Founder Institute brings early-stage startup program to Eastside | Director warns not all will graduate

Founder Institute Seattle director Maria Dykstra says the early-stage startup accelerator is focusing on drawing in Eastside entrepreneurs for its next 14-week program, but cautions not everyone admitted will make it to the end.

Founder Institute Seattle director Maria Dykstra says the early-stage startup accelerator is focusing on drawing in Eastside entrepreneurs for its next 14-week program, but cautions not everyone admitted will make it to the end.

The institute takes in technology entrepreneurs with an idea, helps them narrow their focus and teaches all facets of creating a startup.

“You can come with an idea and we will turn you into a founder,” Dykstra said. “What we tell you is we can save you seven years of anguish.”

There are 80 Founder Institute locations in 40 countries, the Seattle program graduating 65 companies over the past five years. An average 86 percent who enter the program will succeed, Dykstra said.

“The first day, we start our orientation and we scare the crap out of them,” she said.

Those who pay the $999 for a semester receive no guarantee they will remain in the program for the full 14 weeks, having to attend every class, finish every assignment and make a successful pitch to a group of mentors/investors after the first six weeks.

“If you don’t get a certain level of score, you’ll be asked to leave,” Dykstra said. “Those who survive (the program) actually survive.”

For the first time, the Seattle program is relocating to the Eastside under a partnership with Impact Hub Bellevue, which is sponsoring the Founder Institute with classroom space and infrastructure support at the Lincoln Center. The city repurposed the office building as a business incubator, partnering with Impact Hub last year.

The next 14-week program starts April 13 and the Founders Institute is offering Bellevue Reporter readers a chance to apply for free by clicking here. The application includes testing applicants to determine if their personality and aptitude fits what is required of a startup entrepreneur to succeed. While about 35 people will be added to the program, Dykstra said about 15 are expected to graduate.