The Founder Institute program is tough - and for good reason. It’s designed to simulate the many of the challenges of startup life, as entrepreneurs launch a company in four short months. The level of difficulty also vets serious entrepreneurs from the wantrepreneurs, leaving those left standing fully prepared to brave the storm ahead.
StartupSmart recently highlighted the program difficulty in the article “Why Only a Third of Accelerator Participants Made it Through the Sydney Founder Institute”. This week the Sydney Founder Institute graduated seven new entrepreneurs - a significant reduction from the original 20+ enrolled at the beginning of the semester.
Sydney Founder Institute Director, Benjamin Chong, says the benefit of such a rigorous program, which includes psych testing as part of the entry program, is learning how to become your business’s biggest critic.
“As a startup founder, if you’ve been through the effort of combing through your business and being critical of all the aspects, you can go and talk to customers, investors and suppliers and give them a great deal of comfort because you’ve dealt with a lot of issues,” Chong says.
Greg Jarrett, founder of private aircraft booking system Charter Intelligence, told StartupSmart the dropout rate in the program reflected the pressure to make sure your idea actually has potential.
“The point of the program is that you need to evolve your business idea throughout. You discover if it’s got real potential early on,” Jarrett says.
Click here to read the full article on StartupSmart.
The Founder Institute is currently accepting applications in the following cities;
- Andalucia Autumn 2014 (Exploratory)
- Barcelona Autumn 2014
- Beijing 2014 (Exploratory)
- Brunei Summer 2014 (Exploratory)
- Brussels Autumn 2014 (Exploratory)
- Chicago Autumn 2014
- Denver Autumn 2014
- Dhaka 2014 (Exploratory)
- Hamburg Autumn 2014 (Exploratory)
- Kabul Summer 2014
- Orange County Winter 2014 (Exploratory)
- Paris Autumn 2014
- San Jose 2014 (Exploratory)
- Shenzhen 2014 (Exploratory)
- Tallinn Autumn 2014 (Exploratory)
- Washington DC Fall 2014
- Zagreb Autumn 2014
If you could benefit from expert training and feedback to launch a technology startup, click here to learn more and begin your application now. Don’t see your location? Check back here for updates.