Special Announcement: Funding the Next Generation of Entrepreneurs with David Booth & Erik Torenberg
At On Deck, we believe that startups are the building blocks of a better future. Startups drive global economic growth by creating jobs, improving quality of life, and making meaningful progress to solving society's biggest problems. We also believe that the the biggest constraint on startup creation is the number of founders - for each person starting a company today, there are hundreds more sitting on the sidelines. This is an enormous waste of human potential.
That's why we are excited to announce ODX - a $100 million community-backed fund to put the next generation of founders in business.
ODX backs founders with a check for $125,000 and unlimited access to the On Deck network, which includes thousands of companies, founders, operators, and investors that builders can tap into for talent, capital, and distribution. Many of those investors & operators are also participants in the community-backed fund, meaning that they are personally incentivized to help ODX participants succeed.
ODF - our original founders fellowship - will continue to exist under the On Deck umbrella, but will now be free for those accepted. ODF and ODX are interlinked programs, separated by a key difference: conviction. ODF is for prospective founders who are in more of an exploratory phase. They are likely researching markets, validating an idea, hunting for a cofounder, or leveling up founder skills. ODX will be for those 100% ready to take the plunge and start a company.
Both programs will exist as part of On Deck's global network of networks. Erik & David join the show to discuss their belief that Silicon Valley is no longer a physical location, but a mindset. On Deck captures the essence of Silicon Valley - an abundant system of talent, capital, & ideas, and makes it available for an internet-native era. Our conversation today speaks to these big ideas and dives into the exciting details of ODX and the many other programs & communities that make up the On Deck ecosystem.
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