A self-paced program to help BU students transform their ideas into something real.
*Due to the spread of COVID-19, BU is moving classes online for the remainder of the spring and summer semesters. We are happy to be able to continue Innovation Pathway activities virtually including new team orientation, feedback forums, office hours, workshops, and more.*
The Innovation Pathway (IP), made possible by Cynthia Cohen (MET), founder of IMPACT 2040, is a self-paced program to guide current BU students and recent alumni* through the process of transforming all forms of innovation and entrepreneurship into real impact.
The IP’s four stages will guide you toward the resources, funding, and opportunities that will help you progress your projects and ventures through different phases of development.
The program offers two tracks–ventures and projects–making the process applicable to all forms of ideas
- Ventures: an idea supported by a sustainable and scalable business model (for-profit, tech, social impact, nonprofit, creative, or cultural idea)
- Projects: an action-oriented idea aimed at creating a positive impact on campus and beyond (ex: policy, advocacy, event, media campaign, creative content, etc.)
*Alumni who have graduated from BU within one year may participate in the Innovation Pathway for one calendar year. The BU alumni must be a founding team member of the venture or project or be able to prove that they are a team member with equity. A BU alum who is an intern for a venture/project does not qualify as a founding team member.
Learn More About Stage 1: Get Inspired
The Four Stages
The Innovation Pathway consists of four stages–Get Inspired, Walk, Run and Fly–that will help you push your idea forward.
Each stage includes a combination of resources, milestones, and action items that you can complete at your own pace.
The Walk and Run stages include a formal presentation opportunity to further validate the idea, receive constructive feedback, and unlock funding.
For more information about each stage check out the Innovation Pathway Guide and Calendar or click on one of the phases below.
Verify that you are working on a problem that needs to be solved.
Verify that your solution solves the problem.
Verify that your idea is ready for scaling.
Verify that your idea is strategically scaling and creating sustained impact.
Ready to Get Started? Learn More About Stage 1: Get Inspired
FAQs
- What is the Innovation Pathway? The Innovation Pathway is a process to foster and support all forms of innovation created by current BU students. It will guide you to find the inspiration, resources, and opportunities that will help you to develop your ventures through its different phases. This process is applicable to all forms of ventures or projects.
- Can I work with students outside of BU on my project/idea? Yes. At least one of the founding member(s) is currently enrolled at Boston University as an undergraduate, graduate.
- What if I have an idea but I am not interested in turning it into a startup?
- A project is an action-oriented idea aimed at creating a positive impact on campus and beyond (ex: policy, advocacy, event, media campaign, creative content)
- We support students with any ideas that lead to impact. Learn more about the Innovation Pathway Project track here.
- How do I demonstrate project progress?
- We recommend a variety of templates, depending on the type of idea and current stage.
- Get Inspired: Deeply understand the problem (Impact Gap Canvas as needed) and grow your team
- Walk: Validate your idea (startups: Lean Canvas as needed, projects: Project Proposal and supporting templates)
- Run: Finalize your Lean Canvas or Project Proposal
- Fly: For projects, complete an Action Report
- Feedback is crucial through all of this work
- Receive peer feedback (Idea Nights, Innovation Pathway Community Night)
- Receive expert feedback (Office Hours with Project/Startup Manager, BUild Lab Staff, and external experts)
- If you are ready to demonstrate progress, apply to move on to the next stage and present your work
- Get Inspired -> Walk: Feedback Forum with peers
- Ventures: Investment Panels scheduled 1x/month
- Projects: Project Panels scheduled as needed
- Celebrate your successful transition at an Innovation Pathway Community Night
- I am a graduate student. Can I participate? Yes, if you or at least one of your co-founder(s) is currently enrolled at Boston University.
- I am a BU alum. Can I participate? Alumni who have graduated from BU within one year may participate in the Innovation Pathway for 1 calendar year. The BU alumni must be a founding team member of the venture or project or be able to prove that they are a team member with equity. A BU alum who is an intern for a venture/project does not qualify as a founding team member.
- I have an idea for a non-profit, can I participate? Yes. We welcome all projects and ventures.
- I started my project at EPIC/Spark!/Other BU place, what is the process of participation? We are a campus-wide initiative and welcome any current student startups. The process will be the same and starts with the Innovation Pathway entry form.
- How long will the Pathway take to complete? The timing completely depends on you and your project.
- If I stop working on the project, will I be penalized for it? We support a culture of experimentation to learn what does and does not work as we have seen many startups pivot from their original idea. For this reason, there is no formal penalty but we expect students to take their ideas very seriously.
- What are the potential risks of participating in the Pathway? At Innovate@BU, we believe in a collaborative space where you have the freedom to create to your heart’s desire. We rarely encounter any issues regarding idea theft but if you have concerns about confidentiality, copyright infringements, patents etc., we highly recommend you consult with the BU Law Clinic.
- Can I start the Pathway in the middle/end of the semester? Yes, you can start any time. However, you need to complete the Innovation Pathway Application Form in order to start the Pathway.
- Can I get course credit for working on this?
- The Innovation Pathway offers funding, resources, and guidance but no course credit.
- We run two Hub Cocurricular learning experiences under the Creativity/Innovation capacity.
- Starting a Startup (HUB CC 161): Students apply the tools embedded in the Innovation Pathway process to create a product or service (non-profit or for-profit venture).
- How To Launch a Project (HUB CC 162): Students apply the tools embedded in the Innovation Pathway process to transform an idea into a meaningful and feasible project (policy recommendation, advocacy program, community event, media campaign, creative content, etc.)
- Both Hub Cocurriculars will prepare students through the Get Inspired and Walk stages, but students may not receive funding while still enrolled in the Cocurricular.
- I was not approved to move to the next stage but I have incorporated the feedback and made the relevant changes, can I pitch again? Yes! We offer regular pitching opportunities and our hope is that you leverage feedback and succeed.
- When will I be able to access the funding for my venture/project, and what are the necessary prerequisites before I can use those funds?
- Venture teams: are approved for funding through Investment Panels (between the Walk, Run, and Fly transitions) that happen once a month. Teams are eligible for up to $1,000 in the Walk to Run transition and up to $2,000 in the Run to Fly transition.
- Project teams: are approved for funding through Project Panels (between the Walk, Run, and Fly transitions) that are scheduled as needed. Teams are eligible for up to $3000 as outlined in their budget. Funds are typically distributed in multiple installments based on progress and project timeline (25% in the Walk to Run transition, 50% in the Run to Fly transition, and 25% after the Action Report is submitted).
- To expedite funding disbursement, make sure the team leader has completed a W9 and submitted it to Lisa Lavina at lrlavina@bu.edu. After the paperwork is submitted, it typically takes 3-4 weeks for the payment to be processed.
Recommended Activities for All Stages
Recommended BU activities and resources: