Deadline: Rolling Basis
Are you an aspiring entrepreneur or founder with an early idea/concept in need of a support partner to ignite it? Do you have an innovative idea that just needs that next-step support to move from 0 to 1? Apply for the Gen F Entrepreneur in Residence Program 2023.
Turn your startup concepts into reality in 12 weeks through this Venture Design Studio and receive funding to validate your idea. Founders Factory Africa powers Gen F one of the continent’s largest and most active, hands-on investors.
Benefits
During Gen F, they provide:
- $3,000 stipend for founder for 3 months
- $5,000 once-off to run market validation experiments
- Working closing with their venture builders to refine your concept and help you prep for IC
If Investment Committee approved:
- Free access to Gen F’s studio services to launch your startup
- Up to $250 000 in funding available
Eligibility
Eligible applicants are aspiring founders with the relevant background building a VC-backable startup. These could be:
- Former startup founders who understand what it takes to build startup ideas.
- Domain experts who have a unique insight into the problem they are trying to solve.
- Corporate professionals looking to move into entrepreneurship due to a gap in the market that they have identified.
- Senior operators who have worked in an African startup previously.
- Founders with a well-researched concept solving a deep African problem in a large market.
- Founders who are able to commit full-time to refine and validate their concept for 10-12 weeks, and then move full-time into their startup.
- Ideas with high potential for commercial returns, with embedded impact.
- Founders who are at the earliest stages of building their startup idea (pre-revenue).
Application
The application process is broken down in the following stages:
- Application form – to vet the market opportunity and get to know the founder a little bit. If you have not heard from organisers in 1 week from applying, consider your application unsuccessful.
- Exploratory Chat – a 30 min session to meet the founder and assess founder/market fit. Outcome will be communicated in 2 weeks from initial chat.
- Panel Interview – a 1 hour session with different members at FFA to probe a little bit more into your concept. Outcome will be communicated in 1 week after the panel interview.
For more information, visit Gen F Entrepreneur in Residence.
