Entrepreneurship Experiential Education Guidelines

For Innovation Fund Award Recipients 

Purpose

1. Create enhanced educational opportunities for students and/or faculty as   required by the IRS private letter ruling issued to the Lorain County Community College Foundation for the Innovation Fund.
2. Provide quality Entrepreneurial Experiential Learning Opportunities for students as a means of bridging the gap between classroom instruction and the world of work.

Requirements (minimum)- to be completed within one year from the initial payment of award.

    for “A” Award Recipients

1. Provide an unpaid Independent Entrepreneurship Project opportunity for a student for 1 semester, 16 weeks – fall, spring, or summer, 7 hours/week for a minimum of 112 hours, and
2. Participate in a group activity involving students such as classroom presentations, guest lecture series, group projects, etc.

    for “B” Award Recipients

1. Provide a paid Entrepreneurship Internship for a student for 1 semester, 16 weeks – fall, spring, summer, or summer, 10 hours/week, $10/hour for minimum of 160 hours, and
2. Participate in a group activity involving students such as classroom presentations, guest lecture series, group projects, etc.

Process

1. Meet with Educational Coordinator within 2 weeks after notification of award announcement to define educational goals and establish time frames that will be incorporated into signed Award Recipient Agreement.
2. Provide written quarterly updates of educational goal attainment. 
3. Final disbursement of the award is dependent on an acceptable status of executing the agreed upon enhanced educational opportunity.