Applications have been received for the first-ever Cobbertunity Fund cohort. This fund was first announced last year as a way for Concordia to support entrepreneurs on campus by kickstarting a new idea or helping progress an existing idea.
Bree Langemo, director of the Center for Entrepreneurship, is one of the faculty members in charge of the fund. She sits on the governing and grant awarding committee for the Cobbertunity Fund.
“It’s always been hard for us to find entrepreneurs across campus because they’re in every discipline and I don’t have access to every department across campus,” Langemo said.
Students who apply to the fund may receive up to $3,000 as a grant. Langemo referred to this grant as an amazing opportunity to receive free money that doesn’t need to be paid back.
“I think it’s important that the college find ways to support entrepreneurial behavior on campus,” she said. “There aren’t many opportunities like this for students.”
Jordan Petron, the president of the entrepreneurship club, shared similar sentiments.
“If you look anywhere else, you don’t see an opportunity to raise this kind of money for a startup. Especially with other colleges similar to Concordia,” he said.
Petron credited members of the entrepreneurship club with helping make this first year such a success. He mentioned the effort everyone put into hosting table events and designing flyers and the big banners across campus. The entrepreneurship club was already aware of a small network of entrepreneurs on campus. Petron also encouraged club members to spread the word that the Cobbertunity Fund could also help fund already established businesses.
He also mentioned the number of applicants was nearly double what anyone expected because of the newness of the fund.
The fund was conceptualized in 2021 before being announced at a Start Up Brew in 2024. It is currently a collaboration between the Student Government Association (SGA), Scheel Fund and the entrepreneurship club.
Langemo said it was persistence from students that pushed the Cobbertunity Fund from just an idea to actual implementation.
“There were moments when we thought it might be too complicated to do, but students said no and wanted to continue to push through,” she said.
SGA provided the initial $75,000 to start the Cobbertunity Fund, the Scheel Fund manages the money and the entrepreneurship club oversees promotion.
As vice president of SGA, Daniel Davies holds a seat on the grant awarding committee and governing committee to oversee how the funds are being used.
“I’m hoping it (the Cobbertunity Fund) can also work, not only as just a funding source but also as a mentorship opportunity for students to professionally develop their skills,” he said.
Davies also said that the majority of the first grant awarding committee meeting was spent discussing how the college can make the fund meaningful for the students involved and make sure they are gaining life skills from the experience.
Students who receive funding will be required to complete the Cobbers in business PEAK. They will utilize support such as the Small Business Development Center and mentors from the community to help set goals, meet milestones and get insider knowledge about entrepreneurship. Students must also present at COSS to share what they have learned.
Langemo acknowledges a gap in support for applicants who don’t receive funding. She said that there is still a learning curve with the Cobbertunity Fund because this is the first year it has existed.
“Considering this is still new to us too, we’re finding that we might tweak aspects of the process. We know what a good recipient looks like, but we might not have provided the best explanation for a good applicant,” she said. “Going forward I know we’ll need to provide better information to set applicants up for success.”
In January, finalists will be asked to pitch their ideas before those receiving funding are selected.
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