As a demonstration of their generosity and commitment to the excellent academic mission of Florida State University’s entrepreneurship program, Jan Moran and The Jim Moran Foundation have provided an annual gift to establish the Jim Moran Student Business Micro Grants program to support outstanding Florida State University undergraduate and graduate student businesses or nonprofit organizations.
Apply for the November Micro Grant Here!
Eligibility
Applicants must be enrolled at Florida State University as a degree-seeking student and can be from any discipline across campus. Applicants must have completed at least 15 credit hours of college-level coursework, excluding credits earned through AP, IB, AICE, or dual enrollment programs. This gift is to be awarded as a one-time opportunity—student businesses are not eligible to receive more than one grant. Students involved with the business must have a total minimum of 51% ownership in the business.
Application Process
Applicants will submit an application (links below) that includes the student business’s value proposition, what problem they are trying to solve, customer segments, customer relationships and channels, key partners, activities and resources, anticipated costs and revenues along with the student’s plan to use the grant funding to validate their assumptions about these areas. Those student businesses that have already been validated and launched will include a plan outlining how the grant funds will be used for a specific need that will enable the business to grow.
A budget, outlining the financial need, must also be included. It should include the details of how the grant funding will be used to validate the market or scale a student business that has already been launched. The budget should contain the current status of the idea (is it already up and running or is it still in the idea-only stage), a detailed breakdown of the needed funding and any other information the applicant deems necessary to finding success in their startup or growth. The statement of financial need should include all anticipated expenses for which the business would require funding. The grant review committee (“Committee”) should be able to read these quickly, as their use is simply to familiarize the Committee members with the idea and how the grant funds will help validate or grow the student business.
Recipient Selection Criteria
Micro Grants up to $5,000 shall be awarded based on the Committee’s assessment of the potential of the business proposed, the merits of the ideas, and the spirit of entrepreneurship displayed by the student business owner(s). The grant money is to be used for a specific need for growth or improvement of an existing student business or to validate the market of a new business concept. Applicants will be selected to pitch to the Committee on a rolling basis as applications become available. Applicants selected to pitch must submit a pitch deck at least 24 hours before the Committee meeting. Failure to comply may result in the meeting being cancelled or rescheduled. The Committee makes final recommendations on the award decisions, which are subject to the approval of the Dean of the College.
Dates and Deadlines
Major dates and deadlines are listed in the table below. Online applications need to be turned in by 11:59pm EST. Decisions to pitch to the Committee will be emailed the Monday before the listed Committee Meeting of each month, if applicable. Applicants who are eligible meet with the Committee virtually to pitch their business and answer any questions. Professional dress is required. Applicants selected to pitch must submit a pitch deck at least 24 hours before the Committee meeting. Applicants should come prepared with a 5-minute pitch, the slide deck, and their financial needs statement. If selected to move forward, students need to be available for the Committee Meeting time and date listed below. If you miss the deadline you will need to apply for the next month's meeting date.
PLEASE NOTE: meeting dates are capped at 5 student businesses due to time constraints. Applicants are scheduled on a first come-first-serve basis. If we cannot fit you into the date you applied for, and you're eligible to pitch, you will be notified and scheduled for the next meeting date.
*All dates and deadlines listed below are subject to change. This page will be updated if there are any changes.*
Fall 2024 Jim Moran Micro Grant Deadlines & Meeting Dates
| Application Links |
Application Deadlines |
Emails Sent to Applicants |
Committee Meetings |
|---|---|---|---|
| September 2024 Application | Sunday, 9/15/24 11:59pm, EST |
Monday, 9/23/24 By 5:00pm, EST |
Thursday, 9/26/24 10:00am - 12:00pm, EST |
| October 2024 Application - CLOSED | Sunday, 10/13/24 11:59pm, EST |
Monday, 10/21/24 By 5:00pm, EST |
Thursday, 10/24/24 10:00am - 12:00pm, EST |
| November 2024 Application | Sunday, 11/3/24 11:59pm, EST |
Monday, 11/11/24 By 5:00pm, EST |
Thursday, 11/14/24 10:00am - 12:00pm, EST |
OCTOBER 2024 APPLICATION UPDATE: Due to the number of applicants who were eligible to pitch from the September 2024 Application, the October 2024 Application has been closed and the spots have been filled. Please see the November 2024 Application if you are still interested.
Recipient Reporting Criteria
Grant recipients will be required to submit a report at the end of each semester detailing the progress made in the business venture. Specific attention will be paid to how Jim Moran Micro Grant funds were used and the impact those funds made on the business venture. The report will also include short-term (i.e., 6-month) projections for the venture.
Frequently Asked Questions
Q. How do I get the money my company was awarded from the Jim Moran Micro Grants?
A.Your company will be paid $1,000 at a time. After you have spent $1,000, you must produce receipts and/or invoices of how you spent that money on business expenses before being given the next $1,000. These steps continue until the full-awarded amount has been given. All receipts must have an itemized list of what was purchased. A proper receipt includes the vendor or company name paid, address, date of purchase, the last four numbers of the card used to pay, and signature of person purchasing. Justifiable business purchases include costs for filing as a legal entity, market research, surveys, validating business ideas through customer interactions, building a website, and other items related to the company. In cases that a business cost is over $1000, appropriate documentation or proof of payment can be shown to receive the exact amount to cover the cost. Anticipated expenses more than $1,000 should be approved in advance by the Director of Student Engagement. If a vendor will accept direct payment, submit their invoice and W-9 form after receiving the approval of the Director.
Q. What sort of things can I use the money for?
A. . You can use the money for legitimate business purchases. For example, you can use the money toward creating a legal entity, validating a business idea through potential customer interactions, surveys, market research, filing a copyright or trademark, building a website or developing an app after the idea has been validated. The priority should be customer discovery and validation if this was not done prior to receiving the grant.
Q. How do I set up a legal entity?
A. Go to http://www.sunbiz.org/ , choose E-Filing Services, and fill out the form you need for the kind of entity you want your company to be. If you need help knowing which type of legal entity you should be, please contact the Student Engagement team at the Jim Moran College of Entrepreneurship.
Q. What forms do I need to fill out before I can receive funding?
A. A. You need to fill out an FSU Vendor Authorization and an FSU Vendor Direct Deposit Authorization form for your company through FSU's vendor onboarding process. Further instructions will be provided to you when you are notified that you are awarded a Micro Grant. You will need a Federal Tax ID (EIN) number for your company to complete both forms. EIN information can be found here:Employer ID Number. DO NOT use your personal Social Security Number on either form. DO NOT send us your business bank account information.
Q. How long do I have to spend the money that was awarded?
A. You have one year from the date of the award letter to spend the funds you were awarded.
Q. What do I need to do in exchange for the awarded money?
A. A report is required at the end of each semester detailing the progress made in the business venture. This report should also include six-month projections for the venture.