Northeastern incubates student, alumni, and faculty ventures by providing the necessary tools and resources to support the rapid development of business concepts into self-sustaining or investment-ready ventures. The primary channel for venture incubation at Northeastern is IDEA, our student-run venture accelerator.
Founded in 2009, IDEA is a student-run venture accelerator that helps students, faculty, and alumni of the Northeastern community start businesses. IDEA guides ventures through a stage-gate process to develop their business, and introduces entrepreneurs to the resources they need: student coaches, experienced mentors, and leading service providers that provide legal, accounting, and marketing expertise. IDEA also provides “gap funding” to ventures to achieve specific business and technology milestones.
Opportunities for early-stage ventures at Northeastern
The Gap Fund IDEA’s Gap Fund is designed to award non-equity grants of up to $10,000 to high potential ventures that have identified “gaps” between their current position and what must be accomplished if they are to grow. There are six Gap Funding rounds each year and ventures must successfully pass IDEA’s stage-gate process to apply.
The Prototype Fund The Prototype Fund provides specialized awards for prototype development — often technical in nature. This fund is open to all Northeastern student, faculty, and alumni ventures, and is not limited to IDEA ventures.