The New Leaf Initiative and Penn State’s Lion Launch Pad are teaming up to support student start-ups.

Termed the NL3 — New Leaf-LionLaunchPad — students are invited to pitch their respective startups on Tuesday, Sept. 9 from 5:00 to 6:30 p.m. at the New Leaf Initiative on the third floor of the State College Borough Municipal Building.

Start-ups will be able to present a 90-second pitch highlighting the team’s product, as well as reasoning as to why New Leaf’s services would be beneficial to the start-up’s effort.

Six teams will then be selected for the fall semester as NL3 start-ups. Teams will have access to approximately seven hours of weekly co-worker access to New Leaf facilities and products, and will be eligible for a $500 grant. The exposure will allow the selected teams to further develop their product.

We took a look at New Leaf as it moved into its new space last year, when it moved to a business model more focused on co-working space, which allows for young companies and organizations to rent out cheap office space without the hassle of taking care of the phone bill, furniture, or acquiring meeting space.

Its listed services also include being an idea accelerator that quickens the transition of “formational ideas from conception to implementation and connect those ideas with the right resources in our community.”

Similarly, the Lion Launch Pad works to help student entrepreneurs transform their ideas into real life start-ups. They offer grants, loans, and equity investments to start-ups along with matching student teams with skilled professionals based on their needs. The organization also helps student teams receive angel funding or move onto next-level accelerator programs like TechStars and DreamIt Ventures.

If your team is interested in participating in the event, you must sign up at New Leaf before 5 p.m. on Monday, Sept. 8 for the opportunity to present.