While many companies are facing challenges in this uncertain economic climate, some people believe that now is actually a perfect time to pursue your startup idea.
Venture Capital firm Pillar VC and biotech-focused accelerator Petri have teamed up to announce Breakout, a six-week program for people looking to turn their startup idea into a reality.
Pillar helped launch Petri last year with several accomplished entrepreneurs, and while Petri is a traditional startup accelerator, Breakout is a little different. The two organizations created Breakout to give aspiring entrepreneurs some insight into what it actually takes to start a company.
The program is completely virtual and will take place over the course of six weeks. Once a week, there will be an hour and a half session where the entire group meets and discusses a specific startup lesson. There will also be weekly peer group meetings where individuals meet in curated groups to talk about ideas or learn from each other. Throughout the program, there will also be optional workshops where participants will learn about a specific step on the road to starting a company — like how to develop a customer base — and will hear from successful CEOs and founders. At the end, participants will have one-on-one meetings with a session leader.
There’s no demo day or investor pitch at the end because the goal of this program isn’t necessarily to launch a startup; instead, it’s meant to help you figure out if launching a startup is right for you. You don’t need to have a startup idea going into the program, or even coming out of it. In fact, you may leave the program and realize that you don’t want to start a company.
“Breakout is for people wondering ‘Should I take this leap and launch my startup?’” Sarah Hodges, a partner at Pillar who is leading Breakout, told Built In.
The program is designed for anyone who is curious about starting a company, even if they are currently working somewhere else or a student. The program only requires about two hours a week so it’s a minimal time commitment, and it doesn’t cost any money. There’s also no pressure to sign contracts with investors or seek outside capital.
“We hope this opens the door to more people who wouldn’t normally consider entrepreneurship,” Hodges said.
Hodges said that the idea for Breakout was generated over the past few weeks. The folks involved with Pillar and Petri believe that innovation comes from addressing pain points, and there are plenty of those with businesses shut down and people quarantined. Breakout is meant to give people a chance to pursue their dreams of launching a startup and prove they don’t have to put their career goals on hold during this unprecedented time.
Applications for Breakout are due May 22, with the program kickoff on June 11.
