FirstGrowthVC, a NYC-based accelerator, builds a community of Founders (and strives to avoid engendering competition between the founders within FGVC). FGVC does NOT: (1) take equity, (2) charge, (3) require anyone to do business with anyone else or (4) have a demo day. Please don’t construe this to be a vote against these things, we’ve just chosen a different path. While FirstGrowthVC doesn’t take equity, we’re very proud of our portfolio – we’re stakeholders, not stockholders. We care deeply about our companies. Founded in 2009, FirstGrowthVC counts 135 companies as alumni. With well over half receiving funding, while in the program and several with successful exits already, we’re proud to have played a small role in helping our portfolio and appreciate the jobs and innovation these companies have yielded.
CHECK BACK IN MAY WHEN WE'LL OPEN THE PROCESS FOR THE NEXT VINTAGE.AS YOU CONSIDER APPLYING, PLEASE KEEP THE FOLLOWING CRITERIA IN MIND:
• The founding CEO should be a first or second time CEO
• Building your business must be your full-time job
• You really should have more than one founder working full time on the company
• You must commit to attending the sessions held in New York City
• Our application is simple and shouldn’t take you more than a half hour to complete. If it does, let us know.
• FirstGrowth is committed to providing equal opportunities and does not discriminate on the basis of race, color, national origin, sex, religion, age, disability, sexual orientation, gender identity, veteran status, or any other basis protected by applicable law.
After you click on submit, please email an executive summary for your business to [email protected].
The executive summary may vary from a one-page summary to a full business plan and may be text or a PowerPoint. While 20 pages of text is probably too long and 2 slides is probably too short, we’re not looking for you to reinvent your deck for us. In our experience, summaries seem most useful when they:
• Clearly and concisely describe what your company does
• Discuss the market your start-up is targeting and why that market is growing rapidly
• Explain why your start-up will succeed
• List competitors and describe why your start-up is different
• Provide your background (where did you work and go to school, what responsibilities did you have and how many people reported to you, if any or what did you achieve there). It’s also useful to know whether the founders have worked (or gone to school) together before and/or are related to one another.
• Provide your fundraising history. Has your company raised money? If so, how much has been raised and from whom – we don’t need specific names (though we’d prefer to see the names and to know whether any of them have previously backed you and whether you’ve worked for or with any of the investors – both are good signs), if anyone. It’s also great to know whether you’ve previously raised money at another company and if so, from whom and are they re-investing in this new venture.
• Show that the founders have invested their own cash (not sweat, that’s expected), and explain how much (it’s totally fine if you don’t have enough to have funded the startup…most founders don’t)
• Provide past startup and fundraising experience
• Please include links to the LinkedIn and Twitter for all relevant team members