We think a lot about how to "unlock" talent at @beondeck.
For everyone founding or working on a startup today, there are hundreds more who should be but can't.
We're developing something we hope will help them.
Excited to share more about "Runway" and the "Convertible ISA"
👇
For everyone founding or working on a startup today, there are hundreds more who should be but can't.
We're developing something we hope will help them.
Excited to share more about "Runway" and the "Convertible ISA"
👇
10k+ people applied to On Deck in the past few years.
Many could be great founders but don't have the personal runway to leave their job and go full time.
Some have to fundraise prematurely.
Others hack "on the side" for years, or never start at all.
Many could be great founders but don't have the personal runway to leave their job and go full time.
Some have to fundraise prematurely.
Others hack "on the side" for years, or never start at all.
Still others come into the Fellowship intending to work on their own idea, but end up hopping aboard another rocketship as founding team/early hires.
We love when this happens. This "fluidity" of opportunity is what makes the Fellowship so powerful.
We love when this happens. This "fluidity" of opportunity is what makes the Fellowship so powerful.
We want more people to have this opportunity.
So we're piloting "Runway, by On Deck."
Runway gives you:
• access to the On Deck Fellowship (usually $1,490)
• $5k/month x 4 months
• career/CEO coach
• talent concierge (help finding co-founder, building team or getting a job)
So we're piloting "Runway, by On Deck."
Runway gives you:
• access to the On Deck Fellowship (usually $1,490)
• $5k/month x 4 months
• career/CEO coach
• talent concierge (help finding co-founder, building team or getting a job)
In return, we get a $25k "convertible ISA" (CISA)
We help you start a company and raise, or help you get an amazing job — and you only give equity/pay us back when you're successful.
Here's how it works:
We help you start a company and raise, or help you get an amazing job — and you only give equity/pay us back when you're successful.
Here's how it works:
If you found a company and raise a minimum of $250,000, the CISA transforms into a SAFE with a $2.5M post-money cap.
$25k at 2.5M post = 1% ownership in your company at the next priced round. Plain and simple.
You pay nothing back, we're behind you all the way.
$25k at 2.5M post = 1% ownership in your company at the next priced round. Plain and simple.
You pay nothing back, we're behind you all the way.
If during/after ODF you decide to get a job or join another startup, we'll get to work helping you find the *perfect* role.
There's now 150+ startups in the On Deck alumni community, and we're connected to another 4,000 companies through @viabyondeck
There's now 150+ startups in the On Deck alumni community, and we're connected to another 4,000 companies through @viabyondeck
Once you land your dream job, you pay 17% of your monthly income until you hit the 25k repayment cap.
You pay nothing until you're earning an $80k+ salary.
To reiterate: with Runway, we pay and support you while "on deck", you pay nothing until you start/find your next thing.
You pay nothing until you're earning an $80k+ salary.
To reiterate: with Runway, we pay and support you while "on deck", you pay nothing until you start/find your next thing.
As a reminder: this is a pilot. We are offering a handful of CISAs during our upcoming @beondeck fellowship cohort (ODF4).
If successful, we'd like to expand the program by providing things like health insurance, immigration assistance, and more.
If successful, we'd like to expand the program by providing things like health insurance, immigration assistance, and more.
Are you interested? To be considered, you must apply and *be accepted* to our June @beondeck Fellowship cohort.
Details here:
If you’ve already applied to ODF4, please ALSO apply to Runway here: beondeck.typeform.com/to/YmpI4b?sour…
Details here:
If you’ve already applied to ODF4, please ALSO apply to Runway here: beondeck.typeform.com/to/YmpI4b?sour…
