The application cycle for cohort #5 of the BIT Program will open July 2019.

Cohort 5 meets September 2019 – December 2019 on Thursday evenings from 6:00 – 8:00 pm.

To apply candidates must:

Be a permanent resident of Illinois
Complete online application
Attend mandatory information session
Submit written concept submission including target market, price point, value proposition, stage of development, and analysis of competition and funding needed with 5 days of your application.
Complete an admissions interview

SELECTION PROCESS

Upon review of application, candidates that are not ready for engage in a BIT cohort and may be referred for consideration to the Business Start-Up Training Program for mastery of business fundamentals and then join BIT when they have a deeper understanding of these principles. In rare cases applicants will be allowed to participate in the BIT program simultaneously with the Business Start-Up Training program.

Applicants that live or operate a business on the West Side of Chicago will given priority consideration. The overall quality of the business and leadership capability will be heavily weighted. Candidates will be evaluated and selected during the Shark BITE presentation portion of the application process. A panel of judges with expertise in various areas of business, will evaluate applicant’s presentations to select the next cohort of the BIT program. Each candidate is evaluated on their presentation, understanding of their competition and marketplace, complexity of their product as it relates to our network and ability to help them, business acumen, background, experience and commitment to follow through.

Each candidate who applies to the program enters in one of the five following buckets. The objective of the program is to move each student through each bucket successfully until their product is brought to market.

PROGRAM REQUIREMENTS

Upon acceptance into the program each applicant must meet the following criteria:

Work with the instructor to develop and execute a 90 day action plan
Attend a minimum of 5 of 7 sessions and workshops held bi-weekly for 3 months.
Must be able to commit to 12 hours of classroom training (six 2 hour class sessions every other Thursday evening) for a total of at least 45 hours of participation (training, counseling, and related preparation) over a 90 day period
Must complete a minimum of 75% of all tasks developed in the 90 day action plan
Must complete a revenue model, break-even point and budget for tech development, launch and sustainability.
Must participate in at least one pitch event in Chicago outside of BIT program.

POST COMPLETION SUPPORT

Upon program completion students become members of West Side Forward's alumni network entering into a larger entrepreneurial tech network. Students have lifetime access to Bethel/West Side Forward resources, workshops and counseling as long as their membership is in good standing. Membership can fall out of good standing for any one of the following reasons:

Failure to adhere to maker space usage policies and guidelines.
Theft of materials or property
Failure to participate in Bethel events, workshops or free activities for more than 2 years
No show at two or more scheduled appointments within 12 month period

Click here to apply for the BIT Program.

4 Sessions | All Free | For Chicago Residents

Participation in all sessions is not required, but is highly recommended.

Mechanics of Starting A Business

Using Your Talents to Create Products

Business Finance

Operations and Marketing