FAQ

How does Fledge compare to other accelerators?

There are thousands of incubators and accelerators around the world.  They all promise to help.  They all sound similar.  They are not.  The best programs include a well-tested curriculum, a broad and deep mentor network, and a reputation for excellence.

How can you know that Fledge is better than the others?  Don’t ask us, ask a neutral third party that benchmarks the programs.  See the results of the Social Innovation Benchmark

 

What do we look for at Fledge?

We receive a lot of applications for each session.  Unfortunately, our time and space is limited, and thus we pick the teams we believe best fit the following criteria.  That said, your odds are zero unless you apply, and we pride ourselves on providing feedback to every team that completes the application.

1. Team

We’ll help all we can to get your idea polished for and into the market, but ultimately we count on you to push it forward through all the hurdles in starting a business.  Thus first and foremost, we’re looking for dedicated entrepreneurs, who are “all in” in this effort, who work well together as a team.

“Together”, as the best practices from accelerators all say that companies need at least a team of two to be successful.  If you are alone, seek a co-founder or build out a team of volunteers/employees before applying.  Or apply today asking for feedback, which can help improve your odds of finding a teammate.

2. Impact

How does your startup make the world better?  Does it save lives?  Improve the environment?  Strengthen a community?  Alleviate poverty?  Bring financial services to the unbanked?  Bring food to the hungry?  Home the homeless?

Does it do this via business or charity?  Fledge is a for-profit, seeking to help impactful for-profit companies (or nonprofits which embrace customer revenues as the sole source of funding).

If you plan is to share a percentage of profits from an otherwise non-impactful business, you need not apply.  If your business model is buy one-give one, we’re not a good fit.  The only business model we like is where the mission is embedded within the product or service, such that doing business (a.k.a. making sales) directly has an impact.

2. Viability

Your idea needs a viable path to profitability.  We are not looking for the next Instagram or WhatsApp or any other app that can’t earn revenues, or whose only potential revenue is from advertising.

Who will pay you for your product or service?  How many of those potential customers exist?  How expensive will it be to find them and close the sales?  How long can you afford to try and reach them?

Are they looking for a solution like yours, or oblivious to the problem you are solving?

 

Does my idea fit Fledge?

Probably.  If you’ve made it this far into the web site, then your idea is probably a fit.  To be sure, fill out the contact us form, tell us a bit about your idea, and we’ll tell you whether you should apply.  Or better yet, if applications are open, take the time to fill out an application, and if it’s a good fit, we’ll get back to you with follow-up questions.  If it’s not a fit, you’ll have the basic answers to apply to the next program.

Can I send my business plan or pitch deck before applying?

Sorry, but no.  We receive hundreds of applications per year.  Digging through hundreds of business plans and pitches to find answer to our questions is to difficult and time consuming.  What we promise is that if you fill out an application, we’ll read it.  And if we have other questions, we’ll ask them.  We’re serious about finding the best teams and ideas, and spend time talking to the teams that take the application seriously.

 

When should I apply?

As soon as possible.  Waiting for the deadline is not the ideal strategy, as your application will get far more attention and thought in the month or two before the deadline than the day of or after.  If we see an outstanding application before the deadline, we may choose to accept the team early, leaving fewer slots for the latter applicants.

If there is a Spring program in your home city, or a nearby city, apply there too.  Graduating from Spring is a positive when applying to Fledge.

 

What are my odds of getting invited?

For Fledge, the acceptance rate drops each time we run the program.  It’s about the same odds as applying to a famous university.  None the less, the odds are zero if you do not apply.

 

Do I need to relocate?

For Fledge, you’ll not need to relocate permanently, but for the 10 weeks of the program, at least one team member needs to be working at Fledge, preferably at least two.  Part of the reasoning behind the cash investment is to provide some of the funding to make this possible.

 

Do I need to be a US Citizen or form a US company?

No and no. Fledge is open to citizens from anywhere in the world, who are able to travel to host city. As for your company, you are free to incorporate and operate your company from your home country after the program completes.

 

Do I need to be be fluent in English?

No, but it will help. You are welcome to fill out the application in either English or Spanish. However, the bulk of the curriculum is in English and the majority of the mentors speak English.

 

What is the B Impact Assessment score?

B Labs is a non-profit company which certifies companies as “B Corporations“.  Fledge has this certification, and we encourage all impactful companies to follow suit.  We thus ask each applicant to fill out the free B Impact Assessment and tell us the score.

 

I Have more questions!

Click on Contact Us above and ask us anything.

 

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