The path from scientist to founder is well-trodden, but that doesn't mean it's easy. Because of these pitfalls, several programs have emerged over the past decade to smooth the path for tech founders.
Now, two prominent programs, Activate and The Engine Accelerator, have decided that they can offer even greater benefits to founders by teaming up.
“The closer we get, the more work we can do together, the more input we can provide into each other’s programs, and ultimately increase throughput from these archetype founders to entrepreneurs.” ” said Emily Knight, CEO of The Engine. Accelerator told TechCrunch.
The two programs are complementary in many ways. Engine works with scientists and engineers who are just beginning to explore the commercialization of their research, thus establishing themselves as “protofounders.” We start stepping in when founders have further refined their ideas and offer them a two-year fellowship to get them ready for funding.
A significant number of protofounders who completed the recent Blueprint program run by The Engine ended up being awarded the Activate Fellowship. “This is not a universal truth, but what we are seeing is that Blueprint participants are ready for Activate,” Activate CEO Cyrus Wadia told TechCrunch . “My team was like, can we get more of that?”
This partnership is still in its early stages. There is no exchange of funds, and the two companies are not at the stage of considering a merger. “It's too early to talk about that,” Knight said.
For now, they are exchanging curriculum notes and considering where gaps can be filled. While the plan is to keep the application and admissions processes separate for now, it's possible that something like a university “common app” will be developed for founders who find both programs useful.
Ultimately, both Knight and Wadia said the partnership is an attempt to get more tech founders up and running quickly.
“We have normalized a pace that is too slow, especially when talking about climate,” Wadia said. “If we have the opportunity to move scientists down this path faster and be more successful, it is well worth the time and investment.”