Rules & Eligibility

Emails will be sent to the Lead Applicant. Applicants are asked to add noreply@mail.smapply.net to their SafeSenders list, so the emails from SurveyMonkey Apply (SMA) are routed to their Inbox. Applicants are also encouraged to set up mail forwarding for their upenn.edu email address so it forwards to their school.upenn.edu email address. Contact Penn ISC student support services for assistance if needed - https://www.isc.upenn.edu/get-it-help.

Applications must be fully completed and submitted before the deadline of 11:59 PM Eastern Time, on the posted deadline date for a particular program and/or award’s application cycle. If an applicant misses a deadline due to technical or other issues, unforeseen or otherwise, their application will not be considered. Please factor in enough time to ensure there are no obstacles, technical or otherwise, before the deadline. Deadline extensions or opportunities to correct or improve an application will not be permitted. Applicants are encouraged to submit their application at least one (1) business day before the deadline, during normal University of Pennsylvania business hours (9AM - 5PM Eastern) to account for any troubleshooting that might be needed. There is no one 'on call' to assist with troubleshooting application submission issues, technical or otherwise.

Each application must have a Lead Applicant who accepts responsibilities including but not limited to: Submitting the application via SurveyMonkey Apply (SMA) for the venture and on the behalf of any additional team membersActing as the primary contact point for Venture Lab, including individuals or entities designated by Venture Lab (ex. Mentors, pro-bono supports, etc.)Submitting additional materials or deliverables to Venture Lab and/or Venture Lab's designated representative(s) as required by Venture Lab staffIf the venture is not incorporated, then accepting the role as the Individual Payee for any award funding received, and ensuring their bank and contact details in Penn's Supplier portal are up to date. The Lead Applicant must be a currently enrolled degree candidate student (bachelor’s, master’s or doctoral degrees conferred by the University of Pennsylvania) at the University of Pennsylvania. The Lead Applicant must be the person under whose SMA account the application is submitted. Example: If Student A is the Lead Applicant, then the application must be submitted under Student A's SurveyMonkey Apply account. The Lead Applicant will be responsible for making all decisions regarding any award funds and will be the only point of contact for the Venture Lab staff/team. Award funds will be paid directly to the Lead Applicant or to the corporate entity, if the venture is incorporated. Note that select awards cannot be paid to an individual and must be paid to the venture’s corporate entity. Please see the individual program or award rules and requirements for details. The Lead Applicant will be the point of contact for any pro-bono support/awards, mentors, or any other offering provided by the award or program. Note that some programs and awards have additional eligibility requirements. For example, some programs and awards may have grade level or School requirements or have prerequisites. Please see the individual program or award rules and requirements for details. International students currently enrolled in a Penn degree granting program (bachelor’s, master’s or doctoral degrees conferred by the University of Pennsylvania) are eligible to be a Lead Applicant or a Team Member. International students are encouraged to meet with their advisor at Penn’s ISSS office, to ensure they are following all applicable student visa requirements. The Venture Lab staff cannot advise students on how their application, venture, or award could impact their student visa status. The Lead Applicant must have played a significant role in conceiving the venture, hold a key management role in the venture, be actively involved in the venture, and participate in any interviews and/or pitches, meetings, advising/coaching sessions, etc. as applicable. The following types of individuals are not eligible to be a Lead Applicant, although they are eligible to participate on a team. Students on a leave of absence from Penn are not permitted to be a Lead Applicant. Individuals who are not currently enrolled students in a degree granting program at the University of Pennsylvania are not eligible to be a Lead Applicant. This includes but is not limited to Penn alumni, faculty, or staff, individuals taking Executive Education, certificate, or not-for-credit courses, exchange students, visiting students/scholars, and individuals with no Penn affiliation. The Lead Applicant, all other applicants/team members, the venture, and the application must not violate the University’s Code of Student Conduct, Code of Academic Integrity, or any other Venture Lab, The Wharton School, or University of Pennsylvania policy. The Lead Applicant, all other applicants/team members, the venture, and the application must not violate any local, state, and/or federal law.

Both for-profit and nonprofit ventures are eligibleA venture must have a revenue model, regardless of entity type or planned entity type. This includes ventures that are incorporated or will be incorporated as nonprofit entities or B-corps.Ventures that have received more than $1.5M in equity investment at the time the application is submitted are not eligible. All submitted materials must be the original work of the participating applicant(s). By submitting an application, all applicants/team members warrant that the application and any submitted materials do not infringe on any proprietary or other right of others. The venture and application must meet all requirements of the individual program and/or award. Please see the individual program or award rules and requirements for details. The venture and application must not be in violation of the University’s Code of Student Conduct, Code of Academic Integrity or other Venture Lab, The Wharton School, or University of Pennsylvania policy. The venture and application must not be in violation of any local, state, and/or federal law.

