About the Incubator
The Venture Launch Incubator is a selective two-semester program designed to help BYU–Hawaii students build real businesses. A small number of founder teams will be selected to develop, test, and launch their ventures with the support of mentors, faculty, and program resources.
Applications will be evaluated based on the strength of the team, quality of the business idea, evidence of market validation, and the team’s ability to execute over two semesters. Teams should apply only if they are serious about building a real company.
This program is demanding and will require a significant commitment of time and effort. Founders should expect to dedicate consistent weekly hours (10-15+) to customer interviews, testing ideas, building prototypes, and executing on their venture. The incubator is not a typical class project; it is a hands-on process of building a real business, and participants should be prepared for the program to require focus, persistence, and a high level of personal responsibility throughout the two semesters.
- Prerequisites: ENTR 180, 275, and 283
- GPA: 3.0+
- At least 1 member of the team MUST be starting their senior year to participate.
- Applicants must demonstrate evidence of action (customer interviews, prototype, early sales,
or experiments).
Content to include in your written proposal:
1. Problem: Describe the problem or need in the market and explain why it matters now.
2. Market Analysis: Provide data on your target market size, trends, and customer demographics.
3. Competitive Analysis: Identify key competitors and explain your unique advantages.
4. Customer Discovery and Validation: How many potential customers have you spoken with so far? Summarize the key insights you learned and how those insights influenced your business idea.
5. Product or Service Offering: Detail your product or service, highlighting what makes it innovative or valuable.
6. Marketing and Sales Strategy: Outline how you will attract and retain customers, including pricing and promotion.
7. Operations and Logistics: Explain how your business will operate daily, covering production, supply chain, and delivery.
8. Risk Analysis: Identify potential risks and describe how you plan to mitigate them.
9. Scalability and Growth: Explain how your business can expand over time and adapt to market changes.
10. Financial Projections: Present projected revenue, expenses, and profitability over the next 3-5 years.
11. Proposed use of Funding: Outline how the $5,000 in funding would be utilized to support your venture.
12. Management and Organization: Introduce your leadership team, their roles, and relevant experience.
13. Founder Commitment
Founders are expected to commit 10–15 hours per week for two semesters. The following semester combinations are available:
Option 1:
Fall Semester — 4 credits
Winter Semester — 4 credits
Option 2:
Fall Semester — 4 credits
Winter Semester — 2 credits
Spring Semester — 2 credits