What is the Venture Development Incubation Program (VDIP)?
The Venture Development Incubation Program is a 9-month program designed to help selected startups make progress on their entrepreneurial ventures. We encourage everyone who is committed to growing a startup and is affiliated with UTD to apply to the incubation program. Selected teams will have access to incubator-only resources and support that will help them reach their milestones.
Who is eligible to apply to the Venture Development Incubator Program?
VDIP takes no equity unless the company utilizes UTD owned technology (Subject to change) and is available to those who meet at least one of the following criteria:
- One of the venture co-founders is a current degree-seeking student at UT Dallas
- One of the venture co-founders is a UTD alum
- One of the venture co-founders is a UTD faculty/staff team member
- The venture co-founders have an indirect relationship with the University *
What stage does my business need to be in?
We are looking for companies who are fully launched, have identified and established a customer base and have a clear path to revenue, even if they are not yet profitable.
How much does it cost to go through VDIP?
If you’re a current UTD student the incubator program is free of charge. For all others please contact email@example.com for pricing details.
What is it like being a part of the VDIP?
The VDIP is more than just an award-winning coworking space with state of the art facilities and research laboratories affiliated with a prestigious university. It is a formal, intensive 9-month program where the diverse skills and backgrounds of the students, alumni, faculty/staff, and mentors are leveraged. We are working hard to encourage collaboration and establish a community, and the sharing of experiences amongst teams.
How can I ensure I am taking advantage of everything the VDC has to offer?
Our main goal is helping you grow your venture and we realize that different teams require different resources depending on the development stage. We are here to help you set milestones, discuss the best way to utilize our resources and establish an action plan. We will tailor the program to fit the needs of your venture.
How often will I be engaged during the 9 months?
Since our goal is to help you progress and reach your milestones, we will engage with you on a regular basis to ensure you are on track to hit the milestones set during the initial assessment.
You can expect to meet with our team member once a month, engage with your mentor at least once a month, as well as have access to a mentor during mentor hours and engage with the VDC and your peers during our networking and educational series once a month.
How is the Mentor Program set up?
The Mentorship Program is available exclusively to VDIP teams and UTD students. The companies are matched with mentors based on their needs following the initial assessment and will have access to one-on-one weekly mentorship opportunities as well as weekly mentor hours at the VDC. Companies will attend a Mentor Matching Event in early January 2017 to ensure that each team is appropriately matched with an experienced serial entrepreneur. We encourage the teams to meet with their mentor several times per month. The goal of this program is to make progress on the venture and develop deep personal working relationships.
How do I apply to the VDIP?
What if I don’t get selected for the VDIP, can I still work on my venture at the VDC?
Yes! Please refer to our member resources page where you can find out different options.
How long do the companies stay in the incubator facility following the completion of VDIP?
Companies typically spend around 2-2.5 years at our facility. Graduation terms are unique to each company and are established on a case-by-case basis.