Updated 5/1/2020 by Cassidy Beegle-Jackson.
Starting a business can daunt founders at any age, but becoming a student entrepreneur can add a special kind of anxiety to college life.
"When you’re meeting with people and telling them about your business as a 22, 23-year-old, a lot of the time people look at you cross-eyed," said Spencer Deese, who founded his D.C.-based startup The Community Company while studying at American University in 2013. "There’s a lot of negative talk coming from experienced people in the business community."
Fortunately, there are plenty of local resources that young entrepreneurs can use to their advantage in the D.C. area. From news and information sites with educational tools and articles, to local incubators that provide funding and networking, student startups at American University, Howard University and other schools in the region have a wealth of opportunities at their fingertips.
In fact, college campuses can be uniquely suited for young founders who want to build their early-stage networks.
"People love to help students, so it’s a good time to be reaching out for advice and mentorship," said Jeff Reid, founding director of the Georgetown Entrepreneurship Initiative.
Mentorship may not remove some of the most basic hurdles for success, but it can help founders to know how to be prepared and learn from leaders with decades of experience under their belts.
"Everything about entrepreneurship is risky; there’s no guarantee for anything,” said Deese. But the young CEO did offer a few tips.
“Make sure you surround yourself with people who are smart and supportive," he explained. "Try to maintain a positive attitude, because that positivity is a great motivator for yourself and inspiring to other people you meet with and talk to."
The Community Company’s work caught the eye of local incubator 1776. In May, the startup applied and was accepted into 1776’s program, which has been an “absolute game-changer” for business, according to Deese.
"You can’t do this alone," he said. "You need all the help you can get."
Here's our ultimate resource guide for D.C.-area college students who will be building businesses from the ground up in the coming year. It will come in handy:
News and info sites
#DCTech – Twitter's go-to hashtag for the innovation community in D.C. is the one to watch if you want to turn on the biggest hose possible for your local tech news.
DC Inno – As you probably already know if you're reading this article right now, DC Inno is the site to watch if you want insightful commentary on local tech and innovation news. Our DC Inno Approved series has a weekly rundown of the area's best tech events and our daily newsletter, our daily tech newsletter, the DC Inno Beat, provides daily must-read news and commentary from the DC tech scene.
DC Tech – If you join one Facebook group to follow what local founders and other tech personalities are watching, this is the one to check out. It is not a coincidence that you'll find some DC Inno links flowing through there from time to time.
Technical.ly DC – For some those of you interested in some quick hits and broad-stroke takes on local tech events, Technical.ly also serves up info that's worth keeping tabs on.
DC Young Entrepreneurs (DCYE) – DCYE helps young entrepreneurs with networking and educational resources. At 1,330 members and counting, the group is smaller and more informal than TiE. But DCYE’s website offers many options for students looking to develop their startup. Visitors can join message boards or mailing lists to connect with like-minded entrepreneurs, or find a meetup group that suits their interests.
Potomac Tech Wire – A free daily email newsletter, Potomac Tech Wire sums up tech happenings in the Washington, D.C. area.
Events and networking
DC I-Corps Node – Run by Virginia Tech, Johns Hopkins and the University of Maryland College Park, DC I-Corps offers hands-on training for tech entrepreneurs looking to gain ground with their startup.
DC Tech Meetup – DC Tech Meetup is a place for young entrepreneurs to network and share news about their products. With 16,896 members and counting, there’s no shortage of brains to pick.
Washington DC Startups List – A networking resource for young entrepreneurs, Washington DC Startups List includes a list of companies and a calendar of upcoming events.
Startup DC – Startup pitch nights and leadership programs are just a couple things Startup DC offers to young innovators. Student entrepreneurs can consult the group’s site for information on upcoming panel discussions, events and seminars.
DC Inno Approved – Here's where DC Inno gives you a short list of the most important tech events to put on your calendar each week. Daily picks from DC Inno Approved are included in our daily tech newsletter, the DC Inno Beat.
Investors who back college startups
Amplifier Ventures – Focused in the Washington, D.C. area, Amplifier Ventures offers funding and consulting services for startups in the region.
TEDCO – TEDCO was started almost two decades ago to spur tech innovation in Maryland’s research universities and federal labs. The organization offers seed funding for startups in the state.
