The Islamabad chapter of Founder Institute, one of the world’s largest entrepreneur training and startup launch program, has announced the launch of its second semester. They are currently accepting applications for their 2016 semester, starting from 6th December 2016.
Founder Institute is a training program for budding entrepreneurs which, through their four months long part-time program, helps them launch their company and make their ideas commercially successful. Its curriculum revolves around practices followed in Silicon Valley and it hopes to globalize the success of Silicon Valley through their Shared Liquidity Pool.
Shared Liquidity Pool helps in creating and fostering a similar collaborative culture in markets across the globe by distributing equity in the companies formed from each semester with everyone in the program. Here is how it works: each Graduate contributes 3.5% of their company equity in Warrants to a 10-year Bonus Pool with other peers from the current semester. The Pool returns are then distributed as follows:
- 40% goes to the Founder Institute, its Local Directors, and Partners.
- 30% goes to the Mentors, and each Mentor’s individual share is based solely on anonymous ratings received from the Graduates.
- 30% goes back to the Graduates themselves – allowing them to earn returns based on both their success and the success of their peers.
The Islamabad chapter finished their first semester in February this year; 11 startups graduated from that inaugural semester.
Who should apply for the newest semester?
Founder institute has a reputation of working with individuals instead of ideas. They don’t even require a feasible idea to apply. So if you are talented and motivated to do the work required to complete their program, you should definitely apply for their newest semester.
Application deadline and fee structure
Founder institute Islamabad is accepting applications for admissions until 27th November. However, if you apply by the early deadline of 6th November, you will be eligible for:
- Taking the Admissions Test for free ($50 USD for those applying after early deadline)
- Early Course Fee (the early price of $319 USD increases to $379 USD after the Early Deadline)
- Several Founder Institute Fellowships, which provide best applicants with a full refund to participate in the program for free
If you are interested in applying for their upcoming semester, you can follow this link and fill out the application form.