Rolling basis, deadline | Gen F Entrepreneur in Residence Program 2023 (Up to $250 000 in funding)
Are you a budding creator or entrepreneur in search of a support partner to spark your early idea or concept? Do you have a creative idea that is only waiting for the support needed to move from 0 to 1? Submit an application for the 2023 Gen F Entrepreneur in Residence Program.
Utilize this Venture Design Studio to transform your startup ideas into reality in 12 weeks while receiving the money to prove your concept. Gen F is one of the biggest, busiest, and most involved investors on the continent thanks to Founders Factory Africa.
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Benefits
When Gen F occurs, they offer:
- $3000 per month as a founder’s stipend
- $5,000 one-time investment to conduct market validation studies
- Refining your idea with their venture builders to help you become ready for IC
- Upon approval by the Investment Committee
Free use of Gen F’s studio resources to establish your business
There is financing available up to $250,000
Eligibility
Aspiring founders who have the necessary experience and are developing a startup that is VC-backable are eligible to apply. These include:
- Former startup founders who are aware of the requirements for developing company ideas.
- professionals in their respective fields who have distinctive perspectives on the issue they are attempting to address.
- Corporate executives have spotted a market vacuum and are considering starting their own business.
- senior operators with prior startup experience in Africa.
- founders with a well-researched idea that addresses a significant market need in Africa.
- Founders who can devote a full-time effort to their startup for 10 to 12 weeks while also refining and validating their concept.
- ideas with a significant potential for economic gain and a lasting effect.
- founders who are in the pre-revenue stage of developing their startup idea.
Application
The steps in the application process are as follows:
- Application form – to examine the market opportunity and learn a little bit more about the entrepreneur. Consider your application unsuccessful if you have not heard from the organizers after a week from when you applied.
- Exploratory Chat: a 30-minute meeting with the founder to determine whether there is a founder/market fit. Results will be shared two weeks after the initial chat.
- A panel interview with several FFA members lasts an hour and aims to delve a little deeper with your idea. Following the panel interview, the results will be announced in one week.
Visit Gen F Entrepreneur in Residence for additional details.
