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About the Lang Fund Selection Process
Established in 1996 with a $1 million gift from Eugene M. Lang, MS '40, the Eugene M. Lang Entrepreneurial Initiative Fund fosters an entrepreneurial environment at Columbia Business School by providing early-stage investing opportunities to qualifying student business initiatives. It also allows the School to share in the success of funded ventures through negotiated equity or other participation.
The Lang Fund Selection Process offers graduating students serious about launching a business upon or shortly after graduation the opportunity to present their plan to a panel of judges who together help select which students will advance to present to the Lang Fund Board of Directors. A select number of students will have the opportunity to make a formal presentation followed by Q&A. Approximately five companies will be selected from the event to present to the Lang Fund Board for investment consideration.
- Application period: March 19-April 2, 2018, NOON EST
- The Lang Fund Selection Process will take place on Friday, April 13, 2018.
- Approximately five companies will be selected from the Lang Fund Selection Process to present to the Lang Fund Board for investment consideration on Tuesday, May 8, 2018.
Graduating students who intend to work on their ventures full time after graduation are eligible to apply for funding from the Lang Fund Board. In order to apply for the selection event, the following criteria must be met:
- Graduating by May for MBAs and August for EMBAs
- Five to seven page executive summary outlining venture
- Completed application highlighting venture accomplishments and intent to work on venture full-time
- Participation in due diligence process with Venture Fellows
The application period has passed.
Conditions of Investment: In order to provide more access to seed funding in a venture’s early stages, the Fund will make an immediate initial investment, typically in the amount of $25,000-50,000, in the form of a convertible demand note in ventures that meet its investment criteria. This criteria requires that ventures have a viable business plan with good chances of success and a full time commitment by the graduating student to the business as its owner or prime mover. The Fund retains the right to make an additional equity investment in the business when the business raises its first round of equity backed by professional investors.
The Board retains sole discretion for deciding which businesses it will fund each year and may decide in a given year to forgo the funding of any projects if none of the ventures presented meet its investment criteria.