Budget Form Guide

The following form is designed to help you identify potential costs associated with commercializing your product. Please refer to this guide in filling out the Budget Form.

Use the following list of resources to help you fill in the Budget Form. When filling out the form, allocate a total dollar amount for each category. Total project budget must not exceed $3,000.00. It is allowable to redistribute up to 20% of each budget line item to another budget line item without I-Corps Sites administrator approval. This budget should be developed together between the Academic Lead, the Entrepreneurial Lead, and the Mentor.

Once complete, have each member of the team sign their approval before returning the form to the I-Corps Sites administrators.

This small amount of funding will give you the requisite NSF funding lineage so that you will be able to apply for NSF I-Corps Teams, which comes with a $50,000 award to do deeper market analysis and proof-of-conceptdevelopment around your technology. In the past 24 months, NSF I-Corps Teams technologies have been 3 times more successful in securing NSF SBIR/STTR funding (Phase 1 awards start at $150,000).

It is your responsibility to be proactive while managing your budget. If you have any questions, please direct them to one of the I-Corps Sites administrators.

Budget Category / Types of Expenses to Include in this Category / How to Charge These Items
Personnel & Fringe /
  • Graduate students (you must include a fringe rate of 44%)
  • Undergraduate research assistants (you must include a fringe rate of 44%)
  • Research assistants (you must include a fringe rate of 44%)
  • Laboratory staff (you must include a fringe rate of 44%)
/ For each type of personnel, process the change in source of funds through your home department and route for approvals through Workday. (Budget is not intended to pay stipends)
Supplies /
  • Prototyping materials
/ Use your LSU LaCarte Card to purchase supplies, following University Procurement Policies. Process expense report through Workday.(Contact Brennan Rodriguez for Workday Grant Account Number)
Purchased Services /
  • Consultants
  • Contractors
  • Contracted proof-of-concept production
  • External testing
/ Process a requisition through Brennan Rodriguez*, Follow University Procurement guidelines. Purchasing Manual(see I-Corps Sites Administrator with Questions)
Travel /
  • Visit potential customers and end users
  • Conferences
  • Trade shows
/ Use our LSULacarte Card to book
Travel, following University Travel Policies. Process expense report through Workday. (Contact Brennan Rodriguez for Workday Grant Account Number)
While traveling use your LSU Lacarte card or own finances:
  • For LSU Employees, submit an expense report in Workday

  • For Non-UA Employees, submit a AS300-NW Travel Expense Request for Non Workers through Brennan Rodriguez*

Other /
  • Training or education in entrepreneurship
  • Any other needed resource
/ Contact Brennan Rodriguez for more information.
* or 615-8938
LSU NSF I-Corps Sites Team:
Entrepreneurial Lead:
Academic Lead:
Business Mentor:
Project Start Date: / End Date:

Project Budget

Operating Funds / Description / Total
Personnel & Fringe / $
Supplies / $
Purchased
Services / $
Travel / $
Other / $
Total Project Budget / $

Approval (Sign Here):

Academic Lead / Entrepreneurial Lead / Mentor

Office Use Only:

I-Corps Sites Administrator / I-Corps Sites P.I.