Interested in co-founding a company with us?
We are launching a "founders in residence" (FIR) program.
Summit Venture Studio Program Structure and Objectives -
OBJECTIVE: The goal of the SVS FIR program is to start new companies based on University created software IP and generate outsized investment returns. The FIR will bridge the academic-to-market gap by leveraging their entrepreneurial experience and deep industry knowledge to develop, validate, and launch new ventures.
DURATION: The expected duration for the residency is 3-4 months to identify and co-found a company. This timeframe allows sufficient time for project identification, market validation, business case generation, and initial customer discovery. Thereafter, the execution timeline is dependent upon the opportunity but ideally 24-36 months to exit. The model is to build a “bolt-on” or “tuck-in” acquisition for an established company.
PARTICIPANT SELECTION: FIR candidates are expected to have:
● Entrepreneurial experience taking a company from 0 to 1
● Deep knowledge in the target industry
● A demonstrated ability to commercialize new technology
● Experience in the sales process of a product in the target industry
● Grit, hustle, creativity, resilience, tenacity and all of the other cool startup words
Candidates will be sourced from within SVS's network and partners through a competitive application process.
RESOURCES PROVIDED: access to university partner deal flow (1,600+ opportunities so far in 2024), and the SVS back office team, including development, accounting, legal, marketing, sales, administrative support, and IT. Regular check-ins, workshops, and training sessions will ensure continuous guidance and support.
BENEFITS TO FIRs:
● Co-found a company with SVS (initial investment from SVS up to $50K)
● Equity stake in company launched together with SVS (up to 25%)
● Revenue share cash compensation
● Access SVS's network, resources, and deal flow, (80+ universities and hospitals).
● Participate in the SVS 8 week, market and business validation bootcamp ($10K value).
● Opportunity to co-invest with SVS in the newly formed startups (typically companies have had $1M+ spent in non-dilutive funding before SVS investment).
If you are interested, fill in the form at the link in the comments and mark "co-founder".