March 30, 2019

Founder Institute Program Experience

Has anyone gone through the Founder Institute program? I just got accepted to the SF program, but I was curious to hear if anyone has done it and what your experience was like.

It seems great but also costs $1800 and 4% of the company. Any insight from the community would be great.

Also if your in the bay area, apps close soon. https://fi.co/

  1. 3

    Seems a bit rich. You have to pay $1800 + they take 4% equity?

    1. 1

      Yeah it seems to be an expensive way to buy into a network. Seeing how I don’t have one though is why I might do it. The mentors do look legit

      1. 1

        Wouldn't try and promote my network if I didn't think it could help you. Consider signing up to www.growthmentor.com and building relationships with mentors that way. Sure beats giving equity. Lots of awesome mentors there that you can book calls with at no cost, too.

  2. 1

    Follow up - I did not end up joining. I joined a webinar and was just not impressed. Also I found out that you only get 2 sessions to decide before having to get your refund, I thought it was 3. I don't think 2 is enough especially since the 1st one is an intro. I think this would be have been good if you just had your idea.

  3. 1

    I would steer clear. I tried it when I moved to LA as an attempt to bootstrap my network here. The entrance bar seems to be pretty low and the input you'll get is the same (if not inferior) than attending Startup School (or even just watching the lectures on YouTube). Then you'll have to think about what you'll get out of it and see if it makes sense for your situation.

    1. 1

      yeah I did startup school this summer which was awesome. The advantage I see with founders institute is the structure I got a lot done during startup school and it’s been slower after.

      Their bar is kinda low as it’s ment as a pre accelerator. It probably would have been perfect 3 months ago

  4. 1

    Imho you shouldn't have to pay for your network, I think you know your startup is on the right track when you organically attract mentors and future customers.

    1. 2

      In terms of paying I think it’s similar to a fraternity. I can get customers, but getting intros to investors is where I need some coaching. But I also haven’t hustled in that area as hard since I still refining the product

  5. 1

    There is such a program in Warsaw, Poland where I live and it gives the feel of a scam, adding little real value. Maybe in SF it is different

    1. 1

      yeah they are in 180 cities worldwide they say. Have you done the program or just assuming?

      1. 1

        I've visited 2 meetups organized by them. They had their alumni on the stage, telling how good the program was. But when I visited their WWW, it was very unimpressive.