fresh.fund | A Guide for the Perplexed
We gathered some Q&A’s to make things a little clearer for those of you who found themselves getting confused :-)
- What is fresh.fund?
- Why do we do what we do?
We want to create new access points for Israeli students of all background into the local startup ecosystem, provide hands-on venture experience and professional training from the perspective of both the investor and the entrepreneur, and foster a culture of innovation and creativity.
- Why students?
We started the fund because we think university students and recent grads have the potential of making great entrepreneurs. These formative years are among the most ‘fertile’ in one’s life; a time when you can open your mind, acquire new skills, and build meaningful relationships. Indeed, students and recent grads are connected to innovation on the grassroots level; they’re surrounded by smart peers, professors, and potential co-founders; they’re early adopters by nature, and they are in a unique position to recognize social and consumer trends that may otherwise go unnoticed.
- What will I do as a fresh.fund student-investor?
A day in the life of a fresh.fund student investor includes: discovering new companies on campus and around Jerusalem; reviewing applications and conduct industry diligence to assess opportunities; meeting founders to discuss their ideas and businesses; listen to pitches, analyzing companies and make investment decisions; writing up reports on companies and initiatives in discussion-taking a stand and making a clear recommendation to the investment committee; manage fresh.fund’s marketing, branding, outreach, portfolio support and operations; developing new initiatives to encourage student entrepreneurship and strengthen the fresh.fund community on campus… and anything else you can think of that will advance fresh.fund and support the innovation and creativity cultures on campus and in the city.
- How many student-investors will sit on the fresh.fund investment committee?
The program is small and exclusive. We only have room for 15 students from across Jerusalem’s leading academic institutions.
- Do I need to be a ״computer guy״? What if I study economics, science or design?
We’re looking for smart and talented students from a variety of backgrounds: computer science, economics, accounting, finance, engineering, marketing, medicine, biology, philosophy, art, pharmacology, math, chemistry — all are welcome! Our goal is to create an interdisciplinary group of students, with diverse skills, and from different professional and cultural backgrounds.
- I’m a grad student- can I still apply?
Yes! Anyone enrolled in a full-time academic framework — undergrad, grad, and phd — is welcome to apply.
- Do I need to live in Jerusalem?
Yes. At this point, we’ll only be accepting students enrolled in academic institutions based in JLM. In rare cases we might accept a student from another city as long as s/he commits to attending all programming. But don’t hold your breath.
- Do I need prior experience in startups or investing to apply?
Not at all. While we will place some weight on previous experience and involvement in the startup world, prior experience is by no means a prerequisite for applying. Part of fresh.fund’s strength is it’s diverse group of students, and their fresh perspective. We can’t stress this point enough: if you’re hard working, passionate about innovation and technology, and excited to join the team- no matter your level of experience — we would love for you to apply!
- What kind of time commitment is expected of students on the fresh.fund investment committee?
Our expectation is that student investors will spend roughly 10 hrs/week running fresh.fund. It’s a serious commitment, but it’s also a ton of fun and an incredible learning opportunity.
- I’ve never done this before… will you provide any professional training?
Good question! ;) Students selected for the fresh.fund Investment Committee will undergo a two-month investor crash-course (a day long seminar on December 25th, and a weekly 3-hour trainig session) designed to equip you with the basic tools you’ll need to identify investment opportunities and evaluate early-stage companies and learn about the venture creation process from the point of view of the investors. Students on the committee will also be supported by Jerusalem’s leading investors (angels and VCs) who will serve as mentors and participate in committee meetings in an advisory capacity.
- Will fresh.fund cost me anything?
Of course not. All we expect is that you take the opportunity seriously, attend programming, and work hard to find and fund the coolest and most promising early stage startups in the city.
- Will you pay me?
Particiaption in fresh.fund is voluntary. However, as a member of fresh.fund, you will graduate with hands-on venture experience and be connected to a national network of talented entrepreneurs and investors. It’s a great jumping board for a career in investing or at a startup.
- So what’s in it for the students?
Are you Seriously asking that? The work experience, the insane connections you’ll make, the opportunity to play a key role in a real venture-capital fund, the privilege of working side by side with startups and watching the investments you made breath life into emerging companies and ideas… need we continue!? We’re pouring tons of resources into the program and building a hands-on training program that typically costs a small fortune, and we’re letting you invest real money! To be honest, we all wish we had a program like this while we were students…
- Key dates to put on the calendar?
We made a table of key dates which counts down the number of days left to the deadline. Check it out. Here are some of the dates linking to event pages and action items:
- Har Hazofim Info Session, 21/11/2016
- Givaat Ram Info Session, 22/11/2016
- Facebook Campus Event, 29/11/2016
- Azrieli College Info Session, 30/11/2016
- Nokturno Info Session, 30/11/2016
- Application Deadline, 4/12/2016
- Ignite Seminar, 25/12/2016
- Launch Event Stakeholders, 25/12/2016
- “First Day of School”, 29/12/2016
- Launch Event Students, 16/1/2017
- Will the program take place in English or in Hebrew?
Like it or not, the language used across the startup and investing world is English because of the international nature of the business. As such, all fresh.fund programming and communicaiton will take palce in English. סליחה آسف :|
- In what kind of companies will fresh.fund invest?
Fresh.fund will invest mainly in early stage tech ventures, but not exculsively. A diverse student investment committee allows us to be what is called in the business “industry agnostic.” In other words, we can invest in anything you choose!
- I have a startup. How do I apply to fresh.fund for funding?
We’ll write up another one of these Q&A docs for students who want to get their ideas and startups funded soon, but in the time being, feel free to apply by filling out this form. We look forward to hearing from you!