Frequently Asked Questions

General questions | Funding questions | Getting Started | Residency | Time Commitment


General questions


All businesses have some form of technology IP, trademarks and/or copy writes. The facility sits next to the airport runway in Boca Raton, FL.
All aspiring entrepreneurs. Applications are open to all students, faculty and entrepreneurs. A call for applications is currently twice a year, fall and spring. Check out this website: techrunway.fau.edu
You have access to education, team mentoring and support services at our location and access to venture funding. There are great perks such as a $25K grant, free hosting and services, shared services, food/snacks, collaborative work space with the other teams, and more. There is immeasurable value in the connections and advice that you’ll receive when you start your company – our mentors are trained in the “proven” MIT Venture Mentor System and the 16-week Venture Class BootCamp is customized to operationalize your business. Companies will work with faculty and interns, during the 52 weeks at FAU. In addition, the FAU Tech Runway® team will host investor pitch days and provide PR support to ensure exposure to the right investors.
Accepted companies receive a $25K grant. Although FAU Tech Runway® wants to be viewed as a co-founder, FAU Tech Runway® does not take equity or want any special or controlling interests in your company and we won’t ask for a board seat or for any uncommon investor rights. However, we do want credit for assisting in the launch of your company and when pitching to investors we require companies to mention FAU’s support. Beyond that, securing additional funding is part of what we help you to do.
We primarily accept technology (STEAM – Science, Technology, Engineering, Arts and Math) oriented companies, typically web-based or other software companies, but we also accept companies that don’t quite fit that mold. At this time, we are not exclusive to technology and we’re also looking for other companies that can become growth stage companies and can have national or worldwide reach.
Sometimes yes, but not in the same class (Venture Class).
We look for great founding entrepreneurs who are proposing products that solve real problems or create meaningful innovations. For us, it’s about the team – that’s who investors write the checks to. Beyond that, you can strengthen your application by rounding out your team with business, technical, and other necessary skills sets, making progress on your prototype or product and telling us about both in the application. It is important to show us you’ve really thought about your business and can validate that you have a “real” business. There is an application process that includes an executive summary, business plan, pitch deck and three letters of recommendation.
techrunway.fau.edu
Yes, don’t wait until the last minute to complete. There’s a business plan template on the website under Resources.
Each year, we will see a ton of applications and many of them include similar ideas. For this and other practical reasons, please don’t ask us to sign an NDA. Our application does not ask for your “secret sauce” and there is no reason you have to disclose this to us if you’re not comfortable doing so. Additionally, ALL staff and mentors are required to maintain strict confidentiality over any proprietary information entrusted to them. You will determine whether to make disclosures of confidential information to the mentors, the students or the faculty you will work with during the program.
There is no rule about the number of applications you can submit.
Yes. Anyone from anywhere can apply. A copy of your driver’s license is required. However, you do have to be in the U.S legally during the program and register the business in Florida. The founders or minimum 51% need to be in the program and based out of the FAU Tech Runway® facility.
We prefer you do, but it’s your company so you make that choice. It is required that you report company metrics for two years after the program and hopefully when you exit.
Yes. If you have started outside the US you will need to convert. It is required that you report company metrics for two years after the program and hopefully when you exit.
Yes, it is required for the 16-week boot camp, but no, it is not required for the entire year. It’s your company so you can come and go as you see fit. But we do require that you are primarily based on site during the program. In addition, you are required to make arrangements to meet with mentors based on your goals. This benefits you because you can take advantage of the numerous learning opportunities, networking and coaching that will be provided. FAU Tech Runway® is a major commitment, and we expect you to be around most of the time.
Please don’t stop by our offices without an appointment, but we are happy to consider taking an appointment. If you want one, please contact us at techrunway@fau.edu or 561-297-8000. If you are looking for resources check out the Resources tab on the FAU Tech Runway® website, techrunway.fau.edu.

