About the Program
EFL is a structured mentoring program that provides founders with resources, support and advice to optimize your chances for success. During the course of EFL’s 9-month program, we host 5 in-person sessions to bring together startups with mentors and investors to set goals and to prioritize tasks over the subsequent 2 months.
EFL’s mission is educational. We do not take any equity in the companies and do not charge any fees. It is a 9-month program allowing for ample time for founders to make the progress necessary towards becoming a high-growth company. Startups can and are encouraged to participate in EFL and other programs simultaneously
Yes and it is encouraged.
Unlike other mentorship programs, EFL provides structure and accountability for startups by setting goals at each of 5 in-person sessions. 3 goals per session are determined by the mentors and provide a framework for the startup to prioritize tasks over the subsequent 2 months.
Startups can raise funds at any point during the program and all deals are done outside of the EFL purview. During the final session, a startup can ask if there is any interest in the room to have a financing meeting. The startup manager can coordinate introductions, but there is no commitment for mentors to make an investment.
MBA students are there to help solve known and unknown business problems for their startup CEOs. At a minimum, MBAs are required to complete 5 assignments based on goals set by mentors, but we have seen MBA students provide further value by leveraging their networks to make introductions to major companies, traveling to conferences, and joining high-profile meetings with industry professionals.
We have a broad definition of early-stage. Some companies can be straight out of the lab, while others could have raised a million dollars in funding. Any startup that is pre-Series A could be a good fit.
Our definitions are broad and our goal is bringing in the best startups with the most exciting technologies. Our program focuses on startups who have a core technology they are looking to commercialize as opposed to a startup that is based on an execution play. If you are unsure which track your startup fits into please let us know if you have a preference and this will be decided once we have received all applications in August. Deep Tech includes AI, ML, software, hardware, robotics and other information or physical technologies. Life-Sciences includes therapeutics, biotechnology, devices and other biology based inventions.
No, any startup from anywhere in the world can apply.
No, we have had single founders successfully complete the program. The key is that they are technical and able to execute on the scientific/technical advice provided by the mentors.
Our hypothesis is that combining top scientists with elite business advice will yield exceptional results. Our program is best suited for technical teams who need help starting up their company, so the startup must have some level of technical talent on the core team.
No, if you are located more than 3 hours outside of NYC you can opt to do a Skype interview.