SPC Founder Fellowship Fall 2024

A venture-scale company doesn’t start with revenue. Or with the first product. Or even with an idea. It starts when unreasonable ambition takes hold—when you convince yourself that maybe it is possible to defeat the incumbents, create whole new categories of products, and build a multibillion dollar company. When you get it in your head that you can create a new world.

That’s -1, and it’s the best time to seek support for the unreasonably ambitious thing you’ve decided to do. That’s why we built the Founder Fellowship, the only truly pre-idea startup program.

We believe a one-size-fits-all approach to starting companies rarely works in an industry where only 0.01% of companies succeed. Instead, we provide bespoke support, patient capital, and the highest talent density community in technology to give your company the best chance to succeed. 

• We offer $1M. Fellows receive $400k for 7% on a SAFE upon acceptance to the fellowship. We also guarantee $600k in your next venture round, kicking off your Seed fundraise before it even starts.
• We offer bespoke support. Fellows go through a proprietary curriculum to help validate ideas and receive regular 1:1 mentorship from SPC partners in a small cohort.
• We curate the highest talent density. Fellows become lifetime members of the most talent-dense community in technology, including access to our community spaces in San Francisco, New York City, and Bangalore.
• We do not restrict applications to a particular market or industry. You can apply with or without an idea.

Support in the -1 to 0 phase from the people who defined it is a unique unlock. It will make you a better founder, with sharper market insights and product ideas, and higher conviction in your ability to achieve the nearly impossible. But first you have to choose -1 and get started.

FAQ

What is the Founder Fellowship?

SPC’s Founder Fellowship helps entrepreneurs start a high growth, venture-scale company by targeting support at the “-1 to 0” idea stage. We give founders their first outside investment, help them ideate and iterate to a viable product, find early customers, and assist in raising funding from the best VCs in the world.

We take a boutique approach with our founders. Our cohort sizes are small, with one partner for every two companies. We do not have a demo day or fixed timelines. We offer $400,000 to generate and pursue an idea in exchange for 7% equity via a SAFE. We also guarantee $600,000 in your next outside-led venture round.

What do fellows get?

CAPITAL

• $400,000 for 7% equity via a Simple Agreement for Future Equity (SAFE)
• An additional $600,000 in your next outside-led venture round

STARTUP FORUM

• 8-week curriculum  hosted in the SPC Community and centered on a proprietary curriculum of time-tested articles, videos, and books to help you think like the world’s best founders about markets, ideas, and products.
• Advisors & speakers like Mark Zuckerberg (Meta), Sam Altman (OpenAI), Dylan Field (Figma), Reid Hoffman (LinkedIn), Mike Krieger (Instagram), Christina Cacioppo (Vanta), Nathan Blecharczyk (Airbnb), Neha Narkhede (Confluent), Anatoly Yakovenko (Solana), Howie Liu (Airtable), and more.

EXPERIENCE

• SPC membership: become a lifetime member in the most talent-dense community in technology and tap into our extensive network of 800+ alumni.
• SPC network: introductions on demand to founders and executives at companies including OpenAI, Google, SpaceX, Coinbase, Figma, Notion, Airtable, Pilot, Unit21, and many more.
• Fundraising support including guidance crafting a pitch deck and introductions to top angel investors, seed firms, and VCs. Companies from previous cohorts have gone on to raise from partners like Greylock, First Round Capital, Index Ventures, Accel, a16z, Bain Capital Ventures, Accel, OpenAI, and more.
• $200K in credits from AWS, Google Cloud, OpenAI, Brex, Pulley, and other companies.

How is the Founder Fellowship different from other accelerators or incubators?

We help in the -1 to 0 phase, even before founders have a set idea (though we also welcome founders already working on one).

• More money and a higher valuation for your company. Most accelerators offer smaller checks for more equity. We offer $400K for 7% up front, while also guaranteeing $600K in your next outside-led round so you can pitch investors from a strong position. We believe great ideas may take more than a few months to materialize and founders should avoid moving too quickly because they are cash-constrained.
• Small cohorts with direct partner mentorship. Each company works directly with partners several times per week.
• No idea necessary. We run the only truly pre-idea pre-seed program. We can help you find a great market and idea for which you are well suited. We help you reach Founder-Market Fit so you can get to Product-Market Fit.
• No fixed timelines. Work on validating ideas and fundraising on a timeline that makes the most sense for your company.

Do I need an idea to apply?

You do not need an idea to apply.

That said, a great idea is critical to long term success. If you do not have an idea, we still need to assess your ability to generate them. Be prepared to discuss markets you find interesting, previous ideas you have considered and discarded, and the insights you find compelling and why.

If you already have an idea or product, you are also welcome to apply. We’ll help you build conviction that it’s worth betting the next decade of your life on.

Is the Founder Fellowship limited to specific industries or domains?

No. Our Fall ‘24 cohort is open to founders exploring any venture-scale opportunity.

Can I apply as a solo founder?

Yes. If you apply as a solo founder, we have a strong bias for applicants who have the skills to build and prototype. If you are accepted as a solo founder, you may benefit from a co-founder, and we can help in the search process — previous fellows have found co-founders in the SPC community.

What are the upcoming cohort application deadlines, program dates, & location logistics?

• Application Deadline: 11:59pm PT on Sunday, August 11th.
• Interviews: Start immediately, with final decisions no later than August 23rd
• Program Start Date: All team members must be available full-time by the program start on September 30, 2024.
• Location: All fellows are expected to work out of our San Francisco or New York City spaces for at least the duration of the 8 week curriculum. We will consider applications for teams based in Bangalore but strongly encourage them to relocate to the US for the duration of the Fall cohort to get the most from the program.

Who is behind the Founder Fellowship?

The Founder Fellowship is organized by South Park Commons and run by SPC partners Ruchi Sanghvi, Aditya Agarwal, Finn Meeks, Evan Tana, Arian Agrawal, & Jonathan Brebner. We are builders, entrepreneurs, technologists, and investors who love helping founders win.