Applications for Class 7 (Summer 2019) are open Monday, February 18 through Sunday, March 3, 2019.
To prepare for the application process, we have laid out important information surrounding the options and expectations below. Be sure to review the information thoroughly, and please reach out to us if you need clarification or have questions.
Looking for information about the OwlSpark internship?
We’re looking for individuals who are passionate about startups and entrepreneurship and are itching to roll up their sleeves and get to work with the Leadership Team. This is not a run-of-the-mill internship for the average Joe or Jane; this is an outside-the-box experience for outside-the-box thinkers and doers.
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About the OwlSpark Accelerator
OwlSpark is an intense, immersive summer experience for up to ten Rice University startup teams. Utilizing a robust curriculum, collaborative coworking space, and a diverse mentor network, the OwlSpark startup accelerator program provides startup teams with hands-on experience launching a tech startup. The 2019 program begins May 16 and concludes August 7, and will be hosted in tandem with RED Labs, the University of Houston startup accelerator.
Throughout the summer, OwlSpark delivers entrepreneurship education, teaches relevant business fundamentals, pairs teams with knowledgeable mentors and industry experts, features office hours with successful entrepreneurs, and yields key connections. The accelerator culminates with the Bayou Startup Showcase, jointly hosted by OwlSpark and RED Labs. Together, these resources and collaboration provide exposure and direct access to Houston’s entrepreneurial ecosystem, increasing the probability of continued success beyond the program.
OwlSpark is a full-time program that includes intensive mentoring, curriculum and exposure to Houston’s best resources. Like any entrepreneurial venture, launching a startup requires determination, grit, versatility, and most importantly, passion. Throughout the summer, startup teams are expected to meet a number of program requirements, including:
- Complete pre- and post-assessments
- Attend and actively engage in sessions, workshops, events, as well as weekly meetings with peers, mentors, and leadership teams
- Set and report key performance metrics
- Conducting in-person customer interviews
- Developing basic marketing materials (i.e. logo, executive summary, website or landing page, etc.)
- Attend and pitch at mentor events and demo day
Eligible Team Composition
OwlSpark is open to students, staff, and faculty across all schools and all disciplines, as well as alumni within five years, who have an interest in building leadership skills and capacity as innovation-driven entrepreneurs. Eligible startup teams must have two to five founders, and at least one founder must be affiliated with Rice University. International students are eligible, but must secure authorization from the Office of International Students and Scholars (OISS) prior to the start of the program.
All founders are expected to participate full-time between May 17 and August 7, 2019, and must be present at the showcase event in August. Sessions are held daily, and founders must be present at each session. Additionally, all founders must demonstrate a strong commitment and interest in launching their business.
The application is divided into three sections: (1) the technology, (2) the startup team, and (3) the founder(s). You should be prepared to provide detailed, concise answers to questions surrounding each of these topics. We encourage each founder to review the application questions and pitch video criteria prior to applying (see the Review the Application and Pitch Video Criteria tabs near the top of this page). To help applicants understand the type of technologies and startup teams that will be a good fit for the accelerator program, we have also highlighted three key points designed to guide your thought process and help you formulate productive answers (see the Prepare to Apply tab near the top of this page).
To be considered for Class 7, one application per startup team must be completed by the Rice-affiliated founder.
Only one application per startup team may be submitted. Applications are open through Sunday, March 3, 2019.
The application must be completed in its entirety. Because there is no option to save and finish later, startup teams are strongly encouraged to review the application questions and prepare their answers before beginning the application. A confirmation email with a copy of your application will be sent to the startup team within two business days.
If your application reveals a potential fit for the accelerator program, your startup team will then move to the interview phase of the application process. A member of the OwlSpark Leadership Team will reach out to you regarding details and next steps.
Preparing for the Application Process
The application is divided into three sections: (1) the technology, (2) the startup team, and (3) the founder(s). You should be prepared to provide detailed, concise answers to questions surrounding each of these topics. We encourage each founder to review the application questions and pitch video criteria prior to applying, but to help you understand the type of technologies and startup teams that will be a good fit for the accelerator program, we have highlighted three key points designed to guide your thought process and help you formulate productive answers.
Explain your technology or business idea in a simple, specific statement.
Stick to the basics when drafting your answer—marketing lingo can lend excitement to your technology or business idea, but is essentially ineffective in conveying the necessary information. You should assume that the reviewer does not share your area of expertise, and thus should be easily understood by a diverse audience. If a one-sentence description can convey what you plan to do, then you are halfway to describing your technology or business idea.