Funding questions


Accepted companies receive a $25K grant. Although FAU Tech Runway® wants to be viewed as a co-founder, FAU Tech Runway® does not take equity or want any special or controlling interests in your company and we won’t ask for a board seat or for any uncommon investor rights. However, we do want credit for assisting in the launch of your company and when pitching to investors we require companies to mention FAU’s support. Beyond that, securing additional funding is part of what we help you to do.
We primarily accept technology (STEAM – Science, Technology, Engineering, Arts and Math) oriented companies, typically web-based or other software companies, but we also accept companies that don’t quite fit that mold. At this time, we are not exclusive to technology and we’re also looking for other companies that can become growth stage companies and can have national or worldwide reach.
Sometimes yes, but not in the same class (Venture Class).

Getting started


All businesses have some form of technology IP, trademarks and/or copy writes. The facility sits next to the airport runway in Boca Raton, FL.
All aspiring entrepreneurs. Applications are open to all students, faculty and entrepreneurs. A call for applications is currently twice a year, fall and spring. Check out our website for details: techrunway.fau.edu
You have access to education, team mentoring and support services at our location and access to venture funding. There are great perks such as a $25K grant, free hosting and services, shared services, food/snacks, collaborative work space with the other teams, and more. There is immeasurable value in the connections and advice that you’ll receive when you start your company – our mentors are trained in the “proven” MIT Venture Mentor System and the 16-week Venture Class Bootcamp is customized to operationalize your business. Companies will work with faculty and interns, during the 52 weeks at FAU. In addition, the FAU Tech Runway® team will host investor pitch days and provide PR support to ensure exposure to the right investors.
We look for great founding entrepreneurs who are proposing products that solve real problems or create meaningful innovations. For us, it’s about the team – that’s who investors write the checks to. Beyond that, you can strengthen your application by rounding out your team with business, technical, and other necessary skills sets, making progress on your prototype or product and telling us about both in the application. It is important to show us you’ve really thought about your business and can validate that you have a “real” business. There is an application process that includes an executive summary, business plan, pitch deck and three letters of recommendation.
techrunway.fau.edu
Yes, don’t wait until the last minute to complete. There’s a template on the website under Resources.
Each year, we will see a ton of applications and many of them include similar ideas. For this and other practical reasons, please don’t ask us to sign an NDA. Our application does not ask for your “secret sauce” and there is no reason you have to disclose this to us if you’re not comfortable doing so. Additionally, ALL staff and mentors are required to maintain strict confidentiality over any proprietary information entrusted to them. You will determine whether to make disclosures of confidential information to the mentors, the students or the faculty you will work with during the program.
There is no rule about the number of applications you can submit.
Please don’t stop by our offices without an appointment, but we are happy to consider taking an appointment. If you want one, please contact us at techrunway@fau.edu or 561-297-8000. If you are looking for resources check out the Resources tab on the FAU Tech Runway® website, techrunway.fau.edu.

Residency


Yes. Anyone from anywhere can apply. A copy of your driver’s license is required. However, you do have to be in the U.S. legally during the program and register the business in Florida. The founders or minimum 51% need to be in the program and based out of the FAU Tech Runway® facility.
We prefer you do, but it’s your company so you make that choice. It is required that you report company metrics for two years after the program and hopefully when you exit.
Yes. If you have started outside the U.S. you will need to convert. It is required that you report company metrics for two years after the program and hopefully when you exit.
Yes, it is required for the 16-week boot camp, but no, it is not required for the entire year. It’s your company so you can come and go as you see fit. But we do require that you are primarily based on site during the program. In addition, you are required to make arrangements to meet with mentors based on your goals. This benefits you because you can take advantage of the numerous learning opportunities, networking and coaching that will be provided. FAU Tech Runway® is a major commitment, and we expect you to be around most of the time.

Time Commitment


Yes, it is required for the 16-week boot camp, but no, it is not required for the entire year. It’s your company so you can come and go as you see fit. But we do require that you are primarily based on site during the program. In addition, you are required to make arrangements to meet with mentors based on your goals. This benefits you because you can take advantage of the numerous learning opportunities, networking and coaching that will be provided. FAU Tech Runway® is a major commitment, and we expect you to be around most of the time.


 Last Modified 2/1/17