Data Release: Future Founders Fellows Achieve Significant Economic Impact
Future Founders, a non-profit organization that believes every youth can become an entrepreneur, today shared its 2nd Annual Fellowship Impact Report. This report details the tremendous economic impact achieved by its first three Fellowship cohorts of millennial entrepreneurs in 2016 and 2017:
- Created 234 jobs (102 full-time jobs; 132 part-time jobs)
- Generated $9.1 million in gross revenue
- Raised $3.3 million in outside capital
- 3 company acquisitions
Our Fellows’ gross revenue grew from $3.4 million in 2016 to $5.7 million in 2017. Also, our Fellows created 97 jobs and raised an additional $2 million in capital in 2017.
The Fellowship is a prestigious year-long cohort that accelerates the development of the top millennial entrepreneurs in the nation. The goal of the program is to develop both the founders and their businesses, giving them the greatest foundation for future success. Fellows benefit from mentoring, entrepreneurship retreats, a peer community, and volunteer opportunities through Future Founders programs.
The Fellowship is different from a typical accelerator. It is an intensive program that develops both the founders and their businesses, giving them time to grow over a 12-month period. Future Founders does not take equity or charge for the program thanks to the generous support of Motorola Solutions Foundation (organizational founding sponsor), Capital One, The Coleman Foundation, The John E. & Jeanne T. Hughes Foundation, Keywell Foundation, Accenture, EY, and Jack and Goldie Wolfe Miller Fund.
Of the 39 entrepreneurs who graduated from the first three Fellowship cohorts:
- 82% of the Fellows are still running businesses today
- 20 Fellows are working on their businesses full-time; 12 Fellows are working part-time
- 11 Fellows made their first business revenue while participating in the program
Two of our 2017 Fellowship companies were acquired during the program year:
- Omnipointment was acquired by Mimir
- Zcruit was acquired by Reigning Champs
“This data illustrates what we already know: our founders made extraordinary progress in 2017,” said Scott Issen, President & CEO, Future Founders. “We are excited to see how our founders continue to achieve significant business milestones and build sustainable companies beyond their Fellowship year.”
Future Founders is currently running its fourth Fellowship cohort. See all current and alumni Fellowship companies at https://futurefounders.com/about/companies/.
For more information or to nominate yourself or a collegiate entrepreneur for the Fellowship, visit https://futurefounders.com/programs/fellowship/ or contact Katie Sowa, Chief Operating Officer, at email@example.com.
To sponsor the Fellowship, contact Scott Issen at firstname.lastname@example.org.
Note: This data was compiled from a February 2018 study of Future Founders Fellowship companies.