The Venture Lab does not take equity or claim ownership of any student ventures, regardless of award status. Receiving an award from Venture Lab does not grant The Wharton School or the University of Pennsylvania any equity in your venture. To determine if The Wharton School or the University of Pennsylvania is eligible to claim equity or ownership in your venture, contact the Penn Center for Innovation. University Claims on Student-Developed PropertyStudents at the University of Pennsylvania who develop new technologies and/or new ventures while enrolled at the University can generally be assured that the University does not have a claim on the intellectual property of the student’s technology or venture unless one of the following applies: The student is employed by the University and the technology or invention is the result of or related to his or her employment; The student has worked under a research grant or other research sponsorship; The invention is made jointly with a faculty member, Penn employee, or other person required to assign their rights to Penn; The student is commercializing a technology or discovery that was made by a faculty member or other University researcher or employee; The student has engaged services of a University department and has agreed otherwise as a condition of receiving such services. In general, except as noted above, students in degree-granting programs are encouraged to put their efforts into seeking the advice and facilitation of faculty members and other resources at the University with the assurance that such action in itself will not result in an intellectual property claim on their work by the University. Students with questions about IP and University Claims on Student-Developed Property are encouraged to contact the Penn Center for Innovation with questions about Penn technology and intellectual property. Applicants are encouraged to familiarize themselves with the University’s Patent and Tangible Research Property Policies and Procedures. Please note: If you are using technology/IP that is partially or fully owned by any university or any other entity, you will be required to upload a letter signed by the primary faculty member or IP owner acknowledging their awareness and agreement with your application for the award/program.

Award funds can be paid to either the Lead Applicant or to the venture’s corporate entity, if the venture is incorporated. Award funds can only be paid out to the Lead Applicant or corporate entity - another Payee will not be accepted. Note that select awards cannot be paid to an individual and must be paid to the venture’s corporate entity. Please see the individual program or award rules and requirements for details. Select awards are paid in several tranches. Please see the individual program or award rules and requirements for details. The Lead Applicant is responsible for making all decisions regarding how the award funds are paid, for submitting all paperwork, and completing all tasks as part of the award process, as well as communicating all decisions to their team. Venture Lab is not responsible for how the Lead Applicant decides to distribute or use the funds and will not become involved in any disputes between team members or company representatives. If you or your venture receives a Venture Lab award and/or acceptance into a Venture Lab program, you agree to submit a thank you note for the donor, project reports to Venture Lab staff that outline the use of the funds as well as the venture’s status and progress, and any other deliverables as required by Venture Lab. You agree to participate in any engagement opportunities (ex. meetings with the donor) as required by Venture Lab. You agree to inform the Venture Lab staff if you should proceed with a venture capital round in the future. You agree to respond to inquiries from Venture Lab and the donor regarding your company's progress and to make yourself available to meet with a Venture Lab representative and/or the donor as requested.

Yes, the IRS considers all funds received from Venture Lab awards as taxable income for the Payee. Note that Individual Payees who are international students will have 30% tax withheld by the University of Pennsylvania. The Payee is required to report the award amount received to the IRS on their personal or business US income tax return forms. Venture Lab staff cannot provide tax advice or recommendations regarding payment methods or payee selection. Students are encouraged to speak with a tax advisor, accountant, or attorney if they need advice. The University of Pennsylvania will mail tax forms directly to the Payee early in the calendar year following the year the Payee receives the award. All questions regarding taxes and tax forms can be directed to https://benhelps.upenn.edu.

Venture Lab reserves the right to disqualify any applicant, participant, team venture, and/or application for good cause, including but not limited to the following reasons: Violation of the University’s Code of Student Conduct, Code of Academic Integrity, or other Venture Lab, The Wharton School, or University of Pennsylvania policyViolation of any local, state, and/or federal lawIn Venture Lab’s estimation, the application is incomplete and/or does not present sufficient content or material appropriate to merit sending to a selection/judge committee for evaluation and feedback. Note that all materials submitted as part of an application must be in English. It is the applicant's responsibility to provide translated documents, website screenshots, etc. if any original materials are not in English. The applicant(s), venture, or application does not comply with applicable rules and requirements. The applicant(s), venture, or application does not meet the eligibility requirements of the individual program and/or award.

