How long will the program be?
How many founders are accepted to each cohort?
We accept 8-10 companies per cohort, and all principal founders or CEOs of Asian descent may participate.
Where is the accelerator-based? Do I need to be in a certain city?
All programming is held virtually and available to founders based in the U.S.
When will I know if I’m admitted into the program?
Selected Founders will be notified by the Gold Rush Venture leads after the Selection Committee has completed the voting process. Fall 2021 applications are due August 31st and finalists will be interviewed on a rolling basis through early September. The selected class will be notified by mid-September.
Do I receive funding if I’m admitted? Is there a cost to the program?
Each Gold Rush company receives $100,000 in seed funding in exchange for 5% equity on a post-money Simple Agreement for Future Equity (SAFE), the “Gold Rush SAFE.”
When your company is admitted to Gold Rush, you receive $100,000 up front and we enter into a participation agreement that includes guidelines around Gold House’s right to invest in future financing rounds.
When your company raises its first priced round, the Gold Rush SAFE converts into preferred shares representing 5% of the company. Other investors purchase shares at the price per share of the preferred stock being sold in the round.
What does the program and time commitment look like?
Over the 12 weeks, you’ll be privy to numerous community building and networking opportunities to meet other founders in your cohort. You’ll also be matched with an Advisor who you can meet with 1:1 weekly, biweekly, or at some other cadence that works for you both. Throughout the program, we’ll host four mandatory sessions that are designed to increase your ability to build, market, and scale your company. You’ll hear from founders that are a few steps ahead and deep dive into topics such as Community Building (with your customers and employees), Brand (and how to articulate it), Company (how to approach product, growth hacking, and fundraising), and Leadership (how to manage the human aspect of being a founder). Time commitment will vary, but expect to spend on average 1-3 hours per week in the afternoon or evenings on Gold Rush-related activities.
What is the expected time commitment?
Approximately 1-2 hours per week. In order to graduate and be eligible for Gold Rush Alumni benefits, you are expected to attend the majority of biweekly sessions and networking events. We request your full engagement, both during synchronous programming and offline engagements with your advisor and other founders in your cohort. We are a non-profit, volunteer-driven organization, so your active participation helps maintain our thriving community.