In early 2007 a new website was founded by someone only known as Ted. The website was simply called The Funded. Simply put, The Funded allows entrepreneurs to rate and review venture capital firms and angel investor groups. While the site, and its founder, has been highly criticized, The Funded took off. For the first time ever, entrepreneurs had a place to go and rate and review investors, and for those searching for potential financing, a place to read those ratings and reviews. The Funded has, in it’s own small way, leveled the playing field and has served the entrepreneurial and VC communities well. For the first time ever, VCs were publicly being held accountable. For example, see here for the most loved VCs of 2009. Some say it’s a one-sided forum, and many just don’t care. Most entrepreneurs agree though – The Funded is a good thing.
The whole idea of The Funded really intrigued me, and had something in common with a little side project of mine called The Founder’s Quandary. But I had no idea who was behind The Funded, so I had no idea who to contact about getting involved or at least offering a virtual high-five.
For it’s first six months it was unknown who “Ted” really was. That is, until Ted unveiled himself as Adeo Ressi, a well known, somewhat controversial, entrepreneur. In the past couple of years Adeo and I have exchanged a number of emails, mostly about how I might help The Funded and perhaps even help with something here in Boston. Well, the good news is that The Funded has announced Founder Institute, and it’s arrived in Boston!
The Funded Founder Institute, a four month program to help founders build the next generation of world-class technology companies, is launching a new semester in Boston from July, 2010, until October, 2010. The program is run by founders for founders, providing a structure for successful entrepreneurs to share their experiences and to provide guidance. Everyone that graduates from the program is invited to join a pool to share in the equity upside generated from the success of their peers. This adds a unique camaraderie to the program and creates a long-term peer support group with a vested interest in your success. If you have a new company or if you are thinking to start a company, take a moment and apply to the program. The program has an early acceptance deadline of May 23rd. Apply here.
Founder Institute has already lined up great mentors for Boston, including;
- Phil Libin, CEO, Evernote
- Craig Kanarick, Cofounder of Razorfish
- Dan Shapiro, CEO of Ontela
- Eric Melin, CEO of Philanthropist.org
- Stephen Hau, CEO of Sharable Ink and Patientkeeper
- Doug Brenhouse, Cofounder of Metacarta
- Ryan Alfred, Cofounder of Brightscope.com
- Roger Yee, Former CEO of ShadowLogic
- Matt Johnson, CEO of OmniStrat
- And more…
The Institute training and apprenticeship program is complimentary with other incubators, such as Y Combinator
and TechStars, both of whom have history in Boston. “Several people have suggested that the program is competitive with TechStars… However, I just don’t see it that way and encourage all kinds of programs like this in the entrepreneurial ecosystem,” states Brad Feld
Co-Founder) on his blog, encouraging entrepreneurs to apply to the Institute.
Boston is the third East Coast location, eighth U.S. location, and 10th chapter of the Founder Institute worldwide. The Institute now expects to enroll 800 founders per year in a four-month training and apprenticeship program, differentiated by shared equity upside of all participants. Apply here today!
If you’re an entrepreneur in Boston I hope you’ll take a look at this opportunity and get involved! I’m just thrilled to see this happen, and I’m eager to see Founder Institute nurture and provide fertile ground for entrepreneurs!