Founder Institute introduces Investor Update resource for startups
Global pre-seed startup accelerator and support organization Founder Institute (FI) has released its Investor Update for startups.
According the accelerator, the ideal investor update is a short email from the CEO, with a simple subject that includes the company name and timeframe. It should be delivered in plain text and without graphics.
Said Founder Institute CEO Adeo Ressi, “For as long as I can remember, producing investor updates has been time consuming and difficult for entrepreneurs. Reading them is no better for investors. We needed a better way.”
Investor updates need to be sent out at least once every month for the first 24 to 36 months. The ideal frequency is either every two or every four weeks. Not sending updates or sending them inconsistently can make a startup appear unprofessional.
Founder Institute was founded in 2009 originally as TheFunded.com, before pivoting to become an accelerator for entrepreneurs. FI estimates that its alumni have created over 25,000 jobs and cumulatively have raised over $900 million in funding.
At the organization CEO Adeo Ressi and his colleagues train people to become entrepreneurs in a three-month course.
The accelerator was founded in Silicon Valley by Adeo Ressi and Jonathan Greechan with the mission to globalize Silicon Valley.