Frequently Asked Questions

How can we get funding for our startup?

New startups will be selected to join the Hatchery each fall semester. Fall 2024 applications have closed. Check back in Fall 2025 for the next round of applications!

How much funding do you offer?

We offer grants up to $10,000 per team per year, with the possibility of renewal. We do not take equity for the grants and, as such, they are not an investment.

What can we spend the funding on?

Business-related expenses (not personnel). Funding cannot be used for salary/payroll for yourself.

How is the Hatchery different from other startup accelerators?

First and foremost, the Hatchery offers exclusive, permanent, dedicated, and locked space for founding teams to run their companies. The Hatchery is an educational accelerator designed to support UMD student entrepreneurs and help them accelerate their progress toward validating their target market and starting to build a viable, sustainable venture. We offer a customized, coaching-based approach, meeting teams where they are and helping them succeed. Our accelerator does not take equity from founding teams, but does require them to sign a pledge to “pay it forward” if/when their company has liquidity.

What kinds of teams are you looking for?

Companies at an early stage. Students might have joined the Startup Shell or the Dingman Competition, worked on a project in a course, or worked on the side with fellow students. You don’t have funding (not much, anyway), but you have made enough progress that the Hatchery will be an excellent learning and growth opportunity. We are looking for teams that balance both technical and non-technical skills.

What is required of my team once I am in the accelerator?

We are looking for teams that are able to work for the entire academic year and are prepared to contribute to the community of teams in the Hatchery. Traditionally, teams will work in the Hatchery’s dedicated working space that’s available 24/7 in the Brendan Iribe Center for Computer Science and Engineering. Teams must engage in Hatchery programs and events, as well as actively share and learn with other founders in the program.  Additionally, teams are required to meet bi-weekly with the mentors and attend other Hatchery events throughout the year.

Will you sign an NDA?

No. If you don’t trust us, you probably are not right for the program.

Do all of my team members have to be current UMD students?

No. At least one team member must be a Computer Science student at the University of Maryland. Preference is for other team members to be current UMD students or students who graduated from UMD the spring before the team applies to the Hatchery. If a team consists of members that are not UMD students, multiple variables will be considered during the application process, including but not limited to, proximity to campus, whether the member is a founder, and whether a non-UMD team member is on a F1 Visa (due to building access restrictions).

Our group has two ideas. Can we submit two applications?

We don't recommend it. You should pick your favorite idea and apply with that one.

Will you fund multiple startups working on the same idea?

Yes.

Do you only fund tech startups?

Yes, but we have a broad definition of “tech.”

Can a single person apply for funding?

No, teams must have at least two members and at most four members.

I have a great idea for a startup, but I'm not technical. Will you still fund me?

It's important for the founding team to have the skills to build their product themselves, rather than outsourcing it to someone else. For most businesses, that usually means you need a technical co-founder. 

Do we need to incorporate before applying?

No. However, you will need to before you can receive funding.

 Can we apply more than once?

Yes. If you apply this year and don’t get in, we strongly encourage you to apply again. Having made progress since your last application is a strong signal to us.

Do we need to know someone at the Hatchery to get in?

No.

If we participated in another accelerator, program or competition, can we join the Hatchery?

Yes. However, if you've done another accelerator, program or competition already, we may expect that you've reached a higher level of progress.