Founder Institute Session LA: Developing a vision for your Startup Idea took place at Mahalo Culver City Office on May 15, 2013. Adeo Ressi, the founder of FI, was speaking about their program for entrepreneurs right before the application process for LA starts on May 19, 2013.
About 50-70 people gathered to learn more about the program, that is available in 24 countries and 40 cities. It is a 3 months program that costs about $1000. “The Founder Institute is the World’s Largest Startup Accelerator, with a mission to “Globalize Silicon Valley” and help founders build enduring technology companies. Through our part-time entrepreneur training program, you can launch a company with guidance and feedback from experienced startup CEOs – while not being required to quit your job”.
Adeo Ressi introduced his framework.
What is your idea? Can your idea Change 1 mil lives? Can you employ 500 people? Can you run it over 20 years?
Why you? Self-reflection, life narrative, happiness
What is the need? Real demand, customer pain, revenue potential
What is the insight? Unique solution, supports growth, culture – spend time thinking and researching
Validation. Be ready to think about ways to kill your idea if not validated.
So pitch in 1 min: your narrative, your pain or passion, the business, a unique insight and validation. Several people from the audience got up and pitched: online database animal shelters, hackers hacking at resorts worldwide and some other ideas. The LA 3 months Program is Jun 03, ’13 – Sep 09, ’13.