a scalable business based on innovative, technology-based products that they develop themselves.
“The Vogt Awards is made possible by the Vogt Invention and Innovation Fund at the Community Foundation of Louisville. The Fund was established by Mr. Henry Vogt Heuser Sr. in 1999 in order to help start-up ideas, products, and projects develop into viable and successful businesses that will provide economic growth, stability, and employment for the greater Louisville area (including Southern Indiana). Therefore, the Vogt Awards Selection Committee will select companies that offer the greatest potential for regional economic impact.” – Community Foundation of Louisville
Criteria – Mandatory
- Business headquartered in the 13-county Louisville MSA
- Indiana – Clark, Floyd, Washington, Scott, Harrison
- Kentucky -Bullitt, Henry, Jefferson, Meade, Oldham, Shelby, Spencer, Trimble
- Developing an innovative, technology-based product (need not be tangible product)
- Early-stage business
- Lifetime revenue cap of $50K
- Lifetime funding cap of $500K (this includes SBIR and other non-dilutive forms of funding, but excludes co-founders personal investments)
- Independent business, not a subsidiary or corporate spinout
Criteria – Strong Preference For
- A team of active founders, not a solo founder
- A full-time effort, not a side project
- Intellectual property that is protected or protectable
- A business model that can scale significantly – revenues that can grow exponentially, along with increasingly improving profitability
- A product that doesn’t require a long regulatory approval cycle (for example, no companies working on a new drug)
- No previous accelerator experience
Requirements: If you receive grant, you must agree to:
- ALL Thursdays, lunch through evening, without fail, from start in September to end in November. See Program Schedule for more information.
- Extra time during work week, in business hours, to work on your company.
- Attend press conferences and other public events; participate in Vogt Demo Day.
- Attend lean startup training (LaunchIt) (three hours/week, 10 weeks, in the evening).
- Attend EnterpriseCorp Vogt Program courses (two hours/week mid-day, 11 weeks).
- Attend a 1:1 coaching session with EnterpriseCorp staff and mentors (one hour/week).
The “Fine Print”
- The decision of the Vogt Awards selection committee is final. The committee cannot reconsider applications that have been denied in the current application cycle.
What you can win:
- Up to 6 entrepreneurs will receive $25,000 in non-dilutive funding
- Each grant recipient will receive lean startup training, mentoring, and have access to prototyping services.
How you can use the funding:
- You will work with GLI’s EnterpriseCorp to create a budget and a commercialization plan. Funds may be used for product development, marketing and other expenses.
- The funds cannot be used to pay down debt.
- The funds will be delivered in tranches.