Published: February 3, 2016
WEST LAFAYETTE, Ind. – Nearly $15,000 will be invested into Purdue University student entrepreneurs who place in the top five teams of the eight-week startup competition The Boiler: Purdue Mini-Accelerator Competition, or the Boiler.
Applications for the Boiler are due by 11:59 p.m. Feb. 15 and the competition will begin on Feb. 22. All Purdue students are eligible to compete, as well as graduates of up to two years. Applications can be found at www.bit.ly/boiler-application.
The Boiler is a seed accelerator competition hosted by the Anvil, a student operated business incubator at Purdue. The competition started in 2013 and aims to enable students to pursue entrepreneurship activities outside of the classroom.
The five teams accepted through the initial pitch round each receive $500 upon acceptance. The three teams that move on to the second phase receive $1,000 each, and on Demo Day first-, second- and third-place teams will receive $5,000, $3,000 and $1,000, respectively.
Shane DeWael, director of the Anvil, said that monetary prizes aren't the only way participants will benefit.
"The biggest benefits for Boiler participants are mentorship and guidance that enable participants to gain business knowledge and grow networks that will grow their business and personal development," DeWael said.
The teams will be provided with office space, workshops and funding throughout the competition as well as an opportunity to receive professional advice and business development strategies from entrepreneurial experts and from the Purdue Foundry, a startup resource center in Discovery Park's Burton D. Morgan Center for Entrepreneurship.
About Purdue Foundry
The Purdue Foundry is an entrepreneurship and commercialization hub in Discovery Park's Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. Managed by the Purdue Research Foundation, the Purdue Foundry received the 2014 Incubator Network of the Year by the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at email@example.com
About the Anvil
The Anvil is a community co-working space at Purdue University that serves the unique needs of passionate students, acting as the center of creative culture in West Lafayette. The Anvil focuses on providing local and student-run startups affordable office space. The Purdue Foundry provided seed funding to establish the Anvil and the West Lafayette Redevelopment Commission approved a two-year lease of $200,000 for 5,000 square feet of office space to support the expanded use for community entrepreneurs.
Purdue Research Foundation contact: Hillary Henry, 765-588-3586, firstname.lastname@example.org
Source: Shane DeWael, email@example.com