SIOY provides up to $400 of funding to help teams successfully develop a product that can compete in the SIOY competition. Funding is for approved materials and supplies to build and test a prototype.

• Attend mandatory events. A team member must be present for the Speed Mentoring and Showcase events or funding will need to be returned.
• Use funds properly. Funding must be used according to what is approved in your Bill of Materials. Any changes must receive approval by the SIOY director prior to purchasing updated items.
• Submit receipts. All receipts must be submitted by the day after Showcase. Unspent funds, defined as anything for which receipts are not provided, and funding used on non-approved items will be returned to SIOY.

• Physical materials
• Digital expenses (See Appendix Section 1.2)
  Examples:
  
  • Software licenses
  • Server space
    
• Paying for help with manufacturing processes (See Appendix Section 2.1)
  Examples:
  
  • Welding
  • Cutting
  • 3D printing
  • Sewing

• Paying someone to help with digital creation (See Appendix Section 1.1)
  Examples:
  
  • CAD design
  • Coding
  • App/website/software creation
• Purchasing machines to manufacture products (See Appendix Section 2.2)
  Examples:
  
  • 3D printer
  • Welder
  • Laser cutter
  • Sewing machine
• Team member salaries/wages to work on the project (See Appendix Section 3.1)
  

Example: You are building an innovative, vibrating alarm bracelet for deaf individuals. We would not provide funding for you to buy a 3D printer to make the bracelet casing or pay a team members wages. We would, however, give funding for materials and supplies to make prototypes of the bracelet.

• Create a Bill of Materials spreadsheet file and upload it on the application (template included in the SIOY Application). See the spreadsheet example below. Include:
  
  • Materials and other allowable purchases
  • Description of why each item is needed for the prototype
  • Supplier of each item
  • Justified dollar amounts for each item
  • Quantity of each item
  • Tax & shipping costs (estimated)
  • Total dollar amount (sum of all materials/services/equipment listed)
  • URL to purchase site (if applicable)
• All applicants may receive a maximum of $400 from SIOY; however, funding will only be awarded for allowable and properly justified amounts.

1.1: We typically do not offer funding for these services. There are two reasons for this. The first is because there are many students on campus who have learned these skills and we think the best course of action is for you to recruit them to your team! Second, developing computer software is a very popular idea. It is not an option for SIOY to provide funding for every team to pay someone else to create their app/website/software product.

1.2: If your team is creating your app/website/software yourselves and there is some barrier to entrance let us know by providing as much detail as possible and we will often be able to provide the needed funds.

2.1: We will often provide funding to pay for a service to help fabricate the prototype. If this service can be done on BYU campus, we expect your prices to match those of BYU. We allow funding to be used for these services because they are less common on BYU campus. However, we would like the design work for your product to be completely original to the team.

2.2: Due to a limited amount of funding, we will not provide funding for purchasing machines that can be accessed by renting or paying for the service (as described above). Typically during the course of the SIOY competition, the cost of iterating using the resources on campus will not exceed the cost of the machine.

3.1: We do not provide funding to pay employee or team member salaries or wages. For example, salaries associated with someone on your team or in your company (if applicable) are not to paid with these funds.