Across industries, college-age students are widely considered to be the top trendsetters, early adopters, and influencers. Whether it’s the newest fashion fad, social media app, or viral product, college-age students are often the first to embrace the latest trends. So, who’s to say that wouldn’t translate to startup success?
Contrary to popular belief, you don’t need years of experience to be an informed and successful investor. Venture capital is all about identifying potential, and who is better at that than those same college-age students who are the trailblazers of so many industries?
Student Venture Funds have existed for decades, but the Northeast Ohio Student Venture Fund (NEOSVF) is something different. Comprised of student chapters from The University of Akron, Kent State University, and other universities and colleges across Northeast Ohio, NEOSVF provides early-stage investment opportunities for both tech startups and student investors. Each semester, our students prove that even without previous experience in the venture capital (VC) world, they can make investment decisions that are just as sharp as those with decades of experience.
Held twice a year, the NEOSVF program fields applications from tech startups across the region. Participating students select which startups they would like to work with throughout the cohort. Each week, students take a deep dive into various aspects of the due diligence process. This program culminates with each student chapter presenting their due diligence findings from working with their selected startup and making an informed investment recommendation.
Sparked at this investment recommendation meeting are dynamic and challenging conversations between participating students. Students from any university chapter can challenge the findings of other chapters, ask clarifying questions, and even attempt to sway other student chapters to use their investment votes a certain way. We always find that our students conduct thorough due diligence on their startups, but often we see these discussions influence change within the final investment recommendation vote.
Don’t get me wrong, learning VC as a student is not easy, but navigating the complex process is how our students prepare for the real world of investing. The NEOSVF student experience is intentionally immersive – like being thrown into the deep end of venture capital – reinforcing rapid learning, sharp thinking, and investor-grade decision-making.
Taking a look at some of NEOSVF’s outcomes since its inception in 2007:
- Over 1,000 NEO students engaged.
- 5 active college and university student chapters.
- 29 NEO startups received funding.
- Nearly $500,000 invested.
The proof is in the pudding; student venture funding works. Not only does it work, but it provides tangible value to students, startups, and the greater VC ecosystem. In a world where access to VC is limited, student venture funds are more than teaching tools – they’re bridges to a more elevated and forward-thinking investment culture.
Are you a college student or a startup founder in Northeast Ohio and want to get involved? Email me at gbyrnes@bouncehub.org!