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Station F, the startup campus in Paris, is completely revamping its founders program to turn it into an accelerator program. Founders who decide to join the Accelerator enjoy a number of different benefits. They should also give 1% equity share to Station F.
“We are changing Station F’s flagship program. Everything is changing but the name,” said Roxanne Varza, Station F’s executive director.
With the Founders Program, Station F is looking for entrepreneurs Only get started. Even if these groups do not meet the product-market fit criteria, they can apply to join the program.
Of course, when these startups join the Founders Program, the first thing they get is a dedicated office space at Site F. You will then begin a 6-week intensive program with workshops and classes. For example, you’ll learn about startup team building and product-market fit.
After that, starters get another six weeks to iterate and execute. After this first step, they settle in front of everyone. Novices remain at Station F for an additional 12 months. At the end of the program you reset the start.
The new Founders Program lasts a total of 15 months, which is significantly longer than the original Founders Program. “With short programs, startups want to stay and we spend a lot of time on changes and logistics,” said Varza.
To continue focusing on these startups, Station F is reducing the size of its Founders Program. Site F can host up to 200 startups with its Pre-Founders Program. It now plans to admit 25 startups in two batches a year through the Founders Program.
Station F attempts to match each startup with a consultant. For example, some mentors include the founders of Alan, Swill, and The Sandbox. Site F advises beginners to encourage by adding the advisor to the cap table. It may vary depending on the advisor but Site F recommends at least 0.2% in equity.
The startup campus is running its first batch with 21 different companies. These companies are focused on four verticals – Web3, FinTech, Impact and Creative Economy. Constants will change in future collections.
And, yes, Station F is taking equity for the first time in those startups. “In the beginning, we wanted to be founder-friendly. Some people told us it wasn’t much, others said it was too much,” Varza said.
But Site F is not here to take 50% fair share. We want to make sure we have skin in the game and keep going,” she added.
Site F relies heavily on personal recommendations from others in the technology ecosystem. The internal team will screen the applications to select some starters. Applications for the next batch will begin around the end of November.
There are other programs on campus as well as partnering with other companies to run their own programs at Site F. All other programs will remain unchanged.
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