Who can apply?
The fellowship is open to all UChicago students completing either undergraduate or graduate degree programs. Eligible applicants are those who plan to work on their startups as their main professional activity after graduation. Applicants who have accepted and/or deferred job offers will not be eligible for PF3. The Polsky Center expects to award up to 7 fellowships.
In order to qualify, an applicant’s business should be at a point where it has received credible traction and the entrepreneur must demonstrate that he/she is fully committed to working on the business for the foreseeable future. Applicants should have:
An incorporated business
A live product/service and paying customers
a. If your business is in an industry that has a long product or sales cycle (e.g., biotech, deeptech), please provide a detailed timeline of your milestones, the anticipated value inflection points (quantitative or qualitative) at these milestones, and how you plan to acquire your first customer.
b. This criteria may be waived on a case by case basis for IP-based ventures with a long path to market. These ventures will receive additional review from the Deep Tech Ventures team at the Polsky Center.
Demonstrated progress on the venture in the past six months and clearly articulated and measurable milestones for future venture growth
A full-time focus on their startup venture (minimum 40 hours per week)
Good academic standing with a 2.33 GPA or better
A graduation date between December 2022 and December 2023
Entrepreneurs whose startups have received external funding (i.e., institutional investment), which allows them to receive a salary/personal income are not eligible for PF3. If, after receiving a PF3 fellowship, a fellow successfully raises external funding, he or she must notify the Polsky Center to assess continuing eligibility.