The Imagine Discover Realize (IDR) Grant Program
The Pacific Asian Center for Entrepreneurship (PACE):
Imagine, Discover, Realize Grants
The IDR grants program allows students the opportunity to explore the process of business creation through commercialization. The program assists students through three phases of business development: Imagine (creation), Discover (feasibility) and Realize (commercialization).
These $100 grants are awarded to students who have a new idea for a product or service which satisfies a market need, but are unsure whether a business can be created around the idea. The Imagine grant is open to all students within the UH system regardless of their major. Applicants may submit multiple entries, however, individuals may not be awarded more than one Imagine Grant per year.
- Imagine Grant Process
Applicants will compete in the UH Breakthrough Innovation Challenge (BIC). Individuals or teams must submit a 2-minute video that describes their innovation and its commercial potential. Competitors who qualify for the finals, must then pitch their innovation to a judging panel. BIC finalists, who complete these stages of the Challenge, will receive a $100 Imagine grant as an incentive to further pursue their business idea. Teams must decide how to divide the award.
This grant is geared toward students with a specific business idea in mind. The business must provide a unique product or service to a clearly articulated market. The $500 Discover grant is provided in exchange for a satisfactory executive summary and business plan for the proposed business.
- Discover Grant Process
Applicants will compete in the Spring UH Business Plan Competition (BPC). In February, applicants must submit an Executive Summary of the proposed business. The Summary must meet all the criteria set by the BPC committee. In April, applicants must submit a business plan that meets the criteria set by the BPC. Teams must also present a business pitch during the semi-final competition. Teams that satisfactorily complete these stages of the BPC will receive $500 to further develop their business plans. Teams must decide how to divide the award.
These $1,000 grants are awarded to students who have a gone through the process of testing the feasibility of their business idea. The grant is open to all students within the UH system, regardless of their major.
- Realize Grant Process
Applicants must qualify for the finals of the UH Business Plan Competition. They must also present their pitch to a panel of judges at a final event. In order for the team to receive the Realize grant, it must provide the PACE office with official legal documentation of incorporation. It will then be awarded $1,000. Teams must decide how to divide the award.
Applicants must complete the requirements of the PACE Entrepreneurs program. Participating students must attend mandatory group meetings and submit a short paper that reflects on the program's worth. Students who stay with the program through the Spring semester, and complete the requirements will receive a $1,000 to help in the pursuit of their entrepreneurial aspirations.