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Founder Institute General Presentation
The Founder Institute is the world's largest startup accelerator, offering a 4-month program that helps aspiring entrepreneurs launch their companies without quitting their day jobs. It features a unique admissions process based on social science and provides expert training through a structured curriculum led by seasoned mentors. The program aims to create a global network of meaningful technology companies, boasting over 1,100 graduates and a low failure rate among participants.
Founder Institute General Presentation
- 2. What is theFounder Institute? • The World's Largest Startup Accelerator, with over 1.100 graduate companies across 55 cities, 33 countries, and 5 continents. • Through a 4 month program, you can launch your dream company with expert training, feedback, and support from experienced startup founders and CEOs - while not being required to quit your day job. • FI goal is to globalize Silicon Valley and launch over 1.000 meaningful and enduring technology companies per year.
- 3. Where do wefit in?
- 4. The Problem • Startingand running a new company is hard • There is no playbook • Success is rare • We want to help entrepreneurs avoid deadly mistakes
- 5. Our Philosophy • Ideasare largely irrelevant • Great companies start with great people • Great People + Expert Training + Aligned Incentives = Exponentially Better Chance of Success
- 6. How Do WeFind Great People? Social Science-Based Admissions • Proprietary aptitude/ personality test to apply • Developed by leading social scientists in conjunction with FI • Removes idea evaluation and other subjective bias from admissions process • Featured on CNN Money.com – “ Predicting Entrepreneurial Success” (Aaron Patzer)
- 7. Expert Training Phase 1:Idea Refinement Phase 2: Business Setup Phase 3: Launch Planning 1. Startup Basics 2. Vision/ Values 3. Startup Research 4. Naming/ Branding 5. Mentor Idea Review 6. Startup Legal/ IP 7. Cofounders/ Hiring/ Firing 8. Revenues/ Costs/ Profits 9. Product Development 10. Mentor Progress Review 11. Outsourcing/ Suppliers 12. Marketing/ Sales 13. Presentation/ Publicity 14. Fundraising 15. Graduation • 4 Month Curriculum • 3+ Mentors / Session • Emphasis on Group Work and Constant Feedback/ Evaluation • Not Required to Quit Your Job • ~ 20 hrs / week commitment
- 8. … Taught bySeasoned Founders - Nolan Bushnell (Atari) - Peter Guber (Mandalay Entertainment) - Bram Cohen (BitTorrent) - Jonathan Abrams (Friendster) - Naval Ravikant (VentureHacks) - Will Bunker (Match.com) - Jake Nickell (Threadless) - Gregg Spiridellis (JibJab) - Luke Beatty (Associated Content) - Dan Shapiro (Ontela/Photobucket) - Glenn Kelman (Redfin) - Elon Musk (PayPal, Tesla) - Marc Pincus (Zynga) - Jeff Dachis (Razorfish) - Jason Calacanis (Mahalo) - Scott Heiferman (Meetup.com) - Aaron Patzer (Mint.com) - Michael Arrington (TechCrunch) - Jon Nordmark (eBags) - Phil Libin (Evernote) - Jordan Greenhall (DivX) - Phillip Kaplan (Adbrite, Blippy) 3.000+ Global Mentors
- 9. … With IncentivesAligned Shared Equity Bonus Pool • Founders contribute 3.5% in warrants to a Bonus Pool shared between all participants – 40% goes to the Founder Institute – 30% to Mentors (their individual shares based on anonymous ratings from students) – 30% back to the Founders themselves (you own a piece of your fellow graduating companies) • Amazing things happen when smart people work together towards a common goal Creating teamwork-based, local startup ecosystems = Globalizing Silicon Valley
- 10. The Result: 1.100+Companies already • 1.100+ Founders graduated • 41% receive funding within 6 months • Only 11% of companies fail in the first 18 months
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- 12. Questions? We want youto help us launching FI all over the world!