VT KnowledgeWorks

VTKW Program: The KnowledgeWorks Process - SBIR / STTR Track

The VT KnowledgeWorks SBIR/STTR Program Track is specifically designed to support entities newly-forming to apply for SBIR or STTR funding. There are four basic program segments: Concept Camp, the Phase I segment, the Phase II segment, and the Launch & Grow segment. An optional Capital Formation segment provides maximum flexibility in tailoring the program to match particular corporate needs.

Note: $$ denotes additional cost item

Initial Consultation - Free

Phase I Segment - $2,000 one-time fee - for those applying for Phase I funding, including the following:

	•	Concept Camp - two-day workshop retreat for those considering a business launch, covers issues related to the strategic essence of the proposed business, the founder’s entrepreneurial commitment, business fundamentals, and the overall start-up process. Offered several times each year.
		-	Concept Camp is covered in the Phase I one-time fee or offered as a stand alone fee of $500 prior to entering the VT KnowledgeWorks program. If a Concept Camp attendee subsequently enters the program the $500 will be deducted from the Phase I initial fee.

	•	Administrative services
		-	Simple legal entity formation
		-	CPA-assisted QuickBooks set-up and 3 quarterly bookkeeping cycles
		-	Optional “quiet mode” operation, including phone, email service, and US mail service, $50/month
		-	Monthly payroll service
		-	Optional additional payroll services $$

	•	Business services education and counseling
		-	Banking services primer
		-	Commercial insurance offerings overview
		-	Options for intellectual property protection
		-	Human resources – issues and answers
		-	Public relations tips

Phase II Segment - $1,500 one-time fee, plus $300/month, plus rent, plus office support at $100/month per workstation - for Phase II winners, including the following:

	•	Administrative Services
		-	Discounted rent In the Virginia Tech Corporate Research Center
		-	Monthly basic bookkeeping
		-	Optional complex bookkeeping $$
		-	Monthly payroll service
		-	Optional additional payroll services $$
		-	Full service office support, including furniture, phones, internet access, email service, common office supplies, copying, shared conference rooms, etc.
		-	Eligibility for all Corporate Research Center programs

	•	Strategic assistance
		-	Coaching and review related to the VT KnowledgeWorks “Early Look” summary plan document
		-	Optional market research project work $$
		-	Optional strategic options project work $$

		Mentoring
			12 strategic coaching sessions with the Director
			Optional “shadow CEO”
			Optional local advisory group

		Financial assistance
			Eligibility to apply for pre-launch loans through the Running Start program
			Discounted exhibitor fees in the annual Technology Showcase

Capital Formation Option - $1,000 one-time fee - for those requiring private funding to finance post-SBIR/STTR launch, including the following:
	•	Executive Summary assistance
	•	Presentation coaching
	•	Group presentation coaching
	•	Investor introductions
	•	Organizational development assistance
	•	Formal business plan document assistance

Launch & Grow Segment - $300/month, plus rent, plus office support at $100/month per workstation - for funded companies ready to attack the market, including the following:
		Executive Support
		•	Membership in a Presidents’ Council
		•	Semi-annual strategic review by the Director

	•	Administrative Services
		-	Discounted rent In the Virginia Tech Corporate Research Center
		-	Monthly basic bookkeeping
		-	Optional complex bookkeeping $$
		-	Monthly payroll service
		-	Optional additional payroll services $$
		-	Full service office support, including furniture, phones, internet access, email service, common office supplies, copying, shared conference rooms, etc.
		-	Eligibility for all Corporate Research Center programs

VT KnowledgeWorks Fee Structure SBIR/STTR Track Effective January 1, 2008

Phase I Segment:	Single Fee	$2,000

Concept Camp included

Per extension optional phone/email/US mail –	N/A	$50

Phase II Segment:	Initial Fee	Monthly

Per Company	$1500	N/A

Launch & Grow Option:	Initial Fee	Monthly

Per Company	N/A	$300

Per Additional Employee Workstation	$250	$100

Office Space Per Square Foot	90% of CRC standard rate

Lab Space	35% surcharge for lab space

$$ denotes additional cost item

EXTRA CHARGE SERVICES:

Office furniture rental selections beyond the basic workplace standard will increase the monthly rate for employees affected.

Bookkeeping and accounting beyond the Basic chart of accounts and start-up volume levels may be subject to surcharge.

Copying services beyond nominal volume are available at the CRC Copy Center or at other commercial locations.

Web site design and hosting beyond nominal complexity and volume may be purchased from CRC affiliate vendors or other providers.

Customized build out of office space is subject to quote.

For additional information, please contact:
Lindsey Eversole, Member Services Manager
VT KnowledgeWorks
(540) 443-9100
lindsey.eversole@vtknowledgeworks.com

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