I joked at our last CEO Tales that I was launching a crowd-funded project on Kickstarter for an ‘accelebator’ for ‘accelebators’. Accelebators of course, combine the best aspects of an accelerator programme with the best bits of an incubator programme to guarantee the creation and development of relentlessly-scalable, robustly value-creating startups that will takeover the world.
My vision did actually involve maybe some educational events for the people running the programmes etc. And probably some other stuff. People were enthusiastic about backing it.
Seems those good folk in Silicon Valley have stolen the idea and added a virtual aspect. I present to you, 1M/1M’s Incubator-In-A-Box. If you really want to run an accelerator, but can’t be bothered to do much, this is the solution for you.
One Million by One Million (1M/1M) is a global virtual incubator that aims to nurture a million entrepreneurs to reach a million dollars each in annual revenue and beyond by 2020, thereby creating a trillion dollars in global GDP and ten million jobs.
What?
- Choose the scale at which you wish to start. You can incubate 5, 10, 25, 50, 100, or 200 entrepreneurs.
- Choose one or more locations (or global is fine too).
- 1M/1M will provide the base-level incubation to these entrepreneurs through the Premium Program. This includes online curriculum, mentoring / strategy consulting, introductions to customers, channel partners, investors, and access to the 1M/1M media and social media channels.
- Partner can add any amount of additional resources on top, including funding, real-estate, mentoring, network, legal services, accounting services, etc. First right of refusal for any investment opportunity, naturally, rests with the partner.
- 1M/1M will run contests and help partner recruit the entrepreneurs to bring into their custom portfolio.
- 1M/1M will also screen the best performers from the incubation portfolio for partner to invest further resources in, after a few months of incubation.
How Much?
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The 1M/1M Incubator-in-a-Box costs $1000/entrepreneur/year. So, if you incubate 50 entrepreneurs with us, that would cost $50k for a year.
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We do not take ANY equity, making us the most entrepreneur- (and investor- ) friendly incubator program on the planet. Most incubators take 5-10% equity. Angels come into a clean term sheet with minimum dilution.
My favourite line, “Choose the scale at which you wish to start. You can incubate 5, 10, 25, 50, 100, or 200 entrepreneurs.”
If Silicon Valley didn’t exist, we would have to make it up.
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