How long will the program be?
The program will take place over 12 weeks.
How many founders are accepted to each cohort?
We accept 8-10 companies per cohort, and at least one principal founder must identify as Asian and/or Pacific Islander.
Where is the accelerator based? Do I need to be in a certain city?
All required programming is held virtually and available to founders based anywhere in the U.S.
When will I know if I’m admitted into the program?
Selected founders will be notified by the Gold Rush program leads after the Selection Committee has completed the voting process. Spring 2022 applications are due February 17th and finalists will be interviewed on a rolling basis through early March. The selected class will be notified by late March.
Do I receive funding if I’m admitted?
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 are the terms of the Gold Rush SAFE?
Our standard SAFE agreement and terms can be found here.
Does my venture have to be incorporated? What if my company is an LLC?
As is standard for VC fund investments, in order to be eligible to receive the $100,000 in seed investment, your company must be structured as a C Corp (rather than an LLC or S Corp). Companies that are currently operating as LLCs may apply, but if selected must convert to C Corp in order to receive the investment.
What if we have previously raised funding?
The Gold Rush SAFE will invest at a $2MM valuation cap regardless of prior valuation. Our hands-on approach to founder education and advising means that we provide value on top of that of traditional VCs and angels. Alumni of Gold Rush are also invited to join Gold House Futures, a lifelong membership community that unites the next generation of top API entrepreneurs, creatives, and social impact leaders. The ongoing business development and promotional opportunities provided through Futures are what makes Gold Rush unique and explain our approach to seed funding.
What does the program 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 subject matter experts and founders that are a few steps ahead as you 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). The program will culminate in an opportunity for the founders to showcase their products to investors and the Gold House network.
What is the expected time commitment?
Approximately 2 hours per week. In order to graduate and be eligible for Gold Rush Alumni benefits, you are expected to participate in the majority of sessions and networking opportunities. We request your full engagement, both during synchronous programming and offline engagements with your advisor and other founders in your cohort. The Gold Rush experience is not only a targeted program but also a curated community, so your active participation is at the core of everyone’s Gold Rush experience.