Step 1: Apply to eLab
APPLICATION DEADLINE: September 30, 2013
To apply fill out ELAB'S ONLINE APPLCATION. BEFORE STARTING THE APPLICATION, PLEASE REVIEW THE APPLICATION CHECKLIST. Admissions will be competitive and many teams will not be admitted. For those not admitted, we have many resources available to help you refine your concepts, strengthen your team, and improve your own entrepreneurial skill set so that you will be a stronger team when the next opportunity is discovered. Click here for preLab options.
Step 2: Fall Programming
Once your team has crafted its vision for the remainder of the program during orientation, we can begin the process of supporting you as you embark on this exciting challenge.
- For the remainder of the fall semester, we will craft individualized team plans to help move your team in the direction of your overall goals. We will form boards for each team consisting of eLab mentors, eLab fellows, and members of other teams in eLab.
- We will set up a weekly meeting schedule to facilitate communication to help teams remain accountable to their goals.
- We will also provide several hours a week of office hour support where we are available at eLab on a walk in basis. We will also have a technical expert on staff to assist you with web development, web design, and mobile application issues or questions.
- Of course, we'll also do some really fun socializing as well!
Step 3: Winter Break Challenge
DECEMBER 17, 2013 - JANUARY 23, 2014
Winter break offers a respite from the rigors of classwork. It also creates a golden opportunity to really focus on your startup and get in front of target market customers.
- We will help you design customized, rigorous winter break goals that will really help move your concept forward.
- We will also meet up mid-break in New York City to meet face to face with mentors and help you learn art and science of pitching your concepts. Students need to find their way to NYC. eLab will cover hotel rooms and some meals.
- Finally, we will begin to plan your exit from eLab. Are you on track to raise capital at eLab's demo day in mid-April? Are you a candidate for the professional summer accelerators we have connections with? If so, which accelerators offer the right fit? Have you learned during this process that you need to pivot and change direction?
Winter break is a key time for eLab startups and we have the tools to help you maximize this valuable time.
Step 4: Spring Semester
Once your team returns to campus, eLab's leadership team will assess your progress to date and develop a plan for the remainder of the program, which will end in early, May.
- Participation in NBA 6860. All eLab students are expected to enroll in NBA 6860. In fact, we can enroll you. At this point in the process, you should have a prototype and feedback from customers. You will be ready for serious mentoring. That's great because that's exactly what we have in store for you. We will have a one-hour lecture on key, relevant topics and then one customized hour just for eLab teams. Each session, we will focus in on one or two teams and really dig deep. The other teams learn vicariously and are actively involved in the discussion.
- Developing sales and pitching skills. We will help each teamwork on these vital skills. If you or someone on your team can't sell, you can't make it. It all starts with selling something. You must be able to answer this question at this point in the game: to whom am I selling and why should they buy?
- Determine your track: During the spring, we'll know what tracks teams are on: are they going to pitch at Demo day for investment? Are they going to pitch for advice? Are they ready for a professional accelerator? If so, which ones are being targeted and why? Is your concept best suited to bootstrap and begin selling immediately to customers?
Step 5: Conclusion/Outcome of Program
eLab's program concludes in early May. Here are the outcomes we expect:
- Some concepts will get funded by angel investors at eLab demo day during the Entrepreneurship@Cornell celebration in mid-April.
- Some concepts will be accepted into professional accelerators such as Start Fast or Plug and Play Tech Center.
- Some concepts will bootstrap or raise a "family and friend" round and launch.
- Some concepts will pivot and pursue new directions.
- Some concepts will learn a great deal and fail.
ALL CONCEPTS WILL LEARN A GREAT DEAL, BUILD AN OUTSTANDING NETWORK AND HAVE FUN!
Step 6: Feedback and Conversion to eLab alums
As you move on from your eLab experience and become an alumnus of eLab, we will provide mechanisms to candidly and anonymously share your feedback. eLab is a service organization, and, as such, needs your feedback to strengthen and improve our service offerings and programming. We want our alums to remain actively involved in eLab and, eventually develop into mentors, members of eLab's board of directors, and other outcomes of distinctions.