Ville
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Paris Spring 2012
Candidatures: Apr 08, '12
Sessions: Apr 16, '12 - Jul 17, '12
Vision
Le Founder Institute est un réseau global de startups et de mentors qui aide les entrepreneurs a fonder les startups de demain. Via notre programme d'incubation de 4 mois, vous pourrez lancer votre startup et recevoir une formation par des experts et le conseil de fondateurs expérimentés.
Sponsors
Microsoft BizSpark - Microsoft BizSpark is a global program that helps software startups succeed by giving them access to Microsoft software development tools, connecting them with key industry players, including investors, and providing marketing visibility to help entrepreneurs starting a business. Microsoft BizSpark is a worldwide partner of the Founder Institute, providing software, support, facilities, and mentoring to many entrprenuers within the Fouder Insitute network. Learn more about our partnership here, and sign-up for BizSpark here.
Cap Digital est le pôle de compétitivité de la filière des contenus et services numériques. Ses 9 communautés de domaine regroupent : 620 PME, 20 grands groupes, 50 établissements publics, écoles, et universités ainsi que 10 investisseurs en capital. Cap Digital oeuvre à faire de la Région Île-de-France l’une des références mondiales du numérique, tant d’un point de vue industriel que stratégique.
Fondé par cinq avocats issus d’un prestigieux cabinet d’affaires parisien, Solferino Associés propose à ses clients des solutions sur mesure et des prestations juridiques d’excellence dans le domaine du droit des affaires.
ISART DIGITAL is a leading Institute, speis based in Paris and has developed strong links with the best international Video Game and CG animation studios : Blizzard, Ubisoft, Pixar, cialised in Video Game and CG Animation. The School Double Negative, Mikros, Buf... The School's reputation is also based on its students’ projects (44 awards in 7 years and many commercialisations) and its international partnerships with the best Japanese schools, NCC and Tokyo University of Technology.
L’Atelier is – and has been for 30 years – the BNP Paribas tracking and analysis centre for trendsetting technology. Its purpose is to help transform innovative ideas into real projects that enable companies to optimize the way they operate within their various environments.
Evenements
Join us for a free event to meet local startup founders, and learn about FI.
- Puerto Rico Startup Ideation Bootcamp (May 22nd, 6:30pm)
- Silicon Valley Startup Pitch Bootcamp (May 23rd, 6:00pm)
- Puerto Rico Startup Pitch Bootcamp (May 29th, 6:30pm)
Twitter (@founding)
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FAST
The Founder Advisor Standard Template
The Founder Institute encourages collaboration between entrepreneurs and other domain experts to build meaningful and enduring technology companies. In this effort, we have released the Founder Advisor Standard Template version 0.75 (“FAST”).
FAST allows any mentor, any advisor or any domain expert to quickly engage with and assist a fast growing technology company at any stage using fair terms for preset equity compensation. Simply check the level of engagement, sign the agreement, and start the relationship. There is no longer the need for cumbersome negotiation, legal drafting and review.
Engaging an Advisor
Entrepreneurs should engage with advisors carefully. Just because someone has a good name or has domain expertise does not mean that they are a good advisor or that there is the necessary level of good chemistry. The Founder Institute recommends that an entrepreneur work with a potential advisor for at least one month and spend at least 8 hours together before discussing the FAST agreement.
A classic approach for an entrepreneur to engage an advisor might follow the following outline.
- Research: The entrepreneur identifies between 10 and 15 target advisors that could help their business grow exponentially.
- Contact: Using Linkedin and Crunchbase, the entrepreneur identifies people that are known in common and secures an introduction.
- Meeting: The entrepreneur sends a five sentence introduction and requests a call, coffee or lunch.
- Request: If the chemistry is good with the advisor, the entrepreneur makes a small request of the advisor to test out the working relationship.
- Opportunity: If the request leads to a successful relationship dynamic, the entrepreneur presents an opportunity for the advisor to engage more formally with the business without discussing compensation.
- FAST: If the advisor agrees to engage, the entrepreneur sends the advisor the FAST agreement.
The FAST Agreement
With just a signature and a checkbox on the FAST agreement, entrepreneurs and advisors can now agree in minutes on how to work together, on what to accomplish, and on the right amount of equity compensation. There are three levels of company maturity that influence the equity compensation: idea, startup, or growth. There are also three levels of engagement for an advisor that also influence the compensation: standard, strategic, or expert. So, for example, if an advisor provides an early-stage startup with an expert level of help by meeting with the team monthly, recruiting some talent, and taking a customer call, then that advisor will earn 1% of the company in the form of restricted stock or options vesting over a two year time period; while a similar level of engagement for a growth stage company is compensated with just 0.6%. The FAST equity compensation framework is outlined below, and the full agreement explaining everything follows.
| Idea Stage | Startup Stage | Growth Stage | |
| Standard: Monthly Meetings | 0.25% | 0.15% | 0.10% |
| Strategic: Add Recruiting | 0.50% | 0.40% | 0.30% |
| Expert: Add Contacts & Projects | 1.00% | 0.80% | 0.60% |
FAST version 0.75 is being refined based on feedback. If you have comments, please Contact form linked to at the bottom of this page to submit them.
FAST FAQ
Why should I use the FAST agreement?
The FAST agreement is designed to save time and money negotiating advisor relationships. There is just one page to fill out, and no legal assistance is necessary.
Can I modify the FAST agreement?
The FAST agreement is free and can be modified as you need.
Why compensate advisors with equity only?
The advisors that the FAST agreement targets are founders and high-level executives for strategic advice through advisory board roles, and these advisors are normally compensated with equity. The FAST agreement is not designed for traditional project consulting and "work for hire" relationships.
How much equity should I allocate to advisors?
The FAST Agreement recommends standard equity grants for an individual advisor. It is not uncommon for a technology startup to have a 5% pool of equity allocated to a group of strategic advisors or an advisory board.
What about localizing FAST to other countries?
The goal is to bring FAST to the four continents and all of the countries where the Founder Institute operates by the beginning of 2012. Want to help localize FAST? Please Contact form linked to at the bottom of this page to submit them.
