Frequently Asked Questions
All applicants are encouraged to review our comprehensive Frequently Asked Questions section before beginning the application process. The FAQ section has been organized by subject matter for your convenience:
- Description of Fellowship
- Eligibility
- Application
What is the Education Entrepreneur Fellowship?
The Mind Trust’s Education Entrepreneur Fellowship is a nationally unique incubator for transformative education ventures designed to solve public education’s most vexing problems. The Fellowship offers promising education entrepreneurs the opportunity to develop and launch their break-the-mold education ventures. The Mind Trust, which invests approximately $250,000 in each Fellow, provides Fellows the freedom to innovate and the comprehensive support necessary to succeed. During the two-year Fellowship, Fellows receive a full-time salary ($90,000/year), full benefits, a $20,000 start up stipend and the professional support and mentoring necessary to turn a promising idea into a successful educational venture with large-scale, transformational benefits for children in Indianapolis and throughout the nation. Fellowship ventures target underserved or disadvantaged populations with solutions that attack the root problems in the delivery of public education. The Fellowship is for people who envision entirely new approaches to the challenges of public education and who possess the entrepreneurial skill necessary to turns their ideas into reality. Fellows join a community of education entrepreneurs dedicated to forging dramatic change in public education nationwide
To participate in the Fellowship program, do I have to live in Indianapolis?
No, Education Entrepreneur Fellows do not have to live in Indianapolis. However, Fellows are required to participate in regular check-in meetings with The Mind Trust Board of Directors and staff as well as cohort events with other Fellows in Indianapolis. The Mind Trust hopes to foster collegial and collaborative relationships among the growing community of education entrepreneurs doing work in Indianapolis. Fellows will also need to spend any additional time required to successfully launch their initiatives in Indianapolis (as they will need to do in all cities included in their initial launch plans). The $20,000 stipend Fellows receive may be used for travel to and from Indianapolis.
What is an education entrepreneur?
Education entrepreneurs develop new approaches to tackle society’s greatest challenges in radically new ways. They drive some of the most compelling improvements in educational outcomes for chronically underserved children. Ventures like Teach For America, College Summit, New Leaders for New Schools, The New Teacher Project and the Knowledge is Power Program (KIPP) are prime examples of their work: the leaders of these organizations have transformed the educational experience of thousands of children and have changed our very conceptions of what is possible in the nation’s public schools.
What type of training and support is provided through the Education Entrepreneur Fellowship?
The Mind Trust individually supports each Fellow, both financially and professionally, with the resources and guidance necessary to develop and launch the Fellows’ ventures.
- Fellows receive a $20,000 stipend over the course of the two-year Fellowship to support their work. This stipend may be used for customized training, travel or other reasonable purposes that advance their initiatives.
- Fellows are matched with a local “Champion” who can provide guidance, support, and access to people or groups necessary for the Fellow’s success. Champions (likely to be senior-level business and community leaders) are committed to the Fellow’s work and success. They recognize that education entrepreneurship can bring about transformative change in public education; they champion this cause.
- Fellows receive ongoing support from The Mind Trust’s Board, staff and advisers at every stage. This support may include (but is not limited to) introductions to education leaders, policy makers, community leaders, local media and potential funders in Indianapolis; advice and support on developing a fundraising strategy in Indianapolis; advice and support in organizational development, including structure, governance, and accountability issues.
- Fellows are a part of a growing community of education entrepreneurs in Indianapolis and participate in events to share ideas and resources as they develop their initiatives.
Does a Fellow’s idea for a new initiative remain the Fellow’s intellectual property during the Fellowship or does the idea become The Mind Trust’s intellectual property?
Fellows’ ideas and initiatives are their own. Fellows own their initiatives and are ultimately responsible for the success of their initiatives. Upon completion of the two-year Fellowship, the Fellow has no ongoing responsibility to The Mind Trust; however, it is The Mind Trust’s expectation that the Fellow will continue to lead the initiative that he or she incubated and developed with the support of the Fellowship. Moreover, while The Mind Trust’s financial support of the Fellow ends with the conclusion of the two-year Fellowship, The Mind Trust intends to continue its non-financial support of the Fellow indefinitely.
Who employs Education Entrepreneur Fellows, and are Fellows eligible for employee benefits?
Education Entrepreneur Fellows are full-time employees of The Mind Trust for the two years of the Fellowship. They are eligible for medical, dental and retirement benefits. The Fellowship is a full-time responsibility: Fellows may not have additional employment, consulting contracts, or other professional responsibilities. Note: The Mind Trust may need to make adjustments to the employment packages of Fellows not based in Indiana to comply with state law and/or other factors, including but not limited to, the cost of employment.
Upon completion of their Fellowship, what do Fellows go on to do?
At the end of the two-year Fellowship, Fellows are expected to launch and lead the initiatives they used the Fellowship to incubate and develop. Initiatives are expected to be self-sustaining after the two years of the Fellowship. The purpose of the Fellowship is to give education entrepreneurs an opportunity to design and launch new education initiatives that will be sustained over an extended period of time. The Mind Trust’s financial support of the Fellow ends when the two-year Fellowship is over, but its non-financial support of the Fellow will continue indefinitely.
What is the total compensation Education Entrepreneur Fellows receive during the two-year Fellowship program?
During the two-year Fellowship, Fellows work full-time as employees of The Mind Trust developing and incubating their ideas to transform public education. Fellows receive a $90,000 annual salary during the Fellowship and a full benefits package. In addition, Fellows receive a $20,000 stipend to support their work. This stipend may be used for customized training, travel or other reasonable purposes that advance the Fellow’s work. Note: The Mind Trust may need to make adjustments to the employment packages of Fellows not based in Indiana to comply with state law and/or other factors, including but not limited to, the cost of employment.
Do Fellows receive office space in Indianapolis?
Yes. Fellows will have access to office space at The Mind Trust. While working in Indianapolis, Fellows will be provided desk space and access to a computer, phone, printer, copier, conference room and other office amenities. Fellows will work in close proximity to a growing network of education entrepreneurs in Indianapolis, including other Education Entrepreneur Fellows and staff from Teach For America, College Summit, and Building Tomorrow whose offices are located in the same building as The Mind Trust’s.
Does The Mind Trust oversee and evaluate Fellows’ work over time?
Yes. Each Fellow is required to draft an accountability plan that provides both a high-level overview of his or her venture as well as specific benchmarks and implementation measures necessary for success. A key purpose of the accountability plan is to ensure that the Fellow’s initiative is self-sustaining by the end of the two-year Fellowship. Each Fellow is required to make quarterly presentations to The Mind Trust’s Board, staff, advisers, and other Fellows on their progress and to elicit guidance and constructive feedback. Fellows must make substantial and sustained progress toward implementing their ventures in order to retain the Fellowship.
Does my initiative need to include Indianapolis?
Yes. The Mind Trust has a unique focus on and commitment to Indianapolis. We believe that the key to systemic reform is to concentrate many transformative education innovations in one place. We fully expect and hope that many initiatives launched by Fellows will extend regionally or nationally. Fellows, however, must include Indianapolis in their initial growth plans to be considered for the Fellowship.