A number of questions have been submitted over the last 24 hours, and below are answers to the most common ones. If you have other questions, please use the Feedback link at the bottom of the page. Thank you!
- I am located outside the United States. Is the program worth participating in?
Maybe. The Summer 2009 Semester starting in May has a range of information being presented that is specific to the US market, including incorporation, patents, and employment. If you are planning to build a startup or a subsidiary in the US market, then the program makes sense. Otherwise, it might be worth waiting. The Institute plans to expand internationally, hopefully starting in 2009. The first markets being considered are the United Kingdom, Germany, and Israel.
- I have an existing company. Should I apply?
Founders with existing incorporated businesses are invited to apply. Sessions include company-building assignments, such as developing your idea, planning the offering, recruiting a team, and incorporating. As a company becomes more developed, the sessions become less useful. The Institute recommends that applicants with incorporated businesses have companies that are less than two years old and do not have a fully developed product or service.
- I may not be able to attend all of the sessions in person. Is that OK?
Yes. The Institute supports founder participating from different locations and allows those participating in person to miss sessions. Every session will be recorded and made available online. Mentors interact with founders and answer questions with online tools, and most services provided by the Institute will be available to participants in remote locations. There will even be strategic opportunities for founders who participate remotely to attend gatherings in person.
- How many founders will be in the program?
The Institute plans to accept between 75 and 100 founders for the Summer 2009 Semester. A number of factors encourage limiting the group size, such as the capacity of reserved meeting facilities, the ability to deliver a meaningful mentorship experience, and the quality of the shared upside among participants.
- I applied, but did not receive an email response. Did you get my application?
Yes. After you successfully apply, you will be logged into the Founder Institute site. On the right hand side, it should say: "Semester: Summer 2009 Bay Area, Role: Founder, Status: Applied." This indicates that you application has gone through. As the Institute processes applications, your status will change to "Reviewing," "Accepted," or "Rejected." The Institute will email you with your application status once it changes.