🚚 Track and Expectation

Here is the basic guideline of our expectations for all program participants. This would be a reference for you to choose your OKRs in each quarter.


🎯Objective

To align the expectations between program participants and FoundX, we would like to clarify what is our basic expectations based on your program track.


🚚 Two Tracks

We accept very early-stage startups. There are various ways to achieve success, but we categorize two main paths:
  1. πŸ’» Service Track - less technical risk and high market risk
  2. πŸ§ͺ Hard Tech Track - high technical risk and less market risk, or high technical risk and high market risk
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πŸ’» 1. Service track
Most of web/Mobile app services, SaaS and some of "AI" startups would be categorized here.

πŸ§ͺ 2. Hard Tech Track
If product development itself is risky for technical reasons, your team would be hard tech. For example, robotics, hard programming (e.g. creating a new DB system), research-based AI, medical, and drug startups are categorized in this track.Β 
The team should have expertise related to the field.



πŸ₯‡ Expectation

The expectation below is just a guideline. However, we strongly recommend you will include these expectations in your OKRs. If you do not follow the expectation, please give us your reasonable explanations.

πŸ’₯ Changed the idea or the team? - Postponement Right 🚫
Even if you change the idea during the last quarter, you have to be on track. You have to find another idea or another team member during the last quarter. According to Paul Graham, this kind of pressure would lead you to a better idea.
However, If you do not meet the expectations in this quarter, or if you think you cannot meet the expectation of the next quarter, you can postpone your next step for 3 months 🚫 and you can be demoted to the Pre-Founders program πŸ“‰.



πŸ’»πŸ₯‡ Service Track Expectation


1️⃣ 1st quarter expectation
πŸ“Š Examples of Key Results
  • Less than 5% churn rate (= 95% retention rate)
πŸ“ Note for Q1
You can get the initial traction without any products such as creating a community and concierge MVP. If you can, you should do it. If you think you cannot validate your idea without product, we think you are not appropriate to our program.
⚠ If you cannot launch a product, it means you don't have readiness in the team or the idea for the Founders program (if you are ready, you can launch the first prototype in two weeks). We recommend you go back to Pre-Founders or Fellows.


2️⃣ 2nd quarter expectation
πŸ“Š Examples of Key Results
  • 5% weekly growth in revenue πŸ’° or the number of active users πŸ‘¦Β 
  • 30 man yen GTV in a week
πŸ“ Note for Q2
You might want to include product feature development in the OKRs, but because product features should contribute to some outcomes, please write only outcomes and exclude any development milestone in OKRs.


3️⃣ 3rd quarter expectation
  • Sustaining 5% weekly growth in revenue πŸ’° or the number of active users πŸ‘¦ as laggard indicators
  • Achieving fundraising for running your business in the next year
πŸ“Š Examples of Key Results


πŸ§ͺπŸ₯‡ Tech Track Expectation


1️⃣ 1st Quarter expectation
  • Validate your idea potentiality by getting the initial (strong) traction
  • Development progress
πŸ“Š Examples of Key Results
  • 1 LOI (letter of intent) more than 2,000,000 man yen
  • 50% performance improvement of your product (to get customers)
πŸ“ Note for Q1
You can get the initial traction without any products such as getting LOIs and other pre-commitments from customers


2️⃣ 2nd quarter expectation
πŸ“Š Examples of Key Results


3️⃣ 3rd quarter expectation
  • 5% weekly growth in revenue πŸ’° or the number of active users πŸ‘¦ as laggard indicators
  • Leading indicators based on your business model (see the nine business models)
  • Fundraising or getting grants
πŸ“Š Examples of Key Results