The Founder Institute: accelerator for idea-stage entrepreneurs comes to Philly

Another global effort brought locally — this The Founder Institute — is launching in Philly to get entrepreneurs-to-be out of their day jobs and into the startup world. It’s part of the flood of efforts feeding a countrywide entrepreneurship boom.

The international accelerator for idea-stage entrepreneurs is already in 40 cities, and now, thanks to longtime local tech scene member and Real Food Works COO Mike Krupit, it will join Philly’s quickly-growing incubator/accelerator scene.

RSVP for tomorrow’s info session and “Pitch Boot Camp” here. RSVP for the Feb. 28 info session here.

The goal is for participants to learn from experienced entrepreneurs and be ready to launch their business by the end of the 15-week program. Eighty-seven percent of program graduates (not participants) leave their day jobs to work on their business for at least a year after the program ends, Krupit said.

Learn more at an info session and “Pitch Boot Camp” tomorrow at Seed Philly with guest speakers Brett Topche, Managing Director of MentorTech Ventures, and Krupit. There will be another session on Feb. 28 with DuckDuckGo founder Gabriel Weinberg.

Apply here by April 14. The program costs about $600-$700.

A normal Founder Institute class is composed of roughly 30 participants, Krupit said, about half of which usually complete the program. In order to graduate, participants must pass assignments and reviews during the program and must also be ready to launch their business by the end of the Institute. Class size for the Philly’s inaugural Founder Institute will depend on the quality of the applicants, Krupit said. There will be at least 20 entrepreneur mentors.

Krupit, formerly of Langhorne incubator Novotorium, said he decided to lead the charge to bring The Founder Institute here because he missed working with the local tech community. Krupit is working with entrepreneurs Herb Cohen and Bob Solomon to run the accelerator.