EF: We’ll Pay You to Launch a Startup

Calling all Hackers:

There’s a new kid on the block in Berlin and they’re here to facilitate the next German unicorn.

Why Berlin:

Berlin is a entrepreneur’s market that attracts all kinds of talent from around the world. Startup Genome’s Global Startup Ecosystem Report 2017 found that Berlin has the world’s second highest percentage of immigrant founders ranking only behind Silicon Valley. Forty-three percent of the city’s founders are foreign born.

Berlin Lead Zefi Hennessy Holland speaking at EF’s launch event — Factory Mitte, 22 February 2018

“Entrepreneur First can help super ambitious people start companies.”

- Zefi Hennessy Holland, EF Berlin Lead

Accelerators in Berlin are as diverse as the startup founder’s themselves: some are specialized by industry, others focus on high growth tech companies only and some will help any founder with a promising idea. About 60 accelerators are already operating in the city according to Berlin Partner for Business and Technology, an official organization that helps grow business. What’s different about Entrepreneur First’s offering for Berlin is that they back extraordinary people who haven’t found their idea or team yet and facilitate the birth of genius. They start with individuals rather than existing companies.

How Entrepreneur First Works:

For anyone already familiar with Entrepreneur First, the model for Berlin is not the same as its London or Singapore programs. As already mentioned, the focus is on finding talent and helping founders discover their teams. The Berlin program will focus on elements like team building and securing potential business partnerships.

  • Attend interview
  • Join the cohort and get paid €2,000 per month during the program
  • Participants find co-founders from the cohort
  • If a founding team and business concept is identified, the pair will then be eligible for investment from EF’s fund
  • Participants that don’t want to continue to the next step get to keep the full stipend paid for being on the program.

EF Founder’s Persceptive:

Current London cohort (EF9) member Dr. Raphael Holca-Lamarre explains that most participants in his program have a tech or product management focused background but there aren’t many people with business management experience.

Holca-Lamarre (left) speaks at the EF Berlin launch along with Berlin Lead Zefi Hennessy Holland (right).

Entrepreneur First — The Data:

EF believes they are the best place in the world to find a co-founder and build a seed-funded startup from scratch. Founded in 2011 by Matt Clifford and Alice Bentinck, EF now operates accelerators in London, Singapore and Berlin. The founders both joined McKinsey as fresh graduates in 2009 and the EF concept was born while on the job.

EF Berlin launch event at Factory Mitte — 22 February 2018.

Berlin Deadline:

Zefi Hennessy Holland says that Berlin’s first cohort is 80% full so interested entrepreneurs should apply soon because applications are decided on a rolling-basis and will close as soon as places are filled. Zefi also says that his team considers all applicants not just those from techs or product managers, so business types should also feel encouraged to apply. The EF Berlin cohort will begin their adventure on Aprill 3rd, 2018. More information on the program and how its funding works plus the application can be found on EF’s website.

Marketing Executive combining Storytelling & Digitial Technology. Techstars Mentor. Former Bloomberg Journalist. Cambridge MBA. www.ShowMeMyCustomers.com

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