1776 – Global incubator 1776 helps startups by providing seed funding and networking opportunities.
Groundwork – Experienced entrepreneur Jason Towns revealed earlier this year that he would start a $10 million investment fund in Washington, D.C. for startups launched my minority entrepreneurs. Groundwork will also act as an incubator and accelerator for early-stage businesses.
Village Capital – This VC firm aims to spur tech entrepreneurship outside of mains hubs such as the Silicon Valley and New York. Village Capital’s programs range from financial services to health and focus on tech that improves sustainability and opportunities for underserved communities.
Top incubator/coworking/accelerator places to hang around
Halcyon Incubator – Located in a federal-style mansion in Georgetown, Halcyon Incubator accepts pitches from social entrepreneurs to participate in their business program, which includes residency and post-residency stages.
Startup Village LLC – A living space for college entrepreneurs, Startup Village doubles as a meeting ground for those with startup connections and innovative ideas.
WeWork – Billed as a cheaper alternative to traditional office space, WeWork offers its members access to offices, administrative services and amenities such as private phone booths and onsite staff. There are multiple WeWork spaces in the D.C. area.
Top local biz plan competitions
GW New Venture Competition – Geared toward GW students, faculty and alumni, the GW New Venture Competition handed out more than $260,000 in prizes in 2016 for new ideas and technology.
Towson University Business Plan Competition – Open to pre-startup or early-stage businesses in the Baltimore-Washington region, the TU Incubator Business Plan Competition offers winners a 90-day membership that includes office space, mentoring and cash prizes.
Leonsis Family Entrepreneurship Prize – Teams or individual students at Georgetown University can compete each semester for the Leonsis Family Entrepreneurship Prize. The competition has an annual limit of $100,000 and focuses on early-stage business ventures.
Cupid’s Cup – A $100,000 prize is on the line with Cupid’s Cup, a competition that started at the University of Maryland and is sponsored by the Under Armour CEO. The final event gives nationwide applications the chance to pitch their plan to a panel of judges.
E-Cup – Open to UVA undergraduates, grad students and post-doctoral fellows, E-Cup is an annul competition that helps spur innovation and coach young entrepreneurs through early-stage development. The top five projects in each of the competition’s five tracks get $1,000.
Deans’ Business Plan Competition – Students and recent alums of George Mason University can enter the Deans’ Business Plan Competition. A total of $10,000 in cash and prizes is offered to four recipients in the business plan competition finals, and $15,000 is awarded to the winner of the Mobile Game Competition.
The Big Idea - This competition allows for AU students to work in teams to create a two-minute pitch video for service or product that will be judged by AU alumni. The prize awarded to winning teams is $2,000.
Rise to the Challenge Pitch Competition - Hosted by the Center for Entrepreneurship and Innovation at University of Baltimore, this competition calls students to submit an investment summary as well as one-minute pitch video for their business ideas. The prizes include over $20,000 in cash as well as professional services.
Top university incubators in the area
AU Incubator – American University's students and alumni alike can find opportunities at the school's incubator operation. The mentoring and coaching available there can help make the difference for young founders who are just getting started.
StartupHoyas – Funded by Georgetown’s McDonough School of Business, StartupHoyas offers academic and off-campus programs to help young entrepreneurs develop their ideas. The program connects students with alumni, industry vets and other business executives.
Startup Shell Incubator – Startup Shell is open to University of Maryland students who want to build companies from the ground up. Founded and run by students, the campus incubator includes dozens of members and offers a coworking space with a conference room.
in3dc (Inclusive Innovation Incubator) – Back in March, D.C. Mayor Muriel Bowser officially broke ground on Howard University’s long-awaited startup incubator. The incubator, which will be housed in a renovated space in the Wonder Plaza retail center, is geared toward minority entrepreneurs and underserved communities.
The Hatchery - Located at John's Hopkins University, The Hatchery is open to student teams of all industries, stages, and products. The only requirement is that the team is dedicated to making their idea a reality.
GW Summer Startup Accelerator - The ventures chosen for the GW Summer Startup Accelerator join a cohort of GW student ventures who all share a common goal: to launch and scale their startup ventures.
