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not invoices!
There's a good mentor behind every great founder!
Steve Jobs had Ed Woolard and John Sculley, Bill Gates still has Warren Buffet as his mentor, Marc Zuckerberg had Roger McNamee.
Most successful founders had one or more mentors that helped them turn their idea into a successful business. And research shows that companies with founders who had a mentor are more than twice as likely to survive the first 5 years, than companies without the help of a mentor.
But according to research from data firm Kabbage Inc, 70% of all founders don't have a mentor to help them.
We at b-labs are here to change this.
Because we believe that every founder should have the best possible support she or he can get.
We know that money is scarce when starting a company and you don’t want to give away 2 or even 4 percent of your company to a mentor or coach, not knowing what value you get in return.
But we also know that top mentors and coaches don’t work for free. Their time, network and knowledge are far too valuable to be a free handout.
That’s why we came up with the b-labs mutual skin in the game system.
We only get paid if and when you are successful.
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No equity upfront
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No cash payment
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No debts if no success
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Monthly cancellation after the initial 3 months.
We go 100% up front. If we don't help you make your start-up a success, you don’t pay us.
We take the full risk without surcharging any additions on our usual daily rates.
How does it work?
We sign a mentoring contract with the standard b-labs conditions with one exception: the accrued fees are exchanged one-to-one for options in the first investment round following the signing of the contract.
The conversion into options takes place at the best rate that has been offered to other investors in the time between the signing of the contract and finalization of the investment round.
Who can apply?
All startups with less than $1m in funding and with a last valuation under $5m.
All entrepreneurs, founders, scientists and researchers in the idea phase or pre-founding phase. If you have an idea or a technology and a plan for how to turn the idea into reality, we are here to help.
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For all other startups and companies, we offer our exceptional service without the benefit of not needing to pay, but including all our expertise.