founder institute: who we are, what we do
TRANSCRIPT
The World’s Premier Startup Launch Program
FI.co | #FIWorldwide
www.fi.co | 01
2
2 BIG Problems with Entrepreneurship
www.fi.co | 01
3
Most people start up without knowing the process and effort involved.
Too much focus on the startup HYPE, and not enough on the PROCESS and HARD WORK
www.fi.co | 01
4
Over 50% of new companies fail in just the first 12 months
Too many companies fail due to critical early mistakes.
www.fi.co | 01
5
The Solution
In 2009, 9X entrepreneur and investor Adeo Ressi created a program to help high-potential Founders build enduring companies through: • a challenging step-by-step
program• strong mentor support• a global network
(Adeo Ressi launching “Mission to Mars” with Elon Musk in
2003)
www.fi.co | 01
6
The Founder Institute Today
50+ Countries
115+ Cities
10B+ Graduate Portfolio
Value
15,000+ Jobs
Created
www.fi.co | 01
7
In 2015 alone…
5 Graduate
companies acquired
$1M+ Raised by
crowdfunding campaigns
$150M+ Raised from
investors in 2015
Investors included: VC-Funded Grads:Crowdfunded Grads:
www.fi.co | 01
8
Why is the Program so Effective?
www.fi.co | 01
9
FI focuses on Three Core Pillars:
PEOPLE TEAMWORK PROCESS
1 2 3
www.fi.co | 01
10
1. PEOPLE
www.fi.co | 01
11
We believe that Ideas are a dime a dozen.
Great companies start with GREAT PEOPLE
www.fi.co | 01
12
The “Predictive Admissions Test”
You don’t need to submit an idea to apply
Learn more: FI.co/DNA
In development since 2008 with leading social scientists
One-hour long online psychographic & aptitude test
www.fi.co | 01
13
“Entrepreneur DNA” Research
Learn more: FI.co/DNA
Over 30,000 people have taken the test (9 languages)
Results have been correlated with the real world performance of 2000+ Graduates
85% accuracy in predicting entrepreneurial success
www.fi.co | 01
14
What do we look for?
Entrepreneur DNA
High Fluid IntelligenceSomeone’s ability to quickly learn a rule set and apply the learned logic to solve novel problems.
Moderate AgreeablenessMeasures someone’s cooperation vs antagonism (the best founders are in the middle)
High OpennessSomeone’s creativity and their propensity to accept risk and challenge accepted norms.
Other TraitsIncluding Emotional Stability, Industriousness, Extraversion, and more.
Learn more: FI.co/DNA
www.fi.co | 01
15
Combine Great Founders + Great Mentors
2:1 Avg Mentor:Founder ratio
Weekly training, feedback, and evaluation
20-40 Top Startup Mentors
Most have built companies before
See Current List: FI.co/mentors
www.fi.co | 01
16
2. Teamwork
www.fi.co | 01
17
Magic happens when talented people work towards a shared goal
www.fi.co | 01
18
The Shared Liquidity Pool
Learn more at FI.co/liquidity
85% Distributed to the local ecosystem
15% Founder Institute
Mentors
25%
DirectorsGraduates
30%
Graduates contribute 3.5% in ‘warrants’ to a 10-year pool
Returns are shared with all members of each cohort (including Graduates)
Everyone is incentivized to help build great companies30%
www.fi.co | 01
19
$1M+ in returns distributed to date
www.fi.co | 01
20
3. Process
www.fi.co | 01
21
Talented People working towards the same goal still need structure
www.fi.co | 01
22
3.5 Month Step-by-Step Company Roadmap
1. Idea 2. Business 3. Launch
1. Orientation
2. Vision & Ideas
3. Research & Cust Dev
4. Revenue Modeling
5. Naming & Positioning
6. Mentor Idea Review
7. Startup Legal & IP
8. Team & Advisors
9. Product Development
10.Mentor Progress Review
11.Sales & Traction
12.Branding & Marketing
13.Bootstrapping & Fundraising
