UMD alum launches seed fund for student startups

April 17, 2008

This afternoon, an alum’s gift of $50,000 will kick off a fund for University of Maryland student entrepreneurs.

The benefactor is Anik Singal, a 2005 alum of the Hinman CEOs program at UMD, who will gift the fifty grand to a seed money fund and challenge other alumni to follow suit.

How can a recent grad afford the heavy contribution? Singal is founder of Affiliate Classroom, a step-by-step training program that helps people launch and grow affiliate Internet businesses.

“As entrepreneurial undergraduates pursue venture creation, they face challenges in raising sufficient funding to pursue their ideas,” he says in the UMD release. He will take a lead role on the fund’s advisory board.

Students will be able to apply for funding, available in increments of $500 to $5,000, by writing a business plan. A committee comprised of Hinman program alumni and other senior staff will evaluate each proposal and select recipients based upon “each business plan’s value proposition, as well as its probability of success within a reasonable timeframe.”

JACKIE SAUTER, Web Editor

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Posted by Jackie Sauter | Filed Under business, university of maryland 

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