Found a great article on VentureBeat on a new “incubator” program: The Founder Institute:
The vision of the whole institute is to launch 1,000 companies a year. I set out with a macroeconomic goal, which was to help get us out of recession and go back to innovation by forming hundreds of companies in different geographies. Of course, when you model it out, you have to assume failure. You have to assume that not everyone who applies will get in, and you have to assume some people who get in won’t graduate, and you have to assume some people who graduate will fail. The model calls for maybe two companies out of 50 being wildly successful.
What’s interesting is, my whole mindset shifted when the sessions started. The rallying cry of the whole program is now, “Leave no founder behind!” If you go into the program assuming a failure rate, it would be like teaching a high school class and saying, “Well, you know a lot of my kids are going to be drug addicts. I can’t do anything about it.” You want to enter with belief and the vision that 100 percent will be successful. My view is, I will not stop at anything until 100 percent of everyone who finishes the program is successful. I don’t see failure as an option or an acceptable outcome.
via VentureBeat: The Founder Institute’s Adeo Ressi on his plans to leave no entrepreneur behind | VentureBeat.
David Mantilla 