14. Graduation
See Full Curriculum: FI.co/curriculum
www.fi.co | 01
23
Sample Weeknight Session
Weekly Update Individual company progress reports
Mentor TalksMentors share best practices and lessons learned on the session topic
Mentor Q&AOpen Q&A session between Founders and Mentors
Founder Hotseat #1Multiple founders pitch theiridea, plans, and progress for
Mentor evaluation & feedback
Founder Hotseat #2Multiple founders pitch their idea, plans, and progress for
Mentor evaluation & feedback
Post-Session SocialBuild relationships with
Mentors and Peers
1
2
3
4
5
6
See Sample Session: FI.co/sessions
www.fi.co | 01
24
Real Work, not hype
Challenging, weekly company-buildingassignments
Not “homework” – real world milestones and progress for your company
“The Founder Institute is the most raw, “street” program out
there for startups”
- Jason Calacanis (This Week in Startups, initial
investor in Uber)
See Sample Assignments: FI.co/sessions
www.fi.co | 01
25
Course Resources
Step-by-step guides created by top entrepreneurs
Templates for legal agreements, financial models, pitch decks, customer interviews, etc.
Comprehensive glossaries, and top session videos
See Sample Session: FI.co/sessions
www.fi.co | 01
26
Constant Feedback & Evaluation
Weekly Evaluation of
progress, pitch, and
plans
Weekly ‘Founder
Hotseat’ Pitch Review
Sessions
Honest Feedback
(No “Threes” Allowed)
www.fi.co | 01
27
The Founder Institute is hard…
because starting an enduring company is HARDER
#FIpride
www.fi.co | 01
28
Are you up to the Challenge?
Total commitment is 20-30 hours/week
Founders need to meet minimum rating thresholds from Mentors in order to stay in the program
Drop outs can enroll in next semester for free
< 35% Make it to
Graduation
www.fi.co | 01
29
Graduating
www.fi.co | 01
30
Graduate Milestones
Well-formed Company
Advisory Board of Mentors
Significant Product Progress
Leads and Customers
Validated idea &go-to-market
Learn more: FI.co/companies
www.fi.co | 01
31
Graduates join the World’s Largest Network of Startups and mentors
#FiworldwideFI.co/worldwide
www.fi.co | 01
32
$2MM+ in Partner Discounts
www.fi.co | 01
33
VC-Funded Graduate Highlights
UdemyAmericas
• Online platform to create and take courses
• Raised $170+ M
Learn more: FI.co/companies
PEERBYEUROPE
• Web and mobile app to share products locally
• Raised $5+ M
ICARSCLUBASIA
• Web and mobile app to rent your car in Asia
• Raised $100+ M
www.fi.co | 01
34
Bootstrapped Graduate Highlights
SKIMBLEAmericas
• Mobile fitness videos and apps
• 3M+ Active Users
Learn more: FI.co/companies
AUTOREDUCEUROPE
• Marketplace to sell and buy used cars
• Top Site in France
GRIDBLAZEASIA
• CDN service for high traffic businesses
• Sold for $10M+ just 12 months after Graduation
www.fi.co | 01
35
The Positioning
Inspiration Launch Seed-Accelerator Angel/ VC
Aspiring Founders learn the startup basics through a
wide range of events,
competitions and hackathons.
Aspiring and early-stage Founders
create a company and form a
validated idea, plan, team,
product, and strategy for
launch.
Teams with a company, live
product, and some traction acquire operating capital
to prepare for angel funding.
Fast-growth tech companies raise
capital from professional
investors through connections,
platforms and various networks.
www.fi.co | 01
36
In Summary…
www.fi.co | 01
37
the Founder Institute can provide you the structure, mentorship, and
network to make years of progress in just 3.5 months
THANK YOU!!!
Learn More: FI.co
Apply Today: FI.co/join
Free Resources: FI.co/go