News of the Founder Institute’s Montreal chapter was recently covered by Jacob Serebrin in a Techvibes article titled The Founder Institute’s First Canadian Cohort Graduates in Montreal.
In the first class to graduate from the Montreal chapter of the international startup accelerator, 12 aspiring entrepreneurs completed the program out of the 45 who joined the program at the beginning. The program is intentionally rigorous, designed to weed out those who are less than fully committed to embracing the challenges of entrepreneurship.
Sergio Escobar, a co-founder of the Montreal Chapter, explains,
We kick a lot of asses. If they succeed here, they have the skills to succeed in the real world.”
The Founder Institute is unique to other startup accelerators in that it focuses on training budding entrepreneurs in the early stages of building a company; participants do not always have a fully developed startup idea before beginning the program, and many have not yet quit their day jobs.
Internationally, graduates from the program have launched over 1,185 companies. The Founder Institute, with an 89.5% survival rate of graduating companies, has helped facilitate the creation of thousands of jobs and has ensured the longevity of startups built in the program. LP Maurice, Escobar’s co-founder, says,
The goal of the program is to flip the failure rate."
The Founder Institute is targeted at a slightly older demographic between the ages of 30-40. According to Escobar, older entrepreneurs have more experience and are more likely to persist throughout the challenges of the program.
Between the age of 30 to 40 is the best time to start a company. For young people it’s a game.”
Out of the 12 graduates, three received special recognition for their companies, including Julien Denaes, Mazen Elbawab, and Francois Poirier. Denaes’s company Loggr is an “identity platform for cloud services” that utilizes smartphone QR codes for logging in, eliminating the need for passwords. Elbawab, founder of Haddoko, is developing a “smart compression suit” that allows people to track their movements during sports. Poirier’s company MakerBloks creates toy blocks designed to teach children to build electric circuits.
The Founder Institute’s next semester of the Montreal chapter begins in six months.
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