Want to launch a startup? Free virtual program here to help Modesto-area residents
Modesto and Central Valley entrepreneurs will gain a new opportunity to develop their startups through a free, 14-week course hosted through UC Merced’s Venture Lab in partnership with the Founder Institute.
The course, which will be offered virtually once a week, aims to accept around 20 local “founders” with ideas for new startup businesses or existing ventures they’re looking to expand, said Rachel Sheppard, Founder Institute’s global marketing manager. During the program’s run, participants will participate in seminars, meet mentors from various industries and be able to pitch and refine their ideas to stakeholders.
The program is designed to attract local entrepreneurs from the Central Valley and help them launch and grow their companies, Sheppard said. Applications are due in September, with an anticipated start date of Sept. 29.
The idea for the program came about when Sheppard met Venture Lab director Peter Schuerman at an entrepreneurship conference and the two got to talking about Modesto-area opportunities for training and support. Sheppard’s organization, the Palo Alto-based Founder Institute, runs similar programs in over 180 cities throughout over 70 countries, including the Silicon Valley.
The two wanted to bring a similar program to the Modesto area, but with one key difference. Because the Founder Institute has partnered with UC Merced’s Venture Lab, the university’s startup incubator, participants can participate in the program for free.
The goal of the program, Sheppard and Schuerman said, is for entrepreneurs to make improvements to an existing business or launch a new venture altogether.
“What we want is to accelerate what they’re already working on or help them validate an idea and then accelerate it,” Sheppard said.
UC Merced program brought to Modesto area
Schuerman said he and Sheppard wanted to bring the program to the Modesto area to capitalize on the region’s “entrepreneurial spirit” in and connect with established local mentors and those just starting out. Sheppard said she sees a lot of innovation in the region in the agricultural and technological sectors, and that the Central Valley’s affordability compared to other areas makes it a great place to start a business.
“(Founder Institute is) building a network of mentors, leveraging the folks that we’ve already become acquainted with,” Schuerman said. “They’re reaching out to entrepreneurs in the program or in the region to see who this program could be a good fit for. The idea is really to take them from zero to 60 as fast as possible.”
Programs at the Venture Lab are typically held at one of its physical locations – including one in Modesto – Schuerman said, but the pandemic has made that impossible. The course will instead be offered virtually, which he said will allow for greater accessibility to those who might not have been able to make it to weekly meetings at the space.
The Founder Institute has been running all its programs virtually since March, and Sheppard said the “silver lining” of running the program this way is that they can support more founders throughout the whole Valley and make Modesto a hub, even if participants are in Stockton or Tracy.
Candidates for the program must either come with a solid idea that will get tested throughout the 14 weeks, or an existing business they want to improve upon. Throughout the course, they can pitch their companies and get specific feedback from mentors across a variety of sectors instead of trying to start a business through trial and error.
Schuerman said this step-by-step approach and consistent feedback are crucial to a new startup’s success, and can lead to a founder’s long-term relationship with the program.
In addition to Sheppard and Schuerman, three local leaders are also supporting the launch of the program in Modesto. Among them is Nancy Salmeron, the founder of “Believe. Change. Become,” a local coaching and consulting organization. Salmeron said she was approached by Sheppard to be a part of the program, and shared its mission to support founders in building a “business that matters.”
Founder Institute holding informational webinars
Salmeron and the other local leaders develop programming for the course, and will act as discussion facilitators with the mentors and presenters during the weekly sessions. In the leadup to the launch, the Founder Institute has held informational webinars to get the word out, in addition to social media outreach.
Ultimately, Salmeron said she hopes the program finds local entrepreneurs with a passion for their business and leaves them with a concrete plan.
Schuerman said setting the program in the Modesto area was a deliberate choice, and that the region has a “really interesting mix of people who are really aspiring to create value for their communities and their families.”
“So many of the entrepreneurs are, right from the beginning, trying to figure out how they can give back to their community,” he said. “That’s just a wonderful thing to experience.”
Applications for the program can be accessed through the Founder Institute’s website. The priority application deadline is Sept. 6. The regular deadline is Sept. 20, with a program start date of Sept. 29.
This story was produced with financial support from the Stanislaus Community Foundation, along with the GroundTruth Project’s Report for America initiative. The Modesto Bee maintains full editorial control of this work.
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This story was originally published August 19, 2020 at 4:00 AM.
