Our first cohort is underway!
Our first batch is S21 and we are excited to work with a great group of people.
For the first cohort of EigenSpace we are excited about how our process has evolved and how founders have responded. A big adjustment we made was to give the founders some time to develop a relationship with us. After we have demonstrated some value to them, they can decide if they would take our investment.
It was a test for us on whether our help and coaching requires them to accept our terms and is valuable. We want to see the founders find success and will help them no matter what. We also need to focus on the companies we invest in. EigenSpace will be successful if we do good by founders, that is something we strongly believe and we put that into practice.
Specific adjustments we made include:
A four week intensive ‘get to you know you/us’ period with weekly workshops and one on one meetings. The workshops covered what drives investors, investment, and success for founders while sharing our stories and experience.
In that four weeks we work with the founders in developing a deeper understanding of who they are, what they are working on, and then in week 5 we transition to a milestone driven structure
We worked with more than five companies to start the process and continue to coach the companies we don’t invest in -- but not on the intensive track. This helps build trust.
The types of companies in the five that entered our first cohort range from just started with an ambitious idea to having more than a few customers and revenue.
What we have observed far:
There seems to be a large number of founders with ambitious ideas that look at the support that is available to them and don’t find it helpful to them.
It is hard for founders to structure their thinking in a way that is moving them forward when they look for guidance from the information that is out there. It is noisy.
Coaching does help founders recognize the plateau they are on and find the path forward.
Join our next cohort!
We plan on starting our next cohort in the early Fall of 2021. If you are interested in learning more about EigenSpace and how you might fit, fill out a form! We are having conversations now with founders and will probably have an info session in late June or early July with some of our cohort companies.