finnovation fellowship faqs

We will select up to 18 to participate in the Discovery Module and up to 9 to participate in the Fellows Module. Only the Fellows Module will receive a cash stipend.

For this program, we define “early-stage” as having done your initial research and developing a strategy to launch up to having launched. You can already be operating, but the program is not a good fit for entrepreneurs who have been working full-time on their venture for more than one year, unless they are undergoing a significant pivot.

Yes, those who continue in the Fellows Module will receive a $50,000 living stipend and a $3,000 health care stipend. You must complete the Discovery Module to be considered for the stipend portion of the program.

The $50,000 stipend can be used for living and learning expenses - rent, utilities, transportation, attending conferences, research, etc. The stipend is designed to create some flexibility in your schedule so you can dedicate 20-30 hours per week on your business and fellowship activities. The stipend cannot be used for business expenses.

Applications for our next cohort will be accepted April 30 to June 1, 2025. Finalists will be notified by June 30 and should plan to participate in an in-person interview in July (date TBD). Those who are selected will be notified by August 1 and the program will start on September 2, 2025.

We believe there is power in community between the members of the cohort, so the program structure includes meeting regularly with other fellows and program staff. Additionally, we have reporting requirements and deliverables including the creation of a fellowship plan, business plan, and pitch. You are expected to devote your time and critical thinking skills to the work of the program, which includes attending curriculum sessions, events, and completing the required deliverables. For this reason, the program expects participants to live in the Twin Cities region for the duration of the program.

We are looking for individuals who are knowledgeable and passionate about a social or environmental problem and dedicated to tackling this issue through entrepreneurship. Ideal FINN Fellows have the drive to be a great leader that can bridge the gap between social change and business with an ability to embrace the ups and downs of personal growth and entrepreneurship. A willingness to consider feedback and flexibility in thinking are essential.

In addition to these, here are other qualities that we look for:

Innovation - your idea represents a truly unique approach to addressing the problem.

Impact Potential - this idea could potentially be scaled to impact many individual lives, a community, or systems/structures.

Financial Sustainability - your business will generate revenue by filling a need of paying customers.

Entrepreneurial - you’re realistic about what it means to be an entrepreneur and have demonstrated such qualities as being proactive and a self-starter, resilient, and a critical thinker.

Continuous Learner - you are curious, a great listener, reflective, and have the ability to admit mistakes and apply learning to future situations. 

Leadership - you have demonstrated leadership skills (such as empathy, inspiring/motivating others to action, strategic/forward-thinking, ability to bridge differences in opinion, and self-awareness), and have the desire to further grow as a leader.

First, review the eligibility criteria and make sure you are eligible. Ineligible applicants will not be considered.

Second, complete the application questions.

Third, we require a letter of recommendation which you can either upload with your application, or you can email it to us at info@finnovationinstitute.org. 

Fourth, we require a recent resume.

Optionally, you can share a link to a one-minute video explaining your business and why you think now is the right time for you to be a fellow. The video is a great opportunity to tell us what didn’t get covered in the application questions, and to share a bit about yourself.

To be eligible to apply you must: 

• Be authorized to work in the United States

• Be at least 18 years of age 

• Either currently live in or be willing to move to the Twin Cities Metro Area in Minnesota, and have an idea that will impact individuals or a community in MN 

• Be dedicated to solving a social or environmental issue through entrepreneurship 

• Not be a Bush Fellow during the FINN Fellowship program term 

• Not be related to any members of the Bush Foundation’s staff or board of directors 

• You or your spouse cannot be a government official (click for more details) during the program term 

• Be able to participate in the program on Saturdays from September - December and to dedicate 20-30 hours from January to June, including curriculum sessions during business hours. 

• If your social enterprise is already operating, you are not eligible to apply if: 

  • You or someone else has been paid to work on it full-time for over one year

  • You are not the primary decision-maker 

  • You do not own all the IP, trademarks, or copyrights related to the business should they exist

We do not prohibit people from being active students during the fellowship, however, we do caution you to be aware of the time commitment for the program and ensure you can handle the workload of both.

Everyone who is part of the application review and selection process is required to see a non-disclosure agreement.

This fellowship is designed for individuals, not teams. The living stipend can only go to one person, and much of the curriculum content is focused on individual leadership development. If you have a co-founder or team member, you would have to choose one of you to apply and they would be the only one from your team to participate in the program if selected. The idea is that the fellowship supports one individual to participate full-time in the program. 

No, FINNOVATION Institute does not take any rights or ownership of your idea or business.