There is a growing consensus that entrepreneurs will be the force behind economic, social and environmental development this century. There are hundreds of thousands of budding entrepreneurs with world-changing ideas that need the right platform and training to take off. An organization called the Unreasonable Institute aims to help these audacious gen-next entrepreneurs take flight!
Are you convinced your venture will forever change the world? Then you have until November 1o to apply to The Unreasonable Institute!
What is the Unreasonable Institute?
The Unreasonable Institute is a mentorship-driven program that arms for-profit enterprises creating solutions to the world’s biggest social and environmental problems with the resources they need to do so. Fundamentally, the Institute helps build stronger, more financially sustainable businesses that can be scaled to impact millions of lives. They are arming the entrepreneurs who can take on the world’s major issues with the mentorship, capital, and network to make it happen.
How is it done?
Each year, the organization picks 25 entrepreneurs from every corner of the globe to live under the same roof for six weeks in Boulder, Colorado. These entrepreneurs receive training and build long-term relationships with 50 world-class mentors, ranging from the co-founder of Google.org, to the CTO of HP amongst others. In the process, they also form relationships and build their businesses with 20 investment funds, receive legal advice & design consulting, and pitch to hundreds of potential investors and partners.
Applications are now being accepted through November 1o, 2011 for the class of 2012!
Check out this 3-minute trailer to get an inside peak and read on to learn how it works!
How are the Finalists or Fellows Chosen?
Of course you have to go through the application and interview process where the top 50 applicants are chosen based on their venture plan, impact, marketability etc. But the way the final 25 are picked in Step 3 is the interesting part…
The finalist Marketplace or Step 3 of the selection process is the most challenging round of selection and the most rigorous test of entrepreneurial ability. The cost of attending the Unreasonable Institute is $10,000, but the applicants, or their teams, are not allowed to pay for it. Instead, the Finalists are given 50 days to raise the $10,000 in small increments on the Finalist Marketplace. The first 25 Finalists to do so will be deemed Unreasonable Fellows and attend the 2012 Institute.
The final test also takes care of the “rich uncle problem” by capping the amount individuals can donate. This levels the playing field for applicants with fewer wealthy connections willing to donate large sums of money. Read more about the finalist marketplace here.
Want to learn more?
Get a glimpse of what a summer at the Unreasonable Institute is all about by watching the 2011 Unreasonable Fellows go from arrival to graduation on the 7-part web series on Unreasonable.tv! Start with Episode 1 here.
The Unreasonable Institute is made up of a dynamic group of young people who call themselves the Unreasonable Team! Teju Ravilochan, co-founder of the Institute, sums it up,
I want to live in a world where every human being can be the master of their own fate, unbound by the chains of poverty, oppression, or injustice. To me entrepreneurship, coming from French for “to taking into one’s own hands” gets at that fundamental human drive to rule our destinies. And when that drive is combined to empower others to do the same, I believe no force can be more powerful.
The program has helped 50 entrepreneurs through its 2010 and 2011 programs and is trailblazing towards the next 25 in 2012. Are you one? You have until November 10th to apply.