FINNOVATION Fellowship Program

We will select up to nine Fellows for each cohort.

For this program, we define “early-stage” as having done your initial research and developing a strategy to launch up to having launched. You can be already operating, but the program is not a good fit for entrepreneurs who have been working full-time on their venture for more than one year, unless they are undergoing a significant pivot.

Yes! Fellows receive a $50,000 living stipend and a $3,000 health care stipend to support them while they are participating in the program full-time.

The $50,000 living stipend can be used for living and learning expenses – rent, utilities, transportation, attending conferences, research, etc. – so you can participate in the program 35 hours per week and take advantage of learning and professional development opportunities. This stipend cannot be used for business expenses.

Applications for our next cohort will be accepted April 1 - May 14, 2023. Applications are then reviewed and finalists are notified by June 30. If selected as a finalist, you must attend Selection Days on July 21 and 22. From there, up to nine Fellows are selected and notified by July 31. The program starts on September 15, 2023 and runs until mid-June 2024.

We believe there is power in community between the members of the cohort, so the program structure includes meeting regularly with other fellows, mentors, and program staff. Additionally, we have reporting requirements and deliverables including the creation of a fellowship plan, business plan, and pitch. You are expected to devote at least 35 hours each week to the Fellowship, including attending events and curriculum sessions and completing program deliverables.

In addition, the FINN Fellowship requires you to be located in the Twin Cities area during the program term so you can work out of the FINNOVATION Lab space in downtown Minneapolis.

We are looking for individuals who are knowledgeable and passionate about a social or environmental problem and dedicated to tackling this issue through entrepreneurship. Ideal FINN Fellows have the drive to be a great leader that can bridge the gap between social change and business with an ability to embrace the ups and downs of personal growth and entrepreneurship. A willingness to consider feedback and flexibility in thinking are essential.

In addition to these, here are other qualities that we look for:

Innovation - your idea represents a truly unique approach to addressing the problem.

Impact Potential - this idea could potentially be scaled to impact many individual lives, a community, or systems/structures.

Financial Sustainability - your business will generate revenue by filling a need of paying customers.

Entrepreneurial - you’re realistic about what it means to be an entrepreneur and have demonstrated such qualities as being proactive and a self-starter, resilient, and a critical thinker.

Continuous Learner - you are curious, a great listener, reflective, and have the ability to admit mistakes and apply learning to future situations.

Leadership - you have demonstrated leadership skills (such as empathy, inspiring/motivating others to action, strategic/forward-thinking, ability to bridge differences in opinion, and self-awareness), and have the desire to further grow as a leader.

You should first determine if you are eligible to apply by reviewing the eligibility requirements below and taking the eligibility checklist. If eligible, you can then start working on the application questions. To apply, you’ll submit your responses to the application questions, one letter of reference (you have the option to instead have the letter of reference emailed to us at info@finn-lab.com by the deadline), and a recent resume, through the online application. We also encourage you to submit a link to a 1-minute video explaining your idea and why you’re applying to the fellowship. (A compelling video pitch is an opportunity to give us a sense of your personality, energy, and passion for why you want to be a Fellow in a different format.)

To be eligible to apply you must:

• Be authorized to work in the United States

• Be at least 18 years of age

• Either currently live in or be willing to move to the Twin Cities Metro Area in Minnesota, and have an idea that will impact individuals or a community in MN

• Be dedicated to solving a social or environmental issue through entrepreneurship

• Not be a Bush Fellow during the FINN Fellowship program term

• Not be related to any members of the Bush Foundation’s staff or board of directors

• You or your spouse cannot be a government official (click for more details) during the program term

• Be able to participate in the program 35 hrs/week from September - June and work out of the FINNOVATION Lab space in Minneapolis, MN

• If your social enterprise is already operating, you are not eligible to apply if:

> You or someone else has been paid to work on it full-time for over one year

> You are not the primary decision-maker

> You do not own all the IP, trademarks, or copyrights related to the business should they exist

As long as it does not interfere with your participation in the Fellowship Program, which is a 35-hour commitment each week (including attending curriculum sessions which are typically between the hours of 9am and 5pm), you may be in school part-time as well. We strongly encourage that your course of study be related to your social enterprise.

Everyone who is part of the application review and Fellow selection committee (anyone who sees the submitted applications) is required to sign a non-disclosure agreement.

This fellowship is designed for individuals, not teams. The living stipend can only go to one person, and much of the curriculum content is focused on individual leadership development. If you have a co-founder or team member, you would have to choose one of you to apply and they would be the only one from your team to participate in the program if selected. The idea is that the fellowship supports one individual to participate full-time in the program. In the future we hope to develop programming that’s a better fit for startup teams rather than just individuals, but as of right now this program is only for individuals.

No, FINNOVATION Lab does not take any rights or ownership of your idea or business.