The FBF Lab Initiative is a crowdfunding sprint geared towards helping Black entrepreneurs build a community of customers & champions who want to fund their businesses and help them on the journey toward success.
Entrepreneurs selected for this initiative will receive a $25,000 matching grant and participate in a fourteen-week virtual crowdfunding sprint starting April 2023 that focuses on preparing you to run a successful crowdfunding campaign.
This initiative is made possible through a founding donation from Louisville Metro United Way. The initial cohort of the program will consist of 15 companies, which will be eligible to receive up to $25,000 in matching crowdfunding grants, which will match dollar for dollar the amount raised by each company’s crowdfunding campaign. Additionally, the program will provide customized support and assistance to the founders in preparation for their crowdfunding campaigns.
What does FBF Lab Initiative Include?
THE PROGRAM
The program will cover the following topics which will result in succinct storytelling, business development and preparation for running a successful crowdfunding campaign.
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Core Fundamentals: value proposition, pitching, storytelling, creation of key fundraising & marketing materials, crowdfunding.
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Sales & Marketing: understanding and leveraging customer acquisition techniques and/or sales strategies.
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Fundraising: understanding and implementation of a successful crowdfunding campaign.
- Exposure and reach: you and your company will be promoted globally to promote your business to relevant markets and target audiences.
- Crowdfunding Campaign Support: we support you through the planning, creation, and execution of a successful crowdfunding campaign
Our goal is to have you well-positioned to crowdfund within 1 to 3 months after the program..
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Sein beruflicher Weg führte Thomas Mühlözer zu casinoshandyeinzahlung.at, wo er als leitender Redakteur maßgeblich an der Erstellung von informativen Inhalten, Bewertungen und Tipps für Online-Casino-Enthusiasten beteiligt ist. Sein Engagement gilt insbesondere den modernen Zahlungsmethoden, die das Spielerlebnis revolutionieren.
Mit einem scharfen Verständnis für die Bedürfnisse der Spieler in Österreich hat Thomas Mühlözer dazu beigetragen, casinoshandyeinzahlung.at zu einem führenden Portal für mobile Einzahlungsmethoden zu machen. Durch seine klaren Analysen, fundierten Bewertungen und tiefgreifenden Einblicke hat er sich den Ruf eines vertrauenswürdigen Experten in der Welt der Online-Casinos erworben.
PROGRAM PERKS
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A thriving community of entrepreneurs.
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Workshops, office hours, events, and a network of founders that you continue to have access to post-program.
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Gain direct feedback from leading innovators, entrepreneurs, mentors, & advisors.
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No cost, no equity taken.
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$25,000 non-dilutive matching grant.
Who is the program for?
FBF Lab is for promising founders with innovative products in the market, a clear value proposition, and ambition to become a leader in their category. The ideal company is dedicating full-time hours to growing its business and is eager to learn from leading entrepreneurs and industry experts.
In the selection process, we prioritize companies that have an MVP (minimum viable product) that has shown some level of customer engagement. While most companies chosen for the program will have a live version of their product or service, exceptions may be made for particularly promising products or founders that do not yet have a fully developed MVP.
The ideal profile for a cohort member is:
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You or your business is located in Louisville, Kentucky.
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Product in the market.
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Initial customer feedback.
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Raised less than $250k from any source
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Businesses legally incorporated in the US.
Winter 2023 Program Dates
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Applications Open: February 6, 2023
- Applications Close: Mar 6, 2023, 11:59 PM EST
- Program: April 2023 – September 2023.
Friends of FBF Lab
FAQS
Our program runs for 12 weeks, meeting once a week on Thursdays 4-6pm PST. All sessions will be hosted virtually (via Zoom).
WHERE DO I HAVE TO BE LOCATED TO BE ELIGIBLE TO APPLY?
Businesses legally incorporated in the United States or Puerto Rico are eligible to apply.
WHAT IS THE WEEKLY COMMITMENT?
Each week consists of 2 hours of facilitated sessions plus assignments, office hours, accountability groups, and occasional workshops. Like anything, you get out what you put in. This program is specifically designed to allow you to focus on running the day to day operations of your business, while layering in support where needed to help you meet key milestones.
HOW MUCH DOES IT COST TO PARTICIPATE?
The program is free for all accepted companies. Companies must go through an application process to be eligible for this program. To add, we do not take equity in companies. Selected participants will receive a $25,000 cash grant to help offset startup costs and serve as their “Friends & Family” round.
IS THE PROGRAM FOCUSED ON ANY THEMATIC VERTICALS?
We welcome applications from any field, sector, or industry. Knowledge and skills taught and reviewed during the program are applicable and transferable to ideas form all sectors & industries. While most businesses are tech enabled, you do not necessarily need to be a “tech company” to be considered. Our companies range across various types of products/services: SaaS, mobile apps, e-commerce, CPG, food, social enterprises, fashion, B2B software, health/wellness, AI, sports, beauty.
ARE THERE ANY MINIMUM METRICS OR BENCHMARKS NECESSARY TO QUALIFY FOR THE PROGRAM?
We do look for companies that have at least a minimal viable product (MVP) with some early signs of engagement. The majority of companies selected for the program are live with their product or service, but we have made exceptions for promising products/founders.
WHO ARE THE ADVISORS OF THE PROGRAM?
Mentors and advisors come from various fields and have many years experience. They will give you insights into multiple subjects including but not limited to lean business, problem/solution identification and validation, customer discovery, digital marketing, sales strategy, fundraising, pitching and much more.
CAN MY WHOLE TEAM PARTICIPATE IN THE PROGRAM?
As this program is focused on founders, only the founder and one additional co-founder are invited to participate in the weekly programming. If your team has more than two members, please contact us for more information.
WHAT SHOULD I PREPARE ON MY APPLICATION?
Below are some sections that we want to highlight in our application to help you prepare.
Essay Questions (Required)
1. One of our central tenets is to foster a thriving, inviting & inclusive community of entrepreneurs. How do you and your company engage with your community?
2. Why are you interested in the F&F program and how will it help you achieve your upcoming goals in the next 3-6 months?
3. How will you use $25,000 to take your company to the next level?
4. What is your long-term vision (i.e. 5-10 years) for you, your team and this company?
Required Video Component
In 2 – 4 minutes total, please address both of the following 2 prompts: 1. Introduce yourself and tell us about your company.
2. How does your lived experience serve as a competitive advantage for your company?
Contact us with any further questions and we’ll get back to you shortly!