Founded in Philly FAQ
In case you missed it, our #FoundedinPhilly Accelerator Programs are accepting applications now! Our Signature Fall programs kick off in late September, and will welcome a new group of founders to learn how to grow and scale their MVP-Stage businesses.
As Director of Programs & Events, I receive a lot of questions about the criteria to apply, the time commitment needed, and the parameters of the application process. Read below for some frequently asked questions about the program:
Is this in person or virtual?
A: Each program will take place virtually, via Zoom. There will be opportunities throughout the program for the cohorts to gather in person and to meet one another and get connected with the community as a whole.
What's the time frame?
A: These programs are 12 weeks long, with the following expected commitments each week:
Am I in the right stage to apply?
If you have a minimum viable product (MVP, Beta or Prototype), your idea is scaleable, fits into one of the industries named above, and you are able to dedicate the time needed to immerse yourself in the program, we would invite you to apply!
What if I have co-founders?
All co-founders are welcome to sign in to the weekly sessions, complete the assignments and meet with mentors! Only one (1) co-founder from each company is required to attend each weekly session, and it does not have to be the same co-founder each time.
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How much does it cost to participate in the program?
It is $25 to apply to our accelerator program, and if you are accepted as part of the final cohort, there is a sliding scale fee beginning at $350 to participate.
Is there a payment plan?
In addition to sliding scale participation fees, we offer payment plans and do our best to ensure that the fees are not an unsurmountable barrier to entry, up to and including scholarship options for cohort members.
How much equity do you take?
At present, PSL does not take equity in the companies that participate in, or graduate from, the Founded in Philly accelerator program.
What do founders get out of the program?
Spring 2022 Alumni Dyshaun Hines expressed: "Since participating in the accelerator I’ve gained access to an amazing network of mentors, collaborators, and peers. I believe each of the relationships has offered a level of mentorship through a variety of experiences.?”
Fall 2021 Alumni Tracey Welson-Rossman put it this way: “The program kept me on task while also providing me new ways of thinking of the business. Having the “space” to do this on a weekly basis is invaluable.”
Spring 2021 Alumni Peter Yeargin stated: "The program has exposed me to an amazing group of mentors and coaches, along with a huge network of supporters and friends from my cohort. We’re all in this together and the support I received and have provided to my fellow founders feels like it’s just starting. It’s rewarding to have founding conversations with people in similar startup states or just a bit ahead of me.”
Fellow Spring 2021 Alumni Cody Eddings said, "Being part of Founded in Philly helped during this time because it offered a support base of well-connected, bright startup leaders to network with and grow our business through throughout the past 5 months. Additionally, reaching out to other founders in the program and offering any help we could provide, and even just making pleasant connections, was always a pleasure."
How do I apply?
Philly-area founders: We would love to hear from you! Learn more about the programs and apply here!