What were the tests like?
Thoughts from a startup on getting accepted into new incubator from TheFunded
21–23 of 23 posts
Re: Thoughts from a startup on getting accepted into new incubator from TheFunded
#22I'm not sure "incubator" is the best word to describe TheFunded Founder Institute. Founders aren't even expected to work full-time. Instead of providing funding, founders actually have to pay $450, which makes having "TheFunded" in the title pretty ironic.
The Institute charges a course fee of $450 to help cover operating, catering, broadcasting, materials, and location costs. This amounts to $27 per session, by the way.
In terms of investment, the Institute does not buy equity at a discounted or at below market rates. Instead, it works with professional investors to secure the best possible rates and terms for the Founders, and then the Institute has the option to invest alongside the others if it makes sense for everyone.
Re: Thoughts from a startup on getting accepted into new incubator from TheFunded
#23Wow. congrats. unfortunately I'm one of the hundreds that were rejected :) But the best part for me is I get to meet Adeo in person, and I know I shouldn't be judgemental but he's impressed me as a darn good person that is passionate about helping out start ups as well. I hope everything goes well with your venture, and please do share your experience with us
Adeo is a genuinely great guy. I don't care if it sounds like sucking up. I met him at an event in Boston that he got me a free ticket to, and I was flat out broke after getting there on a shoestring and he bought me a beer and introduced me around. I think he knows how tough it can be trying to get something started, and he really believes in what he says.
Thanks, and sorry about that Darwin. Ping me offline if I can help in any way. Just give me until after the first session to get some more time on my hands... ;-)