Support for industry working professionals planning to start their own business

During the last years the number of support programmes for start-ups rose. The effect is clear. Ambitious young companies grow faster and find investors easier. All the existing programmes address students and PHD students from universities. But most businesses are started by people with some years of professional experience.

Founders Institute is a global network of start-ups and mentors that helps working industry professionals launch technology companies. Through its curriculum, a four month incubator programme, founders can launch their company with expert training, feedback, and support from experienced start-up CEOs. The curriculum takes place during the evening. It’s not necessary to quit the job to participate. The programme is not only a crash course for founders. Through it participants will also get access to an international network of entrepreneurs and investors.

Obviously there is a huge demand for the programme. The Founder Institute started three years ago and is already active in 22 countries on all continents. It helped to launch more than 500 companies with huge potential: More than 40% of them were able to close a Series A funding round.

In Switzerland Jasper Bouwsma (Vujade) and Steffen Wagner (investiere.ch) launched the Swiss branch of the Founder Institute End of March with a bootcamp. The first Swiss curriculum is planned to start on 21 May. Mentors who will share their experience in the curriculum are among others Amir Suissa, Founder of Deindeal and Alfonso von Wunschheim, former CEO of e-sider.com and local.ch. The team of mentors will be completed with serial entrepreneurs from other countries.

People interested in the programme can complete an interest form. The next step is an admission test. Taking the test is free and causes no obligations. People who passed the test will then be invited to the curriculum.

The Founder Institute is trying to keep its costs low and is financed by sponsors, fees and a profit sharing scheme. The fee for the curriculum is CHF1100. In addition graduates from the programme are asked to contribute warrants for 3.5% of their company into the shared bonus pool that is split between the Institute, the mentors and the other graduates. Sharing warrants ensures that mentors, other graduates and the Institute profit from the success of a company which is supported by the Institute. But because the start-ups are contributing warrants instead of shares the Institute, graduates and mentors do not get the rights of shareholders. Lastly, if a company is successful and receives significant financing from third parties, the Institute asks that the start-up pays a one-time tuition of USD4500 for the real costs of the curriculum and for growth capital for the Institute. 

The financing may sound a little complicated at first sight. But experience has shown that it works. The network between the different players is strengthened by the profit sharing scheme. And one company that was supported by the Founder Institute had already realised an exit. Mentors, other graduates and the Institute got a return on their initial investment.