Entrepreneur First
| Privately held company | |
| Industry | High tech startups |
| Founded | 2011 |
| Founders |
Matthew Clifford Alice Bentinck |
| Headquarters | London, England |
|
Area served
|
United Kingdom, Central Europe |
|
Key people
|
Matthew Clifford, CEO Alice Bentinck, COO |
| Website | joinef |
Entrepreneur First is a London-based startup accelerator which assists promising UK and Central European tech graduates and those already working in technology firms to design and run their own startups. Founded in 2011 by Matthew Clifford and Alice Bentinck, the program helped establish 75 startups valued at $450 million in its first four years. Entrepreneur First differs from other accelerators such as Y Combinator and Wayra in that it seeks out individuals with concepts rather than existing companies.
In 2016, Entrepreneur First opened applications for a Singapore programme, its first expansion abroad.
Entrepreneur First aims to attract the top graduates in computer science and engineering, with the goal of encouraging them to start their own businesses rather than enter traditional career tracks in the corporate or banking world. The program also accepts applicants who are already working in tech firms. Applicants do not need to have an idea for a business or a team in place before applying, but are evaluated solely on the basis of technical talent.
The six-month, cohort-based program is divided into two parts. The first three months are devoted to building a team and "identifying a problem they want to solve before creating a product to solve it". During the second three months, participants receive guidance in running a business from mentors in the science academic and venture capital fields. Participants also meet with senior business executives and government officials at 10 Downing Street. The program furnishes each startup team with a monthly stipend for living expenses, office space, and administrative and legal assistance.
The program culminates in a Demo Day at which each team delivers a three-minute pitch before dozens of venture capital investors and angel investors. Entrepreneur First continues to guide startup teams through fundraising and hiring over the next six months.
Entrepreneur First invests £16,600 to £19,900 in each startup in London, and SG$30000 in Singapore. In return, it claims an 8 percent equity share.
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