General Questions
In our opinion Y Combinator and Startup500 is a pre-seed accelerator. They typically take a team and its early stage product and provide them a small seed investment or operating capital. Their 3-4 month program is mainly focussed on business modeling, product market fit and helping the attendees to prepare for a funding round. The Founder Institute (FI) is similar, it offers also a 4 month program but it offers also a subsequent alumni growth program. In addition, FI works also with entrepreneurs who are at an early stage (pre-seed / pre-funded) and helps them to build their business idea and to get traction and funding.
founders2 is more of an elevator for businesses who already have some traction and is heavily investing in the entrepreneurial skill set of the founder(s). This means that a participant in the founders2 program usually already has seed funding behind him or is in the process of raising funds. Unlike other similar programs, the F2 program lasts 24 months with one workshop day per month. The focus of the training is on building the entrepreneurial skills of the founders, as these are the key factors to sustainable business success and exponential growth. There is less focus on improving the business idea, as you already have your first customers and revenue streams. The learning content and the coaching sessions are taught exclusively by successful and experienced entrepreneurs.
An MBA in Entrepreneurship covers essential business principles and focuses on entrepreneurial skills like opportunity recognition, financing, and strategic planning. It also emphasizes innovation, leadership, and growth strategies, often providing professional networking and mentorship opportunities. Such a university course is mainly taught by professional teachers and attended mostly by students who are in the school phase of their lives.
The founders2 program focuses on building the already existing business of the founders. The essential business principles are trained also such as strategy, leadership, growth, execution, handling personnel and financial aspects, to name a few. The key difference, however, is in the implementation of what is learned in one’s own organization to make one’s own business a success. Participants in the program are startup entrepreneurs who already have a running business and are now fully engaged in their business, having already traction and strive for exponential growth. The training is taught by full-blooded entrepreneurs and graduates are granted access to an exclusive network of entrepreneurs and investment funds.
To put it a little differently: With the help of an MBA course, you get a master’s degree, majority theoretical foundation and university diploma. With the founders2 program you get a hands on toolset to better run your business, fail forward and to kick-start to a great entrepreneurial life and an exclusive international network full of entrepreneurs.
The founders2 program focuses mainly on technology companies but not only. Traditional companies such as industrial, pharma, food, healthcare, retail, etc. are also welcome as long as the business model has the ability to scale and disrupt. Generally, founders who want to build non-scalable businesses such as consultancies or traditional craft businesses are not accepted.
The learning program usually includes one training day every second month and travel time. In the intervening months, half a day of coaching and accountability workshops should be expected. On top of that, time has to be planned for the implementation of what has been learned in one’s own company, which often also requires one to two days per month, depending on the business aspect. Two thirds of the learning days take place physically at different locations across Europe, the Coaching and Accountability Workshops mainly take place virtually. Participants have to attend every learning day of the two-year program to get the funding in mid of the program and at the end.
If you decide to withdraw, you must do so before the second day of training to receive a full refund. After that there is a pro-rata refund of the registration fee, but from this 30% handling fee will be deducted.
If you are forced to leave the program early for personal reasons, you can use your paid registration fee for a future founders2 program. A one-time re-enrollment within the next 24 months is allowed. You will start where you left the program. In case of a complete restart, the difference for the period ‘start – rejoin date’ will be charged linearly.
We offer a payment plan that provides two equal installments per year plus a 5% service charge. Payment term is 30 days. If paid in full in advance, the service fee is waived.
founders2 explicitly recommends that teams of founders apply together for the same program. If several founders of the same company apply, a discount of 30% on the participation fee is granted. The collaboration must be able to be proven in writing in advance. Each founder must apply separately. Please make sure that the company name is spelled the same in the application form. If one founder is accepted in the founders2 program, this does not mean that other co-founders are automatically accepted as well.
Each registered founder is responsible for completing the tasks and participating in the learning days and workshops.
If you would like joint billing as a team, email admission@founders2.com to receive a quote at the team rate.
Business Ideas and Business Model
That is unlikely but possible. founders2 pays attention to diversity and uniqueness when putting together program participants. Founders in similar fields have often worked together in the past during the training days and have found this to be uncritical, as the real value comes primarily from implementing what has been learned in one’s own business. If conflicts still arise, then the participants can be spread across different programs.
Yes! Such serious changes mostly have no impact on program participation. In fact, the learning content and organizational action suggestions conveyed make it easier to implement changes and operations of strategic relevance or large scope in one’s own organization.
Applications
If an applicant receives a positive preliminary decision in the application process, then they will be asked to record a personal video and publish it. The published video must be accessible via a link without any password restrictions or similar. In the video the applicant has to answer about half a dozen questions about his motivation and business. The length of the video must not exceed 4 minutes.
In this standardized 20 minute interview, one of the founders2 partners will get a personal impression of the fapplying founder. During the interview, the founder will have the opportunity to briefly describe his company, explain what the ‘secret sauce of his success’ is, what are the personal goals and those of the company and what are the current biggest pains and challenges. Individual questions can be asked at the end. The interview will be recorded.
Program
Attending this entrepreneurial education program will enable you to:
- Build a sustainably successful business more quickly.
