Universities can greatly increase the chances of startup success by incubating these new companies. Universities can provide free/low-cost workspace and services to student businesses, reducing early hassle for startups and allowing them to focus on meaningful growth.26 votes
Universities can encourage startups through business plan competitions. This creates a startup-friendly campus culture and gives much-needed seed funding to winning businesses. For example, Howard University awards $5,000-$10,000 to its business plan competition winners.
Winning proposals could also be segued into incubator and/or accelerator programs to increase the startups’ possibilities for success.9 votes