The Eugene Applebaum Dare to Dream grant program moves University of Michigan students through the business creation process by offering business development seminars and awarding $300-$5,000 in grants to individuals and/or student teams. The program requires students to submit deliverables as they are guided through the business development path from a nascent idea to formulating and assessing potential businesses to planning and launching these businesses. The grants program has three phases and students may enter their business into the program at any phase. Once entered the business cannot re-apply for the same phase or a phase before it.
The Eugene Applebaum Dare to Dream Grant Program is supported by the late Eugene Applebaum and Applebaum Family Philanthropy. Eugene Applebaum was the founder of drug store chain, Arbor Drugs, Inc. which he grew to 208 stores before selling to CVS in 1998. Mr. Applebaum also served as President of Arbor Investments Group. Support for the Mayleben Family Venture Shaping Grants is provided by Tim Mayleben, CEO and president of Aastrom Biosciences, and his wife Dawn Evans.
Applications for upcoming programs are accepted in September 2020 and January 2021. Our Canvas site will be updated with additional information on the application process in August. Join us for virtual information sessions at the Ross School of Business this fall. Please contact Dare2Dream@umich.edu with any questions.
Apply
Mayleben Venture Shaping Grants - Phase I
The Mayleben Venture Shaping (Phase I) grant program takes University of Michigan students through the process of constructing a viable business out of a business idea - a differentiated, sustainable venture that holds commercial promise and that can be launched. Once the business construct is completed, teams may apply for a Dare to Dream Assessment grant to evaluate the feasibility of their business.
Application
Applications are accepted in September 2020 and January 2021. Join us for virtual sessions at the Ross School of Business this fall. Please contact Dare2Dream@umich.edu with any questions.
Award and Deliverable Details
Awardees are required to attend office hours and two workshops (Developing Your Business Model Canvas and Conducting Effective Customer Discovery) and will receive up to $300 once the deliverable (a Business Construct) is completed and approved. The process will help to generate a business construct that states what the final product is, who the customers are, and where the venture fits within the value system. The business construct can be submitted to apply for a Dare to Dream Assessment (Phase II) grant.
Open to University of Michigan (Ann Arbor campus) students only.
Dare to Dream Assessment Grants - Phase II
The Eugene Applebaum Dare to Dream Assessment (Phase II) grants are for student teams with a proposed business that is selling a unique product or service with a clear market need. During the assessment process teams will establish the feasibility of their business in order to gauge whether or not to invest further resources and commit to launching the venture. Once this is established, an Integration grant encourages the creation of a full business plan.
Application
Applications are accepted in September 2020 and January 2021. Join us for virtual information sessions at the Ross School of Business this fall. Please contact Dare2Dream@umich.edu with any questions.
Award and Deliverable Details
Awardees are required to attend office hours and three workshops (Identifying & Sizing Your Market, Assessing Financial Feasibility, and Startup Financials) and will receive up to $1,500 once the deliverable (a Feasibility Study) is completed and approved. This will evaluate the market, the financial concerns of the industry, and specific team issues. The feasibility study can be submitted to apply for the Eugene Applebaum Dare to Dream Integration grant.
Open to University of Michigan (Ann Arbor campus) students only.
Dare to Dream Integration Grant - Phase III
During the Integration (Phase III) grant process University of Michigan student teams will write a business plan and create an investor pitch.
Application
Applications are accepted in September 2020 and January 2021. Join us for virtual information sessions at the Ross School of Business this fall. Please contact Dare2Dream@umich.edu with any questions.
Award and Deliverable Details
Awardees are required to attend office hours and three workshops (Startup Financials, Startup Funding for First Time Entrepreneurs, and Communicating with Investors) and write a complete 10-page business plan. Grants of up to $5,000 are provided upon completion of requirements.
Open to University of Michigan (Ann Arbor campus) students only.
FAQs
1. Are there any requirements for the team structure?
You need a current University of Michigan (Ann Arbor) student on the team to apply for any phase. Diverse teams are more favorably reviewed.
2. Can I be on more than one team and/or apply with more than one idea?
You can, but it is highly discouraged. It instills doubt about commitment, focus, and motivation.
3. Can I apply to more than one phase with the same idea?
No. You must start with one phase. You can apply for the next phase during the next cycle.
4. What kind of businesses are you looking for?
We prefer applications that show innovation, high-growth potential, and committed teams. We discourage restaurants, real estate flippers, and apps.
5. What is the benefit of applying for Venture Shaping (Phase I) instead of Assessment (Phase II)?
Do you know that you have a viable business construct (that you have validated through conversations with users AND customers)? If not, why not get paid to do this?
6. What if the Feasibility Study shows the idea is NOT feasible?
Your team will still receive the grant money as long as the study is completed properly.
For more information, please refer to the information sessions slides in Canvas or contact Dare2Dream@umich.edu.