- Achieve business success more quickly
- Have less drama in the business, get a clearer strategic focus, build a better run organization, a more powerful team, improve financial health, and more!
- Achieve a weaker dilution and a faster, higher valuation of your company
- reduce the risk for bridge funding
And you will learn a lot of entrepreneurial skills that you can apply directly and you will be guided and coached by successful entrepreneurs.
The training addresses many of the challenges of building a successful business with multiple employees. You can bring your current pains to the program and work out solutions for them, which you can then implement promptly in the business. By doing this, you boost the growth of the company, reducing your business risks and you’ll generally scale much better.
If you are already working full time for your startup, then absolutely not. If you are still earning your money with another job, then you are most likely not quite ready for this training.
You need a certain number of credits. You earn these credits by regularly attending the Training Days and Coaching Workshops. Credits are also awarded on Growth Day and at the review before the finals. And last but not least, you will also receive credits (points) from your coach. Coaches are encouraged to award credits in your favor as much as possible.
The program and credit requirements are such that you could afford to be absent from one or the other event if there is no other way. The condition is that the coach certifies you a good implementation performance of the measures determined by you in the company.
Experience shows that such programs have a dropout rate of less than 10%; after all, the focus is not on passing an exam, but on building a successful business in a sustainable way. We see that the overwhelming percentage of participants transform their organization for the better during the program, and as a result, the failure rate of the affiliated companies is drastically reduced. We have even seen entrepreneurs who had to close their startup, but were still able to successfully complete the program.
Special Events
At the midpoint of the program, entrepreneurs present their progress with a short pitch. They explain their experiences, the challenges and also any failures in front of the program management and industry experts in a confidential setting. In addition to the credits (points) achieved during the first year, the Growth Day presentation is the milestone to receive the first half of the founders2 funding. The Growth Day itself is not a competition! The startups are not evaluated here, there are no credits to be won here. It is a review of the current situation and a review, so that you can learn together.
The Growth Day is held at an exceptional location in Europe. Afterwards there is a party.
Trainers, Coaches and Mentors
The trainers in the founders2 program are not only experienced entrepreneurs but also experts in adult education. They have a track record of success in their own entrepreneurial ventures and have also dedicated themselves to training and mentoring young entrepreneurs and adults.
Through their combined expertise in entrepreneurship and adult education, the trainers bring a wealth of knowledge and practical insights to the founders2 program. They understand the challenges and opportunities faced by entrepreneurs, and their experience in training and mentoring adds significant value to the development and growth of the participating startups.
One unique aspect of their involvement in the program is that the trainers are also participants in the success of the startups and the program itself. As part of their commitment, the trainers invest in the founders2 investment fund, aligning their interests with the success of the startups they train and support.
By investing in the fund, the trainers have a personal stake in the growth and achievements of the startups. This not only demonstrates their belief in the program but also ensures a close alignment of interests between the trainers, the startups, and the overall success of the program.
Overall, the trainers’ dual roles as entrepreneurs and educators, coupled with their investment in the founders2 investment fund, reflect their deep commitment to the success of the startups and the program as a whole.
Most mentors have started several businesses and currently run their own company. They have personal interest in supporting young entrepreneurs and most also want to ‘give something back’. Coaches are responsible for conducting the bi-monthly coaching workshops, where each founder discusses and debates in the work group the implementation of the operational changes they decided to make in the last Training Day. Founders can additionally book a mentor for personal or industry specific challenges.
Unfortunately this is not possible. The basis is attending the Training Days, participating in the Coaching Workshops and the resulting collaboration with your assigned working group of other founders and with your coach. A personal, individual mentor is from our point of view an ‘add-on’ to your coaching workgroup.
Of course, as long as you have the appropriate qualifications. However, you must have a proven track record as an entrepreneur and experience in adult education. We have a founders2 trainer training program that you would then need to complete. The time commitment and also a financial commitment is significant. The training usually cannot be completed in less than one year (time-elapse).
Agreements and investments
Yes, provided that the warrant is executed. In this case, founders2 acquires equity shares in the startups it invests in. This means thatfounders2 becomes a shareholder and holds ownership rights in proportion to its investment.
Upon execution of the warrant, founders2 would be a minority shareholder and a party to the company’s standard shareholder agreement. It would not be granted any seats on the board of directors, and voting rights would be limited and governed by the Company’s shareholder agreement.
As per April 2023 founders2 will pay out €35,000 to the participating startup in exchange for a 3 percent equity stake. Separate provisions apply to startups with a high valuation.
This funding is intended to support aspects of the startup’s growth that can be freely chosen by the founders, such as product development, hiring employees, marketing and operating costs. The disbursement is divided into two tranches and usually occurs after Growth Day and Finals.
If you drop out of the program before the fourth Training Day, you are not required to issue the warrant.
If you definitely drop out of the program before Growth Day at the midpoint of the program and do not return, you are still required to issue the warrant. Remember that if you are forced to drop out of the program, you can come back in later.
If you drop out of the program after Growth Day, you are contractually obligated to issue the warrant according to the program agreement. This prevents people from cheating the system and leaving the program at the very end, thereby intentionally avoiding contributing to the trainers and coaches and cheating their supposed stakeholders and founders2.