About the Entrepreneurial Fellows Program
Many promising innovations with strong commercialization potential stall just before reaching viability because the graduate student inventor must transition to full-time employment. At the same time, talent retention remains a challenge in Tennessee. According to the Knoxville Chamber’s Talent Redefined 2021 white paper, the Knoxville region experienced the second-largest gap between growth among residents ages 15-24 and those ages 25-54. In other words, while the University of Tennessee attracts large numbers of undergraduate and graduate students, many leave the region after graduation.
The Entrepreneurial Fellows Program is designed to help retain this talent and strengthen the region’s innovation ecosystem by supporting hands-on work in deep tech startups. The program prepares outstanding recent UT graduates and postdoctoral researchers with strong scholarly and technical expertise for careers in innovation, technology development, commercialization and entrepreneurship.
Entrepreneurial Fellows receive financial support, mentorship, and entrepreneurial training to accelerate the commercialization of their technologies. Fellows may receive:
- A stipend of up to $60,000
- Participation in innovation and entrepreneurship programs, including I-Corps
- Business mentorship from UTRF’s Executives in Residence (EIRs) and licensing professionals
Program Details
| Availability | Up to three fellowship positions may be available each fiscal year across the University of Tennessee System, with start dates varying as opportunities arise. |
| Stipend | Fellows may receive a stipend of up to $60,000. The Fellow’s college, department or principal investigator (PI) is responsible for covering employee benefits and any additional associated costs. |
| Duration | One-year, non-renewable fellowship. Start date may vary. |
| Nomination | The PI must initiate the nomination (see below for requirements). The PI should submit the complete application package to the UTRF President, copying the technology manager (TM) and vice president (VP). |
| Selection | Selected applicants may be invited to interview with the PI, UTRF’s VP and President. Final fellowship decisions are made by the UTRF President. |
Term Sheet Required Before Award Finalization
Fellowship support through the Entrepreneurial Fellows Program represents a strategic investment in the technology and is not a traditional research grant. Because technologies supported through this program frequently result in a startup license, before the award is made, UTRF requires the PI and the Fellow to execute a term sheet that outlines the agreed-upon financial terms that will govern any potential license. These terms will be incorporated into any formal license agreement executed between UTRF and a startup in which the PI or the Fellow are granted greater than 10% equity (vested or non-vested) or are considered founder(s) of the startup.
Program Requirements
To be considered for the Entrepreneurial Fellows Program, nominees must:
- Have an innovation disclosure on file with UTRF
- Work closely with a TM on the commercialization pathway and intellectual property secured
- Have completed their most recent post-baccalaureate degree such as M.S. or Ph.D.
- For UT Knoxville applicants, being an awardee of the Chancellor’s Innovation Fund (CIF) is strongly encouraged.
Prospective Fellow Application Materials
- Name
- Technology disclosure number
- Technology title
- Resume
- A one-page essay addressing:
- Personal goals the Fellow anticipates achieving during the fellowship, including any current or planned startup involvement.
- Technical milestones you plan to accomplish as part of the Fellows Program by the third month, the sixth month and the twelfth month.
- Expected commercialization outcomes at the conclusion of the fellowship (startup formation, external licensing or both), including any identified industry partners or interested companies.
Materials Submitted by the PI
- A statement of work. Collaboration with the assigned TM and EIR is strongly encouraged to develop the statement of work.
- A letter of recommendation confirming the Fellow’s qualifications and verifying that laboratory space, technical resources and mentorship will be available throughout the fellowship. The letter must include a statement agreeing that the Fellow will only work on the statement of work during his/her fellowship. The letter should also address what funds beyond the fellowship are needed to do the proposed work during this timeline and if those funds are currently available.
Reporting Requirements
Once selected, as part of the program Fellows and their PIs will be expected to:
- Attend a monthly progress meeting with the UTRF President, TM and VP.
- Attend weekly meetings with their assigned EIR.
As part of the program, Fellows will be expected to submit written monthly progress updates that detail:
- Work completed during the past month, describing in detail the technical work completed and the results.
- Planned work for the upcoming month.
- How current progress aligns with the approved statement of work.
- Overall progress toward a minimum viable product.