Is it better to apply sooner rather than later to the Institute?
Yes. Applying earlier to the program is better, since applications are being processed in the order that they are received. The Institute is limiting the number of in-person and online Founders in the first Semester for a number of reasons, 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. The Institute received one third of the target number of applications in less that a week.
Who is behind the Founder Institute?
The Founder Institute, Incorporated, is a Delaware C corporation formed on April 16th, 2009, by Adeo Ressi. Adeo currently heads the Institute, while also being Founding Member of TheFunded.com. The Insitute is the eighth business that Adeo has founded, starting with Total New York in 1994, which later was sold to AOL becoming Digital Cities. Adeo has been involved in founding companies across digital media, strategic consulting, video games, and space exploration.
How does the Microsoft BizSpark Fellow Scholarships work?
Any Founder working in any industry can request to be one of the five Microsoft BizSpark Fellows. Applicants can either (1) explain the reason that they are interested in one of the Fellow positions in Field 1 of the application, "Write 2-4 paragraphs on why you want to be an entrepreneur," or, (2) once an applicant is accepted into the program, the Founder can also request to be a Fellow at that time. All Fellows need to cover the $50 application processing fee, but BizSpark will then subsidize the $450 course fee for accepted Founders. There will still be some costs associated with setting up the business, such as incorporation fees, that are not specifically covered by the BizSpark Fellow Scholarships, though many of these costs will be minimized or eliminated by other Institute partnerships.