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LUMS Center for Entrepreneurship (LCE), in only a short time of its conception, has managed to become one of the most recognized in bringing entrepreneurs to the spotlight. LCE is now taking applications for the latest installment of the 4-month summer program called “The Foundation”. The program offers business incubation and acceleration to those who are accepted in it.
The Foundation Council will test and examine your startup rigorously after which LCE picks up the most noteworthy startup. So if you are planning to apply for the program, make sure you are an entrepreneur who has a passion in pursuing their startup to its full potential.
The Foundation will offer many facilities and luxuries to the accepted startups. The founders will be guided through the administrative hassles of the startups. There will be agreed upon milestones which will measure the startup development over the course of the 4-month incubation/acceleration cycle. The startups managing to meet the expectations of LCE will be showcased at an investor conference upon their graduation.
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Selected startups aren’t bound to pay anything, but they will have to offer a certain portion of their company’s equity or share to LCE. The Foundation offers the following facilities to startups based on three equity packages, 2.5%, 5.0% and 7.5%.
- Up to 4 months of access to co-working office facility at LUMS
- 24×7 utilities including power, Internet and phone
- Shared access to IT and administrative infrastructure & resources
- State of the art video conferencing system
- Access to LUMS labs, library, gym & other common access facilities
- Access to the world-class faculty at LUMS
- Continuous support from the world-class management of LCE
- Marketing and PR support from LCE
- Regular mentoring and advice from seasoned leaders
- Access to investors at the Startup Summit
- Sustenance stipend for up to 4 co-founders
The last date to apply for The Foundation is July 30th. You can submit your applications here.
