How It Works

VentureForward is open to the entire UVA Engineering community, including faculty, post-docs, and students at all stages of venture development.

A team may be one person or a group of people.

A team should have a startup idea or potential startup that they are actively working on, or they want to begin working on.  All business models are welcome, including non-profit and commercialization of UVA research.  Technology ventures are strongly encouraged, though not explicitly required.  Preference will be given to ventures with the greatest societal impact. 

Faculty, graduate students, or staff who are interested in commercializing UVA research, you should reach out to UVA Licensing and Ventures Group.  If you do not know who to speak with, please contact engineering_ventures@virginia.edu.

VentureForward funding is a micro-grant. Teams must provide a budget, and funds are distributed as a reimbursement.  In many cases, VentureForward will work with your department to process reimbursements.  You must keep a detailed account and receipts for what you spend. 
 

If needed, VentureForward can make advanced purchases for teams against their budget.  This is reserved for situations when teams cannot purchase items up-front. 

Funded teams receive guidance from experienced mentors to help them move their ideas forward. Funded teams are expected to meet with mentoring teams approximately once a month and regularly attend workshops/translational research seminars hosted by the School.  There is flexibility but the goal is to help advance a project, for example, if a student is taking relevant course work (but friendly reminder that the project cannot be from class).  

A team should pursue one idea per application.

Teams may apply for multiple cohorts, assuming they meet their milestones teams making meaningful progress.  There are two planned cohorts for 2024-2025, one in Fall and one in Spring.  

A team’s total external investment funding cannot exceed $50,000. Teams must disclose all other sources of funding, from both investors and grant/non-dilutive sources.

This is a great question!  There are some wonderful resources through UVA Innovates, with links to clubs and programs on Grounds.  But if you are keen on using or developing your skills towards a startup, but do not have a project, email engineering_ventures@virginia.edu.

Look forward to hearing from you!