An annual $5,000 award is offered to Science Co-op student(s) in recognition of exceptional performance in their Entrepreneurial Co-op business ventures. Recipients must demonstrate meaningful progress toward venture growth, operational leadership, and a long-term entrepreneurial outlook. All Science Co-op students participating in Entrepreneurial Co-op work terms will be considered for this award, with up to four recipients selected each year.
Entrepreneurial (eCo-op) Award Criteria
*Onus will be assigned to the applicant to effectively demonstrate performance in the following categories
*Applicants may receive 1 eCo-op award per year (May-April) to a maximum of 2 awards throughout their enrolment at UBC.
Administrative requirements:
- Submission of the eCo-op Application Form, with venture details and business plan deemed suitable for participation in eCo-op by the Science Co-op eCo-op Committee
- Enrolment in the appropriate Co-op course & payment of the co-op fee
- Completion of all work term requirements (check-in meeting, end of term presentation/report)
- Receive a “Pass” grade for Co-op course
- Complied with all Terms & Conditions of the Science Co-op Program
Performance during eCo-op Term(s):
Demonstrates a high degree of progress and/or growth in the following categories as relevant to the venture:
- Product development: measurable advancement toward delivering a functional product that meets user and business needs.
- Securing investment: measurable advancement toward obtaining financial backing through investor interest, commitments, or funding agreements.
- Product launch: progress toward releasing a product to market, marked by completed milestones in planning, marketing, and distribution.
- Market acquisition/growth: measurable increase in customer base, market share, or revenue within a target market.
Operational Leadership:
Demonstrates effective venture management in the following categories as relevant
to the venture:
- Financial management: effective management of acquired funds within business operations (business tools, marketing, product innovation, headcount, etc.).
- Team cultivation: enabling a positive culture among internal stakeholders.
- Strategic guidance: lead with a clear vision and effective team communication.
- Perseverance: demonstrate adaptability and resilience when responding to challenges and setbacks in the entrepreneurial journey.
- Integrity: exercises ethical business practices and fair treatment towards all stakeholders.
Entrepreneurial Outlook:
Demonstrates long term potential in the following categories as relevant to the
venture:
- Market fit: venture is validated by a target audience via market research, customer feedback, repeat customers, ongoing customer engagement, or other means.
- Viability: demonstrates a reliable long-term revenue generation model, with the potential towards break-even or profitability.
- Growth potential: presents opportunity for long term business scalability through expanding market group(s), partnerships, feature offerings, capacity, or other means.
For any inquiries, please reach out to science.coop@ubc.ca.