In Fall 2023, USC Iovine and Young Academy is excited to award grants of $1500 each to up to 10 teams that align with specific team application guidelines, fueling the development of their Minimum Viable Products (MVPs). For example, $1500 can buy up to 50 hours of an engineer's time if you have a clear request in terms of design materials and tasks. Note that students may propose to spend the $1500 on mission critical items other than engineering help depending on the needs of the project. See more about this below.

This page provides answers to questions you may have about Ignite Grants including:

What You Receive as an Ignite Grant Winner

What, How, and When to Submit in Order to Be Considered for an Ignite Grant

Who is Eligible to Submit for an Ignite Grant

How Ignite Grant Payments Will Be Provided

The ultimate goal of the Ignite Grant process is to maximize your potential to get to market, which almost always includes development of a functioning MVP and gathering customer data. A functioning MVP and customer data will dramatically increase the likelihood of your venture being chosen for the IYA Venture Showcase, startup accelerators, etc.

To be considered, a student team must submit a project for acceptance by IYA. To do so fill out the fields on this [Ignite Grant Submission Qualtrics link] by end of day November 27, 2023. The fields include:

IYA’s Innovation Quest committee will review and announce which ventures receive grants by December 6, 2023.

Your team members must include at least one IYA student who is actively enrolled in Fall 2023 and Spring 2024. Please include the names, roles, and email addresses of your team members. Please identify which team member(s) are IYA students who are actively enrolled in Fall 2023 and Spring 2024.

Your link to current venture materials should lead to a deck or a cloud folder that is easy for the judges to understand and access. File names should describe their function. If you are seeking to hire an engineer or other talent, explain what you will ask them to do. The more clear you are in your ask, the more persuasive your submission will be.
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Your Intended use of proceeds document should include items to make your venture more tangible by making a Minimum Viable Product (MVP). The items may or may not include hiring an engineer. Note that the grant money will not be approved for lifestyle expenses or personal travel.

If you have any questions about what to submit please email IYAIQ@usc.edu.

Who is Eligible to Submit for an Ignite Grant?

As mentioned, your team members must include at least one IYA student who is actively enrolled in Fall 2023 and Spring 2024.

As mentioned, IYA will announce grantees on December 6, 2023. The deadline for you to submit is November 27, 2023.

To comply with university requirements, Ignite Grant payments will be provided using the following process: 

 The IYA Business Office will coordinate the payments via USC financial aid. Students will be presented with a Scholarship Award Letter to review and sign that outlines the grant amount and a budget approved by IYA. Once the grant is vetted by USC Financial Aid Office, a one-time payment will be made to the student. 

You must spend the Ignite Grant funds by April 5, 2024.  Intended expenses need to first be discussed with your Mentor before spending your funds.


Can I submit a project I am working on in a USC class? Can it be from a non-IYA class?
Yes and yes! We encourage you to submit whatever venture you are passionate about regardless of origin.

Can I include non-IYA students on my team? Can I include non-students on my team?
Yes and yes! Remember, however, your team needs at least one IYA student who is actively enrolled in Fall 2023 and Spring 2024.

Will IYA provide help recruiting external talent such as an engineer?
Yes. This is something the IYA Business of Innovation faculty and your industry mentor can assist with. We will most likely encourage you to find talent using an online platform such as Handshake, Toptal, or Topcoder (depending on your needs.)

If I receive an Ignite Grant does that mean I am accepted into the IYA Venture Showcase? Likewise, if I don’t receive an Ignite Grant does that mean I will not be accepted into the IYA Venture Showcase?
The application process for the IYA Venture Showcase will be separate from the Ignite Grants process. That means if you receive an Ignite Grant you will still have to apply to the IYA Venture Showcase and win a spot on merit. Likewise, if you don't win an Ignite Grant you will be able to compete for a spot in the IYA Venture Showcase.

What are the rules for the IYA Venture Showcase?
Details will be provided on the IYA website in January 2024. The IYA Venture Showcase will have additional, separate prizes. 

$30 / hour sounds low for an hourly rate for a software engineer. What if I want to hire someone with a higher hourly rate?
As long as you discuss the expense with your mentor, you are free to negotiate the terms of payment - e.g. fixed bid, higher hourly rate, etc. 
Note that $30 / hour is adequate (and even above market) for experienced software engineers who live outside the U.S. Also $30 / hour is adequate for student engineers such as those who look for gigs on Handshake. 

What if I already have a working MVP or don’t need to pay external talent?
That's great. You should propose how the Ignite Grant will help your startup become more tangible and viable. 

Can I propose to spend Ignite Grant dollars on marketing expenses - e.g. such as buying Facebook ads to drive traffic to a landing page where I collect email addresses? Can I propose to spend Ignite Grant dollars on user research expenses, a metal 3D printed prototype, a mission-critical piece of equipment, or other items?
Yes. Mentors will consider all proposed expenses that will make your venture more tangible and viable. 

I am concerned about intellectual property ownership for my idea. How do I protect myself?
You have the option to complete this Team Project Partnership Exercise at any time. The exercise has been developed to help teams establish IP ground rules before incorporation and protect founders. 

Regarding industry mentors: who are they and how much access will I have to them?
The IYA Business of Innovation faculty will invite investors and operators from industry to serve as mentors. We will attempt to find you a mentor who has expertise that is relevant to your specific venture. We can't guarantee who from industry will agree to be a mentor or how much time said mentor will be able to spend. Note that the Business of Innovation faculty will also be available to support you. 

If investors want to invest in my venture won’t I need to form a corporation, make a capitalization table, hire lawyers, and do other things I don’t know how to do?
We hope the Innovation Quest gives you the opportunity to be faced with these questions. We will give you individualized advice to help navigate these matters. 

What if I want to create a nonprofit venture?
That's fine and is encouraged. As you may know, nonprofits that achieve great impact typically need capital like any other venture. Also, nonprofits can generate scale revenue like commercial ventures. A key distinction between nonprofit and commercial ventures is in the rules regarding whether the proceeds go back into the venture or go into pockets of the owners of the venture. 

What if all I want to do is create an art project with no interest in impact or scale?
The Innovation Quest is not right for those kinds of projects. 

If I have more questions and want advice before I submit an application, who should I talk to?
Please email the IYA Business of Innovation faculty at IYAIQ@usc.edu. 

Fall 2023 Overview and FAQs of Innovation Quest Ignite Grants

IYA Ignite Grants Fall 2023 Overview and FAQs

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