Demonstrate each founder’s relevant, but diverse, skill set, attributes, and contribution to the team.
While entrepreneurial experience is helpful, it is neither critical nor required. It is also important to keep in mind that entrepreneurs often possess a multitude of transferable skills, allowing them the flexibility to step into multiple roles within a team. Commitment, resilience, and passion are also key attributes of successful entrepreneurs—and are the primary drivers behind taking initiative and following through. An entrepreneurial mindset is vital to the success of your startup team, so it is important to elaborate on the intersection of your skills and attributes.
Conduct and apply your research: think outside the box.
Who is your customer or end user? Are there other companies or individuals addressing the same problem your technology or business idea seeks to solve? How will you generate revenue? Between customers, competitors, and revenue, you should be able to describe your startup team’s potential business model. While founders are not required to have an understanding of business fundamentals, it is critical to familiarize yourself with the terminology and demonstrate practical application of ideas. Though your innovation or business idea is important, it is also a measure of your ability to think outside the box. We place a strong emphasis on founders’ critical thinking skills, as your technology and/or your business model will evolve or pivot during the program.
The application is divided into two sections: (1) the technology, (2) the startup team, and (3) the founder(s). You should be prepared to provide detailed, concise answers to questions surrounding each of these topics. Because there is no option to save and finish later, startup teams are strongly encouraged to review the application questions below and prepare their answers before beginning the application.
Technology or Business Idea
- What is the name of your Startup Team?
- What does your startup do, provide, make or sell? Describe your technology or business idea.
- What problem or need is your technology or business idea solving?
- Who is your customer and/or end user? Please describe them in terms of age, gender, geography, health status, industry, business type, etc.
- How will your startup generate revenue? Describe your business model.
- What is new or unique about your technology or business idea? Describe how it is different from what is currently on the market.
- What other companies or solutions currently address the problem or need you are solving? Do you consider these companies or solutions to be competitors?
- What inspired or motivated you to pursue a solution to this problem?
- Include a link to your 60-second pitch video. Please provide a complete URL (i.e. “https://www.owlspark.com/pitch_video”). (review Pitch Video Criteria)
- Include a link to any websites, slide decks, demos, or other materials you feel would support your application. Please provide a complete URL (i.e. “https://www.owlspark.com/slide_deck”).
- Have you secured a startup team of two to five founders?
- Why should your startup team be selected for OwlSpark?
- Briefly describe the skills and strengths your team has to advance your innovation or business idea. Please include one to two sentences describing each founder’s skill set and contribution that demonstrates a high level of ability.
- Name and Contact Information
- Rice University Affiliation (if no affiliation, you must specify)
- Residential College Affiliation (if no affiliation, choose N/A)
- Academic Discipline (if no affiliation, choose N/A)
- Is this founder able to participate full-time during the program? If no, please list dates of outside commitments between May 16 and August 7, 2019 that may prevent this founder from attending and participating.
- Choose a word that you think best describes you and explain why you chose that word.
As part of the application process, your startup team is required to submit a 60-second Pitch Video. Please upload the video to the web and provide a link to the video on your startup team’s application.
How do you get others excited about your idea?
Your purpose to get others excited about your idea, not to educate them. You only have 1 minute to pitch, so every second counts. We suggest you allocate your time as follows:
Who are you? (5 – 10 seconds)
Start strong and help people remember your skill set (use a hook).
Example: My name is John and I’m a futurist and designer creating the next generation of drone videography tours in the real estate industry.
What is the problem? (10 – 20 seconds)
Describe the problem in simple terms that the audience can relate to. The audience needs to understand the problem, otherwise they cannot vote for you.
Example: Have you tried to buy or sell a house lately? All the websites and ads look the same. The real estate market presents homes in a boring, predictable way to potential buyers, despite the technology available today. This limits the seller’s chance of getting their home sold and potential buyers’ chances of truly experiencing a home’s real potential.
What is your solution? (10 – 20 seconds)
Make your solution plausible and logical. Add your secret sauce, i.e. your special skills set that shows you can make this work.
Example: I propose to develop a stylized packaged of videos and photos that buyers can use to showcase their homes, recorded and photographed by drones and put together by designers.
Who is your team? (5 – 10 seconds)
Why is your team the right team to execute your business idea?