Insider Brief
- Boost VC’s new program is aimed at nurturing a new wave of founders to create Deep Tech companies.
- FOUNDER START program will invest $50,000 in one team per month so they can start a new Deep Tech company.
- The program is designed to attract those who seek not just capital but a committed first partner.
Boost VC announced a program aimed at empowering a new wave of founders to create Deep Tech companies — and they’re backing it with a $50,000 check.
Boost VC said its FOUNDER START program will invest $50,000 into one team per month to start a new Deep Tech company.
The Boost VC team says the program is inspired by the critical need for early-stage funding to start Deep Tech ideas across various sectors.
The terms of the program are straightforward: a $50,000 investment in exchange for a stake in the company, with a valuation cap set at a $2 million SAF (Simple Agreement for Future Equity). This initiative not only lowers the barrier to entry for aspiring Deep Tech entrepreneurs but also promises a swift turnaround, pledging to respond to proposals within a week of submission.
In a blog post, the team writes: “At Boost VC we believe there are thousands of startups a year who need the first check to get going, whether they are fresh out of university or 5th time founders, and sometimes they don’t want or need a $500k investment!”
According to the post, there are no stipulations where these innovators come from, or what their business experience is. The program is open to a wide group of candidates: those incubating ideas while employed elsewhere, individuals in academia eager to apply their research, or early-stage founders in search of their initial supporter.
Critically, the team believes it’s more than just the money. Deep Tech entrepreneurs often face friction typically associated with transitioning from idea to execution and this program is designed to attract those who seek not just capital but a committed first partner to help guide them on their entrepreneurial journey.
Application to the program is streamlined and user-friendly, involving a brief form submission followed potentially by a 30-minute meeting with the Boost VC team and leading to a prompt investment decision.
Ultimately, Boost VC wants the program to not just fund the next generation of Deep Tech ventures, but to actively help expand the ecosystem of founders capable of tackling some of the most challenging and impactful problems facing the world.
In addition to this fast-track $50k investment option, Boost VC leads pre-seed rounds, investing up to $500,000 in startups that are in the process of raising $2 million or less. This dual approach underscores Boost VC’s commitment to nurturing the growth of Deep Tech enterprises from their nascent stages.
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