Overview
- Selection for participation is via peer and investor review through Angel Office Hours
- H&F does not provide funding but introductions to investors
- Weekly dinner meetings are required for all Co-op members. Sessions last 13 to 15 weeks
- Relevant speakers and mentors share their experiences and provide personalized guidance
- Office hours are available for a broad network of top mentors and investors
- There is no traditional "Demo Day". Rather...
- Pitch videos are shot of demo day presentations so founders can focus on products and not slide decks
- Videos are emailed to our preferred investors, posted on H&F TV and on AngelList profiles
- A Not-a-Demo-Day reception will be held in your honor. Select investors and awesome people are invited to attend in a relaxed setting
- Startups are submitted to AngelList, the most efficient and scalable way to connect with thousands of global investors
- Personal referrals to investors whose investment theses fit founder needs are available
- Monthly alumni dinners will be available to all Co-op graduates
- Ongoing support is available after The Co-op session is over
The Co-op Core Values
- We are invested in your success. Because H&F's startup is The Co-op, we can only succeed as much as our startups do
- There are no gurus running The Co-op. We seek the input of many advisors and rely on the wisdom of other members
- We do not invest because it would change the dynamics of the group and might be a conflict of interest
- We don't do hype. Startups should be judged on their products and not their marketing plans
- Individuals should be able to develop their skills and not just their startups, so they can become serial founders
- Assisting startups to obtain funding is a priority
- We want to scale The Co-op to provide more services to our 9,000 global members
- Giving back to the H&F community, when founders have something to give such as time, advice or resources, is encouraged
- Ongoing relationships with graduating Co-op startup founders are essential to development of a community
Cost
- Pay what you think it's worth
- It is The Co-op's goal to provide at least as much value as other incubators, so we ask that participating startups contribute some equity at the end of the program. This equity will go toward making The H&F Co-op sustainable in the future
- For reference:
- An advisor's stake is 0.5 - 1%
- Incubators generally ask for 5 - 10% of the company in exchange for $16 - 50K
- Angel terms vary widely
- Mini Venture Capitalists/Super Angels (investing other people's money) generally ask 5 - 10% equity in exchange for $100 - 500K and an exit in excess of $10M
- Venture Capitalists usually take 20% of a $3 - 7M Series A funding and expect an exit in excess of $100M
- We feel between 0.5% and 4% is fair for The Co-op startups, prior to receiving Series A funding. But, of course, you decide