The entrepreneur first application process is one route founders can consider while planning how to finance a startup. At AI Perks, we looked at Entrepreneur First and chose to raise through Round Funded, using direct investor outreach instead.
What does the entrepreneur first application involve?
Entrepreneur First describes a program with two 12-week stages: FORM and LAUNCH. FORM is offered on a rolling three-month basis in San Francisco, New York, London, Paris, and Bangalore. Its cohorts are intended for people ready to start a company, and applicants do not need to arrive with a cofounder or an existing team.
The program’s stated purpose for FORM includes finding a cofounder, developing an idea, and building with people who have relevant skills. Participants complete FORM before entering LAUNCH, which typically involves relocating to San Francisco. Those requirements may matter to founders weighing whether a structured program and its location expectations fit their plans.
Entrepreneur First also describes a U.S. funding fellowship application. For founders who are still exploring what to build, it says the U.S. offer includes an equity-free $10,000 grant and three months of housing. Near the end of the program, teams pitch to the Investment Committee for potential funding of up to $250,000 per team.
How do Entrepreneur First funding terms vary by location?
The U.S. pathway has specific terms. Entrepreneur First says $125,000 is offered through a post-money SAFE in exchange for 8% of the company. It also describes an optional additional $125,000 uncapped MFN SAFE from Entrepreneur First and its partner, Transpose Platform.
That additional investment is conditional on relocating to San Francisco and incorporating as a Delaware C-corporation. Entrepreneur First describes the potential total as $125,000 from EF, with an opportunity to receive a further $125,000 from Transpose Platform. The extra investment is optional, not automatic.
The program also states that if a founder does not form a company, or the Investment Committee does not invest, Entrepreneur First takes no equity and the founder does not repay the grant.
London has different terms. According to Entrepreneur First’s London FAQ, participants receive a £6,000 Talent Investment after signing an offer to join. The money can go toward living or company costs during FORM. The grant is subject to required KYC screenings and, where relevant, securing the appropriate visa. Entrepreneur First says its Investment Committee decides whether to invest at the end of FORM’s first 12 weeks.
These details are specific to the described pathways and locations. Founders should check the terms relevant to their application rather than assume that the same funding applies to every participant.
Can you fundraise directly while applying to Entrepreneur First?
Applying to a program and approaching investors are distinct activities. Entrepreneur First says that after participants build product traction, its investment team prepares them to raise a Seed round through weekly office-hour check-ins. Direct fundraising, meanwhile, involves deciding which investors to contact and managing those conversations.
We think founders can consider program applications and direct outreach at the same time. A founder can explore whether a program fits without treating an application as a substitute for investor conversations. Likewise, contacting investors does not prevent a founder from applying to a program.
At AI Perks, we considered Entrepreneur First but raised our round through Round Funded. We wanted a direct fundraising workflow with an investor database, email drafting, a shared workspace, a Data Room, and tracking links. That was our choice; founders can compare the program’s terms and structure with their own fundraising needs.
What is the difference between Entrepreneur First and Round Funded?
Entrepreneur First describes a cohort-based program with FORM and LAUNCH, and funding terms that depend on location and pathway. Round Funded helps founders find investors, send pitches, and track replies.
Rather than joining a program, founders using Round Funded can search 60,000+ active VCs, angels, family offices, and accelerators by stage, industry, geography, and check size. Investors are filtered to recent activity, with a check in roughly the last six months, and emails are verified.
We chose Round Funded because its clean investor database, AI agent for writing emails, convenient interface, teammate workspace, Data Room, and tracking links suited our direct fundraising approach. Its AI drafts personalized outreach emails and follow-ups. Outreach goes from the founder’s own Gmail, so replies arrive in that inbox and the email thread belongs to the founder.
The Data Room lets founders put their deck, traction, team, and ask behind one link. Building and sharing it is free on every plan, while per-investor tracked links and engagement analytics are included with Round+. Founders can also invite teammates into their workspace.
Entrepreneur First’s described route involves program participation and location-specific funding terms; Round Funded supports direct investor research and outreach. We chose Round Funded for our raise. Submit your startup on Round Funded to get matched with investors.
What should founders compare before choosing a route?
Before deciding, consider what you want from the fundraising process and what commitments each path involves.
- Program structure: Entrepreneur First describes two 12-week stages, with FORM completed before LAUNCH.
- Location: FORM is available in five named cities, and LAUNCH typically involves moving to San Francisco.
- Funding terms: The U.S. and London pathways have different stated terms, conditions, and funding amounts.
- Direct outreach: Round Funded lets founders search investors and organize outreach in a pipeline.
- Team workflow: Round Funded supports invited teammates, a shared Data Room, and, with Round+, per-investor tracking links and engagement analytics.
These are different approaches, not interchangeable offers. Founders can assess the program’s requirements alongside their preferences for location, equity terms, and direct investor outreach. Round Funded’s apply page lets founders get matched with active investors.
How Round Funded helps founders raise directly
- Submit your startup on Round Funded to start the investor-matching process.
- Search investors by stage, industry, geography, and check size.
- Use the AI to draft personalized emails and follow-ups for investors.
- Send outreach from your own Gmail and organize investors, fundraising stages, and next steps in the pipeline.
- Invite teammates into your workspace and share a Data Room; Round+ also includes per-investor tracking links and engagement analytics.
Frequently Asked Questions
Do applicants need a cofounder before applying to Entrepreneur First?
No. Entrepreneur First says applicants do not need a cofounder or team in place. FORM is described as a stage where participants can find a cofounder and work on an idea.
How long are the Entrepreneur First stages?
Entrepreneur First describes FORM and LAUNCH as two 12-week stages. Participants finish FORM before beginning LAUNCH.
What does the U.S. Entrepreneur First pathway offer?
Entrepreneur First describes an equity-free $10,000 grant and three months of housing for founders still exploring what to build. It also describes $125,000 through a post-money SAFE for 8% of the company, with an optional additional $125,000 uncapped MFN SAFE subject to relocation to San Francisco and incorporation as a Delaware C-corporation.
Can founders apply and contact investors at the same time?
Yes. A program application and direct investor outreach are separate activities. Founders can consider an application while continuing to approach investors.
What is the London Talent Investment?
Entrepreneur First’s London FAQ describes a £6,000 Talent Investment after a participant signs an offer to join. It can be used for living or company costs during FORM, subject to required KYC screenings and, where applicable, obtaining the appropriate visa.