Startup Shell Innovation Fund
Hey Shell family. We've been overwhelmed by the positive response to the Shell's Launch UMD campaign. That's why we've decided to announce two stretch goals: $20,000 and $35,000. Please see our Updates page for more details!
Startup Shell: Student-Driven Entrepreneurship on Campus
Startup Shell is a student-run startup incubator and coworking space at the University of Maryland. Founded in 2012 by students, for students, Startup Shell provides a space and community on campus for students to build their startups and collaborate with other driven entrepreneurs. The Shell has grown from a few friends working out of a converted office space to an interdisciplinary and multi-generational community of students on campus all working on new ventures.
As the University of Maryland continues to become a major player in innovation and entrepreneurship, Startup Shell is emerging as the top student-driven entrepreneurship initiative on campus. In just two years, the Shell has graduated more than 41 alumni and currently is home to 83 students. In true startup style, we've bootstrapped for as long as we could; however, as students ourselves, we can no longer afford self-finance Shell expenses. The tremendous student demand for Startup Shell’s resources has encouraged us to seek funding to sustain the Shell’s current capacity and future growth.
Resources to Respond to Student Needs
Our goal as an incubator has always been to lower the financial and spatial barriers for students starting companies while still in school. However, because the Shell is completely run by students, we can no longer afford to pay out-of-pocket for the expenses of our increasing number of members. We don't take any equity from our startups and the Shell is completely run by students. We’re growing at an incredible pace, but we won’t be able to sustain this momentum without funding.
Breakdown of Innovation Fund
- Business Development: Subsidizing incorporation fees, lab fees, accounting software, legal services, and other administrative costs associated with starting and running a company.
- Supplies & Furniture: Purchasing office supplies and furnishing that didn’t come from someone’s dorm room (or the dumpster).
- Community Events: Funding for events focused on entrepreneurship and student engagement and reimbursements for things bought in anticipation for our Shell Hack Days that don’t come from out-of-pocket student expenses.
- Prototyping Hardware: Tricking out our hardware station with the latest prototyping tools and toys.
Gifts in support of the University of Maryland are accepted and managed by the University of Maryland College Park Foundation, Inc., an affiliated 501(c)(3) organization authorized by the Board of Regents. Contributions to the University of Maryland are tax deductible as allowed by law. Please see your tax advisor for details.