What’s Hatching @ The Hatchery
Here’s a look at our plans for the upcoming cohort of The Hatchery, the student-venture incubator at Johns Hopkins University.
When we founded TCO, we knew we would eventually have to launch an incubator. Our plan was to sit down one semester, fastidiously prepare a curriculum with advice from multiple universities, get all of our ducklings in a row, and then launch it with a shebang. That’s not what happened.
Here’s the real story of The Hatchery: at the start of Fall 2017, we had 6 student teams independently reach out to TCO asking for guidance with their ventures. After meeting with them and realizing that much of the advice was duplicative, I knew we needed to formalize our process.
I walked into our executive meeting that night and declared:
“We need to launch an incubator.”
“What are we going to call it?”
“Um….The Hatchery?”
“How are we going to run it?”
“No f***ing clue.”
And that’s how The Hatchery was hatched. (Don’t tell me to kill it with the bird jokes, I love them. Really, TCO ought to stand for The Chicken Organization. Shoutout to our team members who came up with that).
That was a year ago. Since then we’ve had three cohorts, and have learned a ton of lessons from each one. Looking back at our first cohort, I almost want to apologize for how bad the program was. The second cohort went well enough, and holding a real summer cohort proved to be too logistically challenging to be beneficial.
When I think about all of the things we could have done better, I feel like I failed our previous cohort teams by not giving them the best program possible. But what matters is that we learned quite a few things in the process. And like good entrepreneurs, we took those lessons, reworked our approach, and are coming back with a bigger, better, busier Hatchery.
Below is a preview for what to expect for our Fall 2018 cohort, which I’m sure will be the best one yet.
0. The basics
We will take up to 15 student-run startups, small businesses, and nonprofits into the Fall 2018 cohort. We are looking for teams who are dedicated to solving an identified problem, and are willing to put in the work to find a solution that fits. We take no equity, and the program comes with no cost.
Applications open August 25th and close September 21st at 11:59pm.
There are three rules in The Hatchery: Work Hard, Show Up, Check Slack.
- Introducing Venture Workshops
While many things in entrepreneurship can’t be taught in a classroom, many others can. This is why we are incorporating a formal curriculum into The Hatchery, delivered through a series of six Venture Workshops occurring every two weeks during the semester. These workshops are open to the public.
The Venture Workshops are meant for eager students who can’t commit to a semester-long class; for those who want to dive deeper into entrepreneurial topics; and for those already running ventures who need to brush up on the basics while still working on their idea.
Here’s the lineup for the fall semester:
Early Venture Basics
Market Research
The Legal Side of Startups
Fundraising
Marketing & Branding
Out of the Nest: Next Steps
2. Two Types of Mentors
Each team in The Hatchery will receive two types of mentors: a Team Mentor, who is a student well-versed in the Hopkins and Baltimore innovation ecosystems and entrepreneurial basics, and a Professional Mentor, who has real-world experience in the ventures’ respective industries.
Our Professional Mentors are sourced from Baltimore community members, Johns Hopkins alumni, and Venture for America fellows. They make a world of difference for our Hatchery teams by providing guidance, advice, and industry knowledge that we can’t replicate with students alone. At the same time, our Team Mentors ensure that our Hatchery teams have someone they can turn to 24/7 for support.
3. Connections to Resources
There are abundant resources for student entrepreneurs at Johns Hopkins, but it can be hard to know where to look. We prepare all Hatchery teams to engage with the resources best suited to help grow their ventures, from FastForward U’s funding programs to the Center for Leadership Education’s Business Plan Competition.
For the teams who are ready to look at what’s available in Baltimore, we have partnerships with various resource providers to make the process straightforward and student-friendly. From angel investors, to manufacturing partners, to accelerators and coworking spaces, Hatchery teams have access to the myriad of resources that Baltimore has to offer.
Additionally, our expansive alumni network means that the teams have connections to resources around the country, from the heart of Silicon Valley to the streets of New York. We also have some exiting partnerships pending with top student-focused VC firms, but more on that later!
4. Increased Exposure
Previously, we held one event each semester where our cohort teams could show off what they have built, The Hatchery Pitch Competition and Demo Day. Previously, participating in these was limited to the teams in the cohort active during the semester of the event.
Now, all Hatchery teams from each academic year will have the chance to participate in both events. Additionally, a few teams will have the chance to showcase their work at Innov8MD alongside student entrepreneurs from 7 other local universities. All three events now come with the opportunity to win non-dilutive startup capital.
5. A Beautiful Space to Work
Opening in September 2018, FastForward Homewood is the first ever coworking space dedicated exclusively to student entrepreneurs at Johns Hopkins. Located right across from R.House, FFU Homewood comes complete with open desks, meeting rooms, a makerspace, a kitchen, lockers, and direct access to other students building out their ideas. It is truly the hub for innovation at Homewood.
6. Just A Pinch of Fun
Here’s an endearing story: during the Contrary Capital Summer Program, GP Eric Tarczynski made reservations for the cohort to go bowling. When it came time to leave, all of the teams decided they would rather stay and work.
While that story is inspiring, we want our student entrepreneurs to get to know each other outside of work. The Hatchery will continue to hold a variety of cohort events each semester: a Kick-Off, a mid-semester social event, and a graduation. I promise these will be better than eating pizza in Malone. (Sorry Spring 2018 Cohort!)
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This is a just brief overview of what The Hatchery will offer in Fall 2018. We are working tirelessly to bring even more opportunities, resources, and exposure to our campus — after all, these students truly are the next generation of great entrepreneurs.
I am beyond excited to meet the ventures that will make up our Fall 2018 Cohort. These students are the best and brightest that Johns Hopkins has to offer, and their passion is what drives us to get better each and every semester.
Here’s to Fall 2018, and to the brand new JHU Class of 2022. I can’t wait to see what you build.
If you are ready to apply to The Hatchery, do so here by September 21st. If you know someone who should apply, please send them this article. If you want to get involved with our incubator, contact us at hatchery@tcolabs.org
