Business Springboard

The Business Springboard is an opportunity for students to receive money for starting a new business. The Springboards are held four times per year as listed in the table below. Students submit their documents, which are initially screened for completeness and appropriateness by the document due date. Along with their business plan documents, students must also submit evidence that they have previously attended a Business Plan Writing Workshop sponsored by SIFE. If initially approved, the documents are presented to a group of business leaders that will begin evaluation of the proposal. About two weeks later, students will give a 20-30 minute presentation of their business plans to the committee and others, and answer questions regarding the plan. The committee will be seeking to determine if the business appears feasible and profitable. The committee will then make a recommendation to the Newel K. Whitney Society to provide a grant of up to $2,000 to be used solely for the purpose of starting the proposed company. All such grants will be dispersed within a week following the presentation, and are not required to be paid back to the University or the Society. However, successful entrepreneurs are encouraged to donate back to the University, if and when the firm's profits can make that possible.

If you are interested in participating in the Business Springboard, please print and complete the application linked below. Then submit four (4) hard copies, each containing the following:

1. the application;
2. resumes of each partner/owner of the proposed business; and
3. the business plan, including: a) a full description of your company; b) the products or services you will offer; c) a description of your market and the marketing strategy; d) a description of your management team and experience; and e) a financial summary showing projected revenues, costs and returns for at least three years in the future.

Submit all of the above documents to Smith 229 by 2:00 p.m. on the dates shown below.  For additional help with the business plan, click on the  Business Plan Guide link below. If you have any questions please contact Will Jenson by email at jensonw@byui.edu.

Students should note that the annual Business Springboard Competition and the annual Entrepreneur of the Year Competition, both sponsored by the College of Business and Communication is TBA. These are two other opportunities for students to seek funding for their businesses outside of the Newel K. Whitney Society Business Springboard. The Seminar is mandatory to participate in the competition. The Seminar is TBA.

Springboard Rules and Application

Business Plan Guide