Log in to SurveyMonkey Apply with your PennKey login credentialsIf this is your first time using Venture Lab’s SurveyMonkey Apply platform, complete the Eligibility form. Select ‘Programs’ in the top right cornerNavigate to the specific program and/or award for which you wish to apply. Note on deadlines, timelines and submissionsApplications must be fully completed and submitted before the deadline of 11:59 PM Eastern Time, on the posted deadline date for a particular program and/or award’s application cycle. If an applicant misses a deadline due to technical or other issues, unforeseen or otherwise, their application will not be considered. Please factor in enough time to ensure there are no obstacles, technical or otherwise, before the deadline. Deadline extensions or opportunities to correct or improve an application will not be permitted. Applicants are encouraged to submit their application at least one (1) business day before the deadline, during normal University of Pennsylvania business hours (9AM - 5PM Eastern) to account for any troubleshooting that might be needed. There is no one 'on call' to assist with troubleshooting application submission issues, technical or otherwise.

The Weingarten Center offers a variety of resources to support all Penn students in reaching their academic goals. All services are free and confidential. To contact the Weingarten Center, call 215-573-9235. The office is located in Stouffer Commons, 3702 Spruce Street, Suite 300. Disability ServicesThe University of Pennsylvania is committed to the accessibility of its programs and services. Students with a disability or medical condition can request reasonable accommodations through the Weingarten Center website. Disability Services determines accommodations on an individualized basis through an interactive process, including a meeting with the student and a review of their disability documentation. Students who have approved accommodations are encouraged to notify their faculty members and share their accommodation letters at the start of each semester. Students can contact Disability Services by calling 215-573-9235.

Venture Lab uses SurveyMonkey Apply as the application platform for all programs and awards. By applying to any of the programs or awards offered by Venture Lab, applicants agree to submit and/or upload data to SurveyMonkey Apply and acknowledge acceptance of SurveyMonkey Apply terms and conditions (https://apply.surveymonkey.com/).

Applications to Venture Lab programs and/or awards will be shared with Venture Lab staff and with the Selection Committee assigned to review the submissions. Applications and other data collected as part of Venture Lab programs and/or awards also may be shared with faculty and researchers for the purpose of academic research and/or improvement of the award and Venture Lab’s programming. Results from research of this type may be published in the aggregate, and without disclosing personally identifiable information about applicants. Confidentiality agreements/NDAs are not signed as part of Venture Lab programs and/or awards. The final decision about applying to Venture Lab programs and/or awards and about what information will be shared is the responsibility of the Lead Applicant. It is the responsibility of all applicants to keep confidential information confidential and to maintain the confidentiality of their own intellectual property and trade secrets.

If selected for a Venture Lab programs and/or to receive a Venture Lab award, applicants authorize The Wharton School and the University of Pennsylvania to use their names, interviews, and likenesses in all media, including but not limited to video, print and electronic media, in such manner as Penn may deem advisable for the purpose of publicizing the work of Penn and in materials controlled by Penn. Participants acknowledge that they are not entitled to reimbursement for the use of their name, photograph or participation in any and all media developed about and by Penn. (Please note that MBA students have already agreed to this as a condition of their enrollment at Wharton.)You may factually state that you or your entity received a specific award or program acceptance from Venture Lab, and note the relevant donor, unless the donor wishes to remain anonymous, in your press releases, marketing material, and other public statements. However, except as stated in the previous sentence, you and your entity will not use any name, trademark, or logo of Venture Lab, Penn, Wharton or any Penn or Wharton program, without the prior written consent of an authorized representative of Penn, Wharton or the applicable Penn or Wharton program. You may not use any Venture Lab, Penn, Wharton, or Penn or Wharton program name, trademark or logo in a way that states or implies endorsement of your venture or product or project. You also may not use any logos or likenesses of the donor or the donor's company/employer without prior written consent of the donor's authorized representative. Please reach out to Venture Lab at venturelab@upenn.edu with any questions.Please note that some Venture Lab competition stages, (ex. the Startup Challenge Finals) are open to the public, including members of the media/press.

The organizers of any Venture Lab programs and/or awards, Venture Lab, The Wharton School, and the University of Pennsylvania take no responsibility for agreements made or relationships that develop between any of the applicants, reviewers, funders, mentors, advisors, or sponsors, or any other individuals or entities the applicants may encounter as part of a Venture Lab program or award. This includes the decision regarding how to distribute any cash awards among team members. The award funds will be paid to the Payee and via the payment method identified by the Lead Applicant or as required by the individual award and/or program.