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Minimum Viable Product Fund (MVP Fund)

posted Dec 15, 2010, 4:13 AM by Jessica Bloomgarden   [ updated Dec 15, 2010, 4:18 AM by Andrew Rosenthal ]
Thanks to the efforts of some of your fellow students, the HBS Rock Center is pleased to announce a new pilot program for the winter semester: the MVP Fund.  The Fund will make up to $50,000 in total awards to student teams. It will target ten $5,000 awards; teams may request more or less funding, but in no case will an award be greater than $10,000. The first deadline will be January 28 at 4:00. If there are a sufficient number of outstanding proposals, then all the funding will be awarded in this cycle. If not, we will announce another cycle some time later in the winter semester.

We expect that most proposals will come from teams entered in the HBS Business Plan Contest. However, you are not required to enter the Business Plan Contest to apply for this funding. 

Requirements & Application information
  1. All teams must include at least 1 current HBS MBA student.
  2. A written proposal – in hard copy form – must be submitted to Alice Moses (Rock 107) by January 28 at 4:00 pm.  The proposal should, at minimum, consist of:
    • a description of the business idea and why you believe it represents an attractive opportunity, as well as a detailed sense of any progress you have made pursuing the venture to date (partners, customers, team, etc.);
    • the members of the team and resumes/bios/roles
    • a description of the minimum viable product you intend to build, and a detailed accounting of the specific resources you will need to accomplish this, the identified sources of those resources (e.g., web developers, prototypes, etc.) and the cost of those resources which should add up to your budget and requested award. Also indicate what resources you may already have raised or invested in the venture.
    • what specific results the MVP is designed to provide and how the results will help the team progress with business idea.
  3. Finalists will be asked to present to the MVP selection committee in person. This committee will consist of HBS faculty, students and possibly alumni.
  4. All funded teams must agree to:
    • check-in at least monthly with a mentor from the MVP program;
    • attend a monthly gathering of  MVP teams;
    • present lessons learned from the MVP program and process at some point at the end of the semester. 
Deadline to apply for the first cycle: January 28, 4:00 pm. All application materials are due in hardcopy form to Alice Moses in Rock 107.