CONTENTS
Entrepreneur First is new and you probably have a lot of questions. We hope a lot of the answers are here.
APPLICATIONS AND SELECTION
What are the eligibility criteria for applying?
You need to be a final-year student at a UK university or to have graduated from a UK university in the last two years. Students of all degree subjects are eligible to apply.
I’m a graduate student. Can I apply?
Yes. EF is primarily aimed at undergraduates, but we will be delighted to consider your application if you are a graduate student and EF is the most appropriate route for you to pursue your start-up.
I’m an international student. Can I apply?
Yes. Being selected to join EF, however, does not automatically grant the right to work in the UK. To take part in EF you will need to have the right to work in the UK.
What’s the minimum academic standard for applicants?
There isn’t one. We’re looking for something exceptional, but we are open-minded about what this looks like.
Can I apply for deferred entry to EF?
No. Unfortunately, we cannot offer deferred entry to the programme.
Do I need a business plan to apply?
No. We are looking for people who will use EF to become successful entrepreneurs. We expect you to be passionate about entrepreneurship and ideas, but we are happy to consider applications from people who have not yet settled on their “winning idea”.
What kind of businesses are you going to support?
What is important to us is that you can launch and scale the company you start rapidly. Tech startups are great for this: they're (relatively) cheap, (relatively) quick and you can have great credibility if you have a great product, whatever your age and experience. However, that does not mean that only tech startups meet these criteria. If you have an idea that you can realistically launch and scale rapidly, then the sector is unimportant to us.
Who will make the selection?
Every application will be read by the EF team. We’ll be looking for drive, energy, a passion for ideas and entrepreneurship and adaptability. A small number of the most promising applicants will be invited for interview with panels made up of entrepreneurs, investors, EF trustees and other experts.
When do applications close?
We will be accepting applications via our website until the 31st December. For practical reasons, we cannot accept application via email or post.
TEAMS
Can I apply as part of a team?
We are happy to accept fully formed teams on EF, but each team member still needs to submit an individual application. We will ask you when you apply whether you are applying as part of a team. We will consider all applications on their individual merits.
If I haven’t got a team already, how will I get one?
First, don't worry. Most of our applicants don't have a full team yet - helping you build a team is one of the main benefits EF offers. We’ll work with you between the time you’re accepted and the start of the programme to ensure you’re ready to start in September. We’ll be running a series of networking and team formation “speed dating” events to facilitate this. Our strong preference will be for you to team up with another EF participant, though we'll work on a case-by-case basis to ensure you have the best possible start to your entrepreneurial career.
PROGRAMME AND SUPPORT
When does the programme start?
You should also be available for a two-week residential training camp in late summer 2012. The programme starts full time in September 2012.
How long do I have to stay on the programme?
EF offers up to two years of support to aspiring entrepreneurs. By this we mean that you'll have access to our investor days, networking and training for up to two years. Of course, different startups will scale at different rates and some participants may grow quickly enough that they outgrow the kind of support that we can provide. That would be a great outcome for us and we'll use our network to make sure you're in touch with the people who can help you in the next steps in your entrepreneurial journey if that happens.
What support do you offer if I decide that entrepreneurship isn’t for me?
Anyone who applies should be determined to succeed as an entrepreneur. This isn't a programme for people who are looking for an alternative route into a corporate job. Nevertheless, we strongly believe that full immersing yourself in a startup and failing is a valuable learning experience. That's why each of our sponsors has committed to welcome and strongly consider any applications from people who complete the programme. We can also help facilitate conversations with leading startups, if you decide this is the right move for you. This reflects the exceptional talent you will have demonstrated in being selected and the skills you will have developed during EF. However, you need to understand that if the exit options are what appeal most to you about Entrepreneur First, this probably isn't the programme for you!
How will I survive if EF doesn’t pay a salary?
Read our page about Access to Funding. Most successful entrepreneurs have to bootstrap through the first few months. This is completely viable for the best applicants.
Who are the EF mentors?
EF mentors will be experienced, UK-based entrepreneurs whose startups have received substantial financial backing and have grown rapidly. We are grateful to our Entrepreneur Advisory Panel for help in recruiting our mentors. Our aim is to have a large pool of mentors so that we are able to match you to someone who will be best able to help you.
Through our corporate supporters you will also have access to experts in software development, marketing, law, strategy, HR and many fields.
Do I have to move to London to take part in EF?
No, but it may make sense to do so to get the most out of the programme. Most of our events and training will be in London. If you’re in any doubt, apply anyway and we can discuss in more detail when you come for interview in February.
How is EF different from all the other startup accelerators out there?
EF is a not-for-profit graduate scheme. Our goals are to increase the number of graduates who pursue entrepreneurship and to increase the success of those who do. We are not an investment fund and unlike many accelerators we do not charge anything – either in cash or equity – for participation.
EF’s goals have several implications for the support we offer:
- We want our participants to include people who might not become entrepreneurs otherwise. This means that we are happy to consider applications at a much earlier stage of development than most accelerators. You don’t need a fully formed idea or team to apply
- We provide longer term, more sustained support than many startup accelerators – up to two years rather than typically a few months
- We are committed to your overall entrepreneurial and career development, as well as the success of your first business. Our goal is that every recruit successfully launches and runs their own business – but we’re also here to provide support if that doesn't work out
We are not competing with accelerators for investments or funding and we’re happy to help you work with accelerators while part of EF if that is the best option for you.
Is all this training really worthwhile? Don’t the best entrepreneurs learn on the job?
Absolutely – learning on the job is exactly what EF is about. We expect you to spend as much time as possible directly building your business. The EF programme is specifically designed to allow you to dedicate as much time as possible to this. Our training is therefore front-loaded (most of it happens in the first six months) and has been designed to make a dramatic difference to the pace of your entrepreneurial journey. The training reflects what successful entrepreneurs wish they had known when they started out.
How are you developing the curriculum for EF?
The curriculum outline was co-developed with our Entrepreneur Advisory Panel with advice from our Student Entrepreneur Panel. We will be seeking input from entrepreneurs, investors and other experts to ensure that the detail and delivery of our training is first class.
Do you take a share of my company if I join EF?
No. There is no charge for participation and we will not take an equity stake in any business or ownership of any intellectual property that is formed as result of EF.
Are there lots of obligations for people who join EF that will distract me from my business?
No. You must attend the summer boot-camp and we expect you to attend most or all of the training sessions. We want you dedicate most of your time to building your business; EF is not compatible with another full-time job, though we understand that some participants will want or need to take on part-time work. We will also ask you to keep us up-to-date with your progress from time to time.
