2. They aren’t cheap. Submitting an application costs $50 up front. Founders who actually make it to the program pay $900 for the 16 week course (this covers all course costs and 14 plus meals). The founders who graduate are asked to contribute warrants for 3.5% of their company priced at fair market value into the shared equity Bonus Pool that is split between the other Graduates, the Mentors, and the Institute. And, finally, if the company is successful and raises any significant amount of outside funding, the Institute asks for an additional $4,500 to help the Founder Institue grow.
3. They might be worth it. Going through the program at the Founder Institute is tough stuff. It’s not easy and it’ll be a pretty penny if you actually make it, but it just might be worth it. Take a second to consider what you get out of this course: the four month program has weekly company-building assignments guided by a network of over 500 Mentors that are business founders themselves. The topics of the weekly lectures range from Startup Legal to Fundraising. I think Dave said it best, “You will have to do this stuff to start up your own business eventually, The Founder Institute gives you the push to do it faster and better than you would have on your own.” Not to mention, if you are a graduate, you get 1% of the Bonus Pool of your graduating peers – not too shabby!