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SPC Founder Fellowship Summer season ’21 Functions Open | by South Park Commons | South Park Commons | Jun, 2021

South Park Commons

South Park Commons is a self-organizing group of tinkerers and technologists united round a shared ethos of intentional exploration since 2015. Initially of 2021, we began an experiment that grew out of what we’ve discovered collectively: what if we invested in startup founders earlier than they’d settled on an concept? We’d discover a cohort of promising soon-to-be founders, give them $400k in funding and the mentorship they should validate a market and iterate on concepts, and assist them get an organization off the bottom. We referred to as it the Founder Fellowship, as a result of it’s a guess on founders earlier than they’ve settled on an concept. The outcomes up to now go away us assured that we’re on to one thing. Now we’re excited to open purposes for our second cohort of fellows.

Our rationale for the Fellowship stays the identical. Too typically, founders don’t have the time to correctly vet their concepts. They’re pressured to set off with out creating a excessive stage of conviction that their concept will really take flight. The Founder Fellowship is a radical pre-flight program. We offer the funding and professional steering to vet the flight-readiness of an concept, the curriculum to ensure founders know the best way to pilot their challenge, and the runway to get began.

We’re notably proud that the Fellowship helps open up the too-often insular world of startups and enterprise capital. We don’t assume that fellows already know the best way to sequence hiring or purchase first clients; there’s no expectation that you simply’ve raised a seed spherical earlier than or know any VCs. And if this isn’t your first startup, we provide the house and sources to completely discover your new one earlier than launching. The aim of the Fellowship is to assist with the ache factors and locked gates that preserve would-be founders from beginning an organization.

During the last a number of months we’ve come to higher perceive the total worth of the format we created. On the Fellowship’s core is the Startup Discussion board, a curriculum constructed from the collective information of the SPC group and assembled by the SPC Fund, Avichal Garg, and Curtis Spencer. The curriculum options all the things founders must know to get from -1 to 0. Along with the Discussion board and bespoke mentorship from fund and visiting companions, fellows take part in peer workshops that present each skilled and private assist. Practically each fellow within the first cohort cited assist from different fellows as a spotlight of this system. It displays the core philosophy of SPC: intentional exploration with a mutually-supportive peer group of builders and technologists.

We will’t wait to assist our subsequent cohort develop right into a close-knit group of formidable founders. In case you aspire to begin a venture-scale firm, we encourage you to use.

We take a boutique and customised strategy to serving to founders, recognizing {that a} one-size-fits-all strategy to beginning corporations hardly ever works. Our cohort sizes are small, with one companion for each two corporations. We don’t have a demo day, and when the time is best for you to lift, we’ll make introductions to the most effective buyers. We don’t power strict timelines.

We provide $400,000 to founders to pursue an concept, in trade for 7% fairness by way of a SAFE. We may help establish the fitting market, assist you as you construct your first product, discover first clients, assist increase a seed spherical, and even assist discover co-founders.

Capital

SPC Startup Discussion board

  • Speaker Sequence — we invite audio system to attend our weekly Discussion board, to affix us for dinners, and for one-off occasions. Prior audio system have included Mike Krieger (Instagram), Mathilde Collin (Entrance), Tope Awotona (Calendly), Nathan Blecharczyk (Airbnb), Reid Hoffman (LinkedIn), Elad Gil (Coloration), Connie Chan (Andreessen Horowitz), and extra.

Companies

  • Labs targeted on “doing.” — partner-led constructing teams targeted on technical instrumentation, prototyping, product metrics, PMF, finest practices for steady deployment, and many others.
  • Alumni Discussion board — a web-based discussion board to proceed the dialog with different founders in your cohort and SPC alumni to ask for recommendation and assist others locally, even after the fellowship is over.
  • Entry to area specialists throughout quite a lot of fields in synthetic intelligence, machine studying, self driving autos, blockchain, fintech, social networks, power, developer instruments, and extra.
  • Entry to a community of founders and executives from the seed stage to IPO at corporations starting from OpenAI, Google, and SpaceX to breakout corporations reminiscent of Figma, Notion, Airtable, Pilot, Compound and extra.
  • Palms-on fundraising assist to lift your seed spherical, together with steering crafting a pitch deck and introductions to prime angel buyers, seed companies, and VCs.
  • $200K in credit from AWS, Google Cloud, Brex, Pulley, and different corporations.
  • Extra money and the next valuation in your firm. Most accelerators provide smaller checks for extra fairness. We provide $400K for much less fairness, in lots of instances greater than doubling your valuation. We consider nice concepts might take quite a lot of months to materialize and founders ought to keep away from shifting too rapidly as a result of they’re cash-constrained.
  • No concept needed. We may help you discover an amazing market and concept for which you’re properly suited.
  • No demo day stress. We are going to enable you to increase your spherical on the timeline that is smart in your product and firm.
  • No mounted timelines. Fintech, biotech, blockchain, and shopper startups want totally different quantities of time to get off the bottom. We’ll work on validating concepts and fundraising on a timeline that makes probably the most sense in your concept.
  • Small cohorts with direct companion mentorship and a deal with mutual assist.

That being stated, an amazing concept is a vital part of long run success. In case you don’t have an concept, we might want to assess your capability to generate nice concepts. Be ready to debate markets you discover attention-grabbing, earlier concepts you’ve got thought of and discarded, and the kinds of startup concepts and insights you discover compelling and why.

  • Interviews: July 2021
  • Program Begin Date: Gentle launch August 2nd, 2021, full-time launch August ninth, 2021
  • Location: This system will probably be hybrid with each distant and in-person choices. All occasions will embrace distant entry, however we’ll even have in-person entry for folks within the Bay Space for some occasions. All programming will probably be based mostly on Pacific Time Zone hours. You do not want to be within the Bay Space or United States to use or take part.

70+ corporations have used the South Park Commons strategy since 2017 and have raised $500M+ in funding for a mixed market cap of over $3B.

To avoid wasting you some scrolling, right here’s the applying hyperlink once more!

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