Economic Impact Report: Future Founders Fellows Achieve New Milestones
Future Founders, a non-profit organization that believes every youth can become an entrepreneur, today shared its 3rd Annual Fellowship Impact Report. This report details the tremendous economic impact achieved by its Fellowship cohorts of millennial entrepreneurs in 2016, 2017 and 2018:
- Created 317 jobs
- Generated $17.7 million in gross revenue
- Raised $12.4 million in outside capital
- 5 company acquisitions
2018 was a banner year for our Fellows:
- Created 131 full-time jobs and now employ 317 people total
- Generated $8.6 million in gross revenue
- Raised $9.1 million in capital, with four founders raising $1 million or more
- 2 company acquisitions
The Fellowship, now in its fifth year, is a prestigious year-long cohort that accelerates the development of the top 18 to 30-year-old 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. See all current and alumni Fellowship companies here.
The Fellowship is generously supported by Motorola Solutions Foundation (organizational founding sponsor), Capital One, The Coleman Foundation, The John E. & Jeanne T. Hughes Foundation, Keywell Foundation, EY, and Jack and Goldie Wolfe Miller Fund.
Of the 53 entrepreneurs who graduated from the first four Fellowship cohorts:
- 81% of the Fellows are still running businesses today
- 33 Fellows are working on their businesses full-time; 10 Fellows are working part-time
- 15 Fellows made their first business revenue while participating in the program
2018 included a number of successes for Fellowship companies:
- Two companies were acquired: Deliveree and Seed Slide
- Corvus Robotics graduated from Y Combinator (our first Fellow in Y Combinator)
- Aunt Flow graduated from Techstars NYC (our first Fellow in a Techstars accelerator)
“Year after year, our Fellows continue to grow as founders and gain significant traction with their businesses,” said Scott Issen, President & CEO, Future Founders. “This data illustrates how our model of mentorship from seasoned entrepreneurs, a strong peer community, and leadership development is resulting in sustainable companies that are creating jobs.”
To sponsor the Fellowship, contact Scott Issen at email@example.com.
Note: This data was compiled from a February 2019 study of Future Founders Fellowship companies.