Entrepreneurship Without Risk (EWOR) has launched its inaugural ‘founder fellowship’ program. This new initiative commits a game-changing €60 million to support new entrepreneurs. This initiative aims to provide selected founders with the necessary capital and mentorship to transform their innovative ideas into successful ventures.
Founded in 2021, EWOR is operated by a team of six dedicated entrepreneurs: Daniel Dippold, Alexander Grots, Florian Huber, Petter Made, Quinten Selhorst, and Paul Müller. The fellowship program will provide each selected founder with €500,000 in return for a 7% equity share in their company. EWOR’s dedication to cultivating up-and-coming talent is a natural fit with its entrepreneurial ecosystem-building mission.
The young organization can count on an impressive bench of talent, running a secretive vector database that keeps parallel records of nearly 50,000 job seekers. This advanced system allows EWOR to analyze intricate details of candidates’ GitHub profiles, streamlining the selection process for potential hires.
“We have 50,000 applicants in a vector database that understands every intricate detail of a person’s GitHub. So if you need to hire a person with 10,000 lines of code and Rust skills, I can find that person with one query.” – Daniel Dippold
EWOR’s highly virtual-first model means that all participants can receive individualized support via tailored one-on-one mentorship sessions. Participating founders will be matched with one to five hours of weekly mentorship from expert ‘unicorn founders’. Throughout the program, participants will be matched with valuable mentorship. In addition, they will gain access to a national network of 2,000 mentors, venture capitalists and subject matter experts.
The fellowship program is divided into two tracks: ideation and traction. This inclusive framework creates the opportunity for entrepreneurs at every stage of their business journey to receive targeted support. EWOR alumni are currently having an exceptional career success rate with every class. On average, they’ve raised an impressive range between €1 million to €11 million cumulatively during their fellowship period.
EWOR has previously successfully supported startups such as Aspect Health. This startup, which was born in Moldova, went on to fundraise successfully in Silicon Valley and New York, at one point achieving a $50 million valuation. The program has resulted in amazing fellows such as Ricky Knox. He most recently achieved two exits in the nine-figure range with Azimo and Tandem Bank. Tim Seithe is another to impress, taking Tillhub to a super impressive €100 million+ bootstrapped exit.
This year, EWOR has accepted just 10 founders into its fellowship cohort. This investment amounts to €500,000. This includes €110,000 directly from EWOR GmbH as well as another €390,000 via an investment fund, through an uncapped convertible note or similar instrument.
EWOR has a dynamic vision for the future! They aspire to accelerate 35 unique entrepreneurs annually, seeking out the entrepreneurs that have an eye for visionary thinking, technical sophistication, and a creative hunger and passion to win.
“The founders of EWOR are deeply technical and understand the challenges of building a world-changing tech company.” – Jörgen Tveit
Leave a Reply