Teams apply. We invite 7-10 teams to join us for 10 weeks of instruction, mentorship, and publicity. We pay teams for this privilege. In exchange for the cash and training, we receive an equity stake in each company.
- Applications open now
- Applications are due January 31, 2015
- Invitations will be sent out by the end of February, 2015
- The Fledge6 program will begin Monday, April 13th
- The program will run 10 weeks, ending the week of June 15th
We are looking for people committed to making their companies succeed.
- Applicants are expected to be “all in” with their companies (these companies can not be side projects)
- Teams must consist of at least two people (ideally both working together in the same location)
- Teams must be able to work from Seattle during the duration of the program (a few days absence in the middle of the program is fine)
- Teams will be invited to co-located within HUB Seattle
During the Session
The program is quite intense, with some structure (see below), but with most of the time free for the teams to work on their companies.
- Daily “stand up” status meetings
- Morning classes every Tuesdays and Thursdays
- Weekly “Problem Solving” Lunches
- Weekly “All Hands”
- Many days of “Pitch Practice”
- Ad-hoc meetings with dozens of mentors
- Peer-to-peer mentoring
- Weekly Office Hours with Luni
- Multiple 1-2 minute pitch sessions with journalists and investors
- Final presentations on-stage in front of an audience of hundreds
The daily, intense program eventually ends, but the support continues
- Office Hours with Luni
- Introductions to investors
- Publicity to the press
- Hosted, public video of your presentation
- Continued peer-to-peer networking
- Continued access to mentors
- Follow-on workshops (planned)
Each of the Fledge6 fledglings will receive $20,000 in cash.
In exchange for the cash, instruction, mentorship, and publicity, each company must agree to sell a small percentage of Common shares (a.k.a. founders shares, a.k.a. equity). This is split into two parts, the first in a form similar to the founders, and the second as redeemable shares, re-purchased out of future revenues. (For foreign companies, we structure the investment into a revenue-based loan.)
A detailed term sheet and stock purchase agreement will be provided to each invitee in January.