The Fellowship Associate is an exciting new role that will work on Entrepreneur First’s most important IP. It’s a massive role, which offers an enormous opportunity for immediate impact on our business, a steep and continued learning curve, as well as long term incentives and development.
The Fellowship teams role is to turn the selected cohort of 100 individuals into fundable teams. After the Fellowship, the teams are passed to Programme to prepare them for external funding.
We were told it was impossible to build companies from scratch, and over the past five years we have built a robust and scalable way to do this. Our method works and has created some of the most valuable companies coming out of Europe and Asia. EF has now created and invested in more than 100 companies, which are now worth >$500m, having raised >$100m in venture capital. Magic Pony Technology was created through the EF process and exited to Twitter in 2016 for $150m, just 18 months after it was founded.
We are very ambitious for the future of EF and we believe that we have a unique opportunity to understand and develop the secret to building billion dollar companies from scratch. No other investor or company has access to this opportunity. This person in this role should use this as their ‘north star’ for how they should spend their time.
This role is particularly crucial as we go towards raising ‘Core 2’ (the shorthand for our next funding round, due in 2018). We are looking to scale significantly across London and Singapore and we will need to continue innovating on our existing model to make this possible.
Roles and responsibilities:
Cultivation - Ensuring that we never lose a Magic Pony (every candidate lost is a $100m startup that never happened)
You will be responsible for ensuring that the individuals we have selected for the Fellowship join. We know that the most talented and ambitious have many different career options they could pursue - it’s your job to ensure they know that EF is the highest value use of their time.
- Delivering a programme of cultivation and training for those who have been selected to join EF
- Spending time with the most talented to ensure they join the programme
- Problem solving with selected candidates to help them work out their edge.
- Creating a rhythm of comms with new cohorts pre joining to keep them engaged
- Delivering Kick-Off Weekend
Team building - Crack the code for the perfect founding team
Over the last 5 years we have developed a robust method for building teams. That said, there is still much to learn. You will be responsible for working directly with the individual cohort members and turning them into companies.
- Running sole founder checkins to help them progress with their ideas and find their cofounders
- Formalising and condensing the EF team building process into mantras and frameworks
- Using data from previous cohorts to ensure teams are in optimal cofounding combinations
Ideation - Ensuring the teams use edge based ideation and work on high growth potential ideas
Much of what you read online about where ideas come from is wrong. Your mission is to ensure that the EF ideation process is properly communicated to the cohort. You need to help them understand it and implement it.
- Continue to develop existing EF frameworks on edge and ideation
- Work directly with the teams to probe on their ideas
- Keep up to date with trends in startups, investment and technology
- Develop training on customer development with the Fellowship Manager and work directly with the teams to instil customer development mantras
Investment - ensuring we build fundable businesses
We have to make an investment decision at the end of the Fellowship. It’s your job to ensure that the companies we have produced are ready.
- Taking learnings from previous investment committees and ensuring this is fed into the team building and ideation process
The person most suited for this role will:
- Have a strong educational background and have experience working at an elite institution
- Have an understanding of how to make data driven decisions
- Ideally have experience working with startups, or founded a startup
To do well in this role, you will:
- Be an expert problem solver and be able to think fast on their feet
- Enjoy working with people and will have strong EQ
- Be ambitious for yourself and for the companies we create
Training and development
Your previous experience will be invaluable, but nowhere builds startups like EF. We will train and teach you the method we have developed over the last 5 years.
You will report into the Fellowship Manager
We recognise that this is an important role for EF, and you will be compensated short term and long term according to experience with both salary and options. Salary range is from £35-45k depending on experience.
- Working at one of the most innovative technology industry companies in the world helping shape the future of the economy
- Generous holiday allowance (+ additional 2 week shutdown over Christmas period)
- Deep dive feedback and progress reviews
- Cycle to Work Scheme
- £200 book/training allowance
- Regular fun team away days to the countryside!
This role will be based in our London office in Bermondsey (in fact it’s a converted warehouse that used to be a Biscuit Factory - there is a climbing wall and go kart track next door!)
Please note: we will not be able to supply a visa for this role.
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