Recruitment Process
Selecting
founders
founders
We Select future Founders Through our Founders Recruitment Process
Our unique Founder’s Recruitment Process provides a new pathway to entrepreneurship.
We select talented, driven individuals like you, with a passion for startups, to become the founders of our next startup companies.
How it works
Apply as a Candidate
Your first step is to apply as a candidate through our website. The application consists of two parts: an online assessment and a video pitch.
Select an Idea
As a team, you and your co-founder will select one of our vetted startup ideas to pursue. Throughout the recruitment process, your team will work to develop the strategy and vision for this future startup.
Week to Week
Each Thursday, task instructions and a video walkthrough will be made available. After reviewing the materials, teams can begin working. On Friday afternoon, we host a live Q&A session where candidates can ask questions. On Sunday night, all task deliverables will be due.
Time Commitment
The recruitment process is demanding but we’ve designed it to fit any schedule. Each candidate should plan to spend roughly 10 hours on work samples each weekend throughout the process. Each team is also given two, 24-hour late submission opportunities to accommodate schedule conflicts.
Pick a Co-Founder
After acceptance, it’s time to pick a co-founder. Each team consists of a CEO plus a CTO or COO. If you’re unable to find a partner in your personal network, we provide partner pairing tools and events to help match you with other candidates.
Recruitment Process
Over the course of seven weeks, your team will deliver work samples spanning a wide range of topics from marketing, to finance and product design. These submissions build toward a high-level business plan and provide opportunities to demonstrate both core business and technical product development skills.
Judging
After each Phase, we evaluate team submissions based on several factors including their ability to use data and analysis to guide decisions, the viability of their strategy and financial plan, and their overall quality of work. The highest achieving teams then move on to the next phase.
Rules and Regulations
All submissions throughout the process must be the sole work of the candidate teams and be completed on time. Late submissions will not be accepted and any team found plagiarizing or outsourcing their work will be disqualified from the process.
Apply as a Candidate
Your first step is to apply as a candidate through our website. The application consists of two parts: an online assessment and a video pitch.
Pick a Co-Founder
After acceptance, it’s time to pick a co-founder. Each team consists of a CEO plus a CTO or COO. If you’re unable to find a partner in your personal network, we provide partner pairing tools and events to help match you with other candidates.
Select an Idea
As a team, you and your co-founder will select one of our vetted startup ideas to pursue. Throughout the recruitment process, your team will work to develop the strategy and vision for this future startup.
Recruitment Process
Over the course of seven weeks, your team will deliver work samples spanning a wide range of topics from marketing, to finance and product design. These submissions build toward a high-level business plan and provide opportunities to demonstrate both core business and technical product development skills.
Week to Week
Each Thursday, task instructions and a video walkthrough will be made available. After reviewing the materials, teams can begin working. On Friday afternoon, we host a live Q&A session where candidates can ask questions. On Sunday night, all task deliverables will be due.
Judging
After each Phase, we evaluate team submissions based on several factors including their ability to use data and analysis to guide decisions, the viability of their strategy and financial plan, and their overall quality of work. The highest achieving teams then move on to the next phase.
Time Commitment
The recruitment process is demanding but we’ve designed it to fit any schedule. Each candidate should plan to spend roughly 10 hours on work samples each weekend throughout the process. Each team is also given two, 24-hour late submission opportunities to accommodate schedule conflicts.
Rules and Regulations
All submissions throughout the process must be the sole work of the candidate teams and be completed on time. Late submissions will not be accepted and any team found plagiarizing or outsourcing their work will be disqualified from the process.
Weekly Schedule
1. Tasks
Released
Released
Thursday
Each Thursday at 2 PM, teams will gain access to the phase instructions and video walkthrough.
2. Live Q&A
Session
Session
Friday
On Fridays, from 4:30-6 PM Launch Factory will host a live Q&A session for candidate questions.
3. Submission
Due
Due
Sunday
All weekly work samples must be submitted by each team by 11:59 PM on Sunday night
4. Task
Judging
Judging
Mon-Wed
We evaluate each submission and determine which teams continue forward
Phase Overview
Each week brings a new set of topics and submissions. Throughout the process, your team will build and expand on the strategy developed in each prior week, gradually assembling a complete business plan for the final phase.
The Final Phase
Selecting our Founders
In the final phase of the Recruitment Process, three remaining teams for each startup combine their past submissions into a complete business plan and pitch their vision for the new company to a panel of experienced venture capitalists.
Ultimately, one final team will be selected to launch each new startup!
Funding + Incubation
If your team is selected, you and your co-founder will become the official founders of whichever startup you chose to pursue in the recruitment process. Launch Factory provides the seed capital, advisors, and incubation tools you’ll need to hit the ground running as you start your new company.
Seed Capital
Launch Factory provides a $300k investment to each newly formed startup
Compensation
Teams can draw up to $100k in compensation, per year, from the seed capital.
Equity Stake
Equity is split equally among each Founder and Launch Factory, excluding set-asides.
Advisors
We provide a team of compensated advisors to each new startup.
Incubation
Access to proven processes and tools to help founders operate efficiently.
Space to Grow
Each new company is given office space, to help you grow and develop your new team.
Eligibility & Requirements
Eligibility for candidates
To apply as a candidate, you must have completed a Bachelor’s degree and be authorized to work in the U.S. That’s it!
Successful candidates also have business and/or technical product development experience and are familiar with the startup landscape.
Requirements for selected founders
There are two important requirements for selected founders. After selection, you and your cofounder must relocate to San Diego to begin working in our headquarters.
Additionally, teams must leave their past employment to begin working on their new startup as full-time founders.
Relocate to San Diego
After being selected, founders will need to relocate to the Greater San Diego Area (if not already here) within six weeks. Some relocation assistance may by provided.
Full Time Founder
Selected founders will work full-time on their venture in the provided office space at Launch Factory HQ.
Founding Documents
Founders must sign necessary company formation documents, including a Proprietary Information and Inventions Agreement with their new company.
Key Dates
Candidate
Registration
Registration
Fall 2020
Application Opens
Fall 2020
Partner Pairing Opens
21 February
Application Closes
28 February
Partner Selection Deadline
3 March
Final Teams Confirmed
Candidate
Registration
Registration
Fall 2020
Application Opens
Fall 2020
Partner Pairing Opens
21 February
Application Closes
28 February
Partner Selection Deadline
3 March
Final Teams Confirmed
Founders
Recruitment
Recruitment
3 March
Recruitment Kickoff
23 April
Final Presentations
Founders
Recruitment
Recruitment
3 March
Recruitment Kickoff
23 April
Final Presentations
Learn More
Our Next Startups
Learn more about our 2021 startup ideas and our Ideation and Due Diligence process
FAQ Section
Visit our FAQ page to find answers for Founders Recruitment Process questions
Our Next Startups
Learn more about our 2021 startup ideas and our Ideation and Due Diligence process
FAQ Section
Visit our FAQ page to find answers for Founders Recruitment Process questions
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