WACO (February 5, 2013)--Entrepreneurship students at Baylor University have teamed up with the town of Addison to help them cultivate their online businesses.
The partnership will give the students experience creating online businesses, raising funds, creating marketing plans, launching products and services and generating sales.
Addison, a town in north Texas, will provide the businesses network support during a 12-month period and leverage the support of community economic development stakeholders through the city’s economic development department.
Eight student teams comprised of three students per group will participate and are required to launch their company within 45 days.
Students are expected to generate revenue in the first semester and to make profit during the second semester.
Each team is receiving $5,000 of seed funds from the Baylor Angel Network through BAN AV Investment Fund One, LLC.
The program will be offered each year and will be funded by Fund One for three years.
Addison will provide free office space and support services for one year for graduates who complete the Accelerated Ventures Program at Baylor’s Hankamer School of Business.