The Founder Institute is looking to help local entrepreneurs in Singapore with a summer 2014 semester. News of the Founder Institute’s return to Singapore was recently covered by Elaine Huang in an e27 article titled Are you the one Founder Institute is looking for in Singapore?
The Singapore chapter of the Founder Institute is seeking roughly 50 prospective entrepreneurs to participate in the program, although director Jeffrey Paine emphasizes that the program is not for everyone. Even after the most talented applicants are selected, many drop out or are kicked out due to its rigor. As Paine explains:
Some people have to travel so they can’t come to class… Some people have an idea then they realize that the idea sucks, and then they can’t make it better, they don’t have another one that is better.
And then, you have those which are system-generated. If you don’t come to class, we’ll kick you out. If you don’t do your assignments, we’ll kick you out.”
According to Paine, those most likely to succeed with the Founder Institute are entrepreneurs completely new to the startup world that have the most to gain from direct assistance from mentors. Paine, ready to weed out potentially arrogant participants, wants these aspiring entrepreneurs to maintain a positive attitude.
You can kind of tell, ‘Ugh, I’m too good for this sh*t.’ Straight away, I’ll figure out what is your name and if I ever see your name, I’ll kick you out right away.”
He additionally hopes that participants bring fresh, unique ideas for a startup. “No more clones unless you cannot get out of your comfort zone.”