One of the most distinctive tenets of the Founder Institute is the unique application process, which, as many of you may know, includes an hour-long aptitude test. A bit unconventional compared to our peers, the test aims to measure the success of potential and current participants of the Institute.
Our unique approach sparked the curiosity of Forbes writer J.J. Colao, who recently wrote an article entitled “Can An Hour-Long Aptitude Test Predict Startup Home Runs? Adeo Ressi Thinks So”. Colao interviewed the Founder Institute’s CEO, Adeo Ressi regarding the institute and the test, digging to the premise behind why it is an integral part of enrollment.
The basic premise of the test was originally to eliminate admissions bias - the fact that venture firms funded mostly 20-something white male Ivy League grads annoyed Ressi, hence he sought to develop a means of introducing diversity to the startup ecosystem. With over two years in use and over ten thousand test results measured, the Founder Institute and the test’s developer have determined that “entrepreneurs have more in common with artists than they do with managers" and don't always score highly on IQ or conscientiousness. A somewhat surprising find that indicates successful entrepreneurs lean more towards open mindedness, “a Big Five [personality] trait associated with curiosity, creativity and a penchant for novelty."
Any practice that is viewed as out of the ordinary naturally evokes some amount of skepticism, however, so far the the test has proven to be highly successful, and a great asset for predicting entrepreneurial success. To learn more about the aptitude test read the full article on Forbes here. The article will also appear in the December 10th print issue of Forbes Magazine.