Founder Residency

We have announced the newest cohort of high-growth startups selected for the July cohort of the 2022 Founder Residency.

In this cohort, the Founder Residency is supporting first-time founders and founders from underrepresented groups with high-growth ideas that have the potential to fundamentally alter the way we live and work.

Working with The Roux Institute has provided us with the invaluable opportunity to meet and network with other founders, as well as stakeholders in the broader Portland tech community.

SUSANNA PHO

Co-Founder, Forerunner

An unparalleled quality of life

No longer do startup founders need to choose between a great place to work or a beautiful place to live.  Maine offers startups and talent the best of both worlds—a thriving innovation economy, with the oceans, mountains, world-class restaurants, and arts, all in your backyard. You can go from an afternoon of business meetings in Portland on a Friday, to a trip with the family to the beaches of Downeast Maine on a Saturday, and a hike in the mountains of western Maine on a Sunday.

An experience like no other

The Roux Institute is a hub of the Northeastern University global network located in Portland, Maine. It’s home to pre-eminent experts in the fields of AI, Computational Medicine, Engineering, and Data Visualization.

Through the Founder Residency, companies will have access to investors, joint research opportunities, and mentorship from our experts and researchers, as well as the ability to recruit from our vast talent network of students and graduates.


Program Details

The program is a year-long in-person Residency designed to support and fund underrepresented founders (BIPOC/Female/Veteran/Rural) at the earliest stages of their entrepreneurial journey.  The Residency co-locates Founders at our Portland campus and gives them a $25,000 living stipend, access to curated programming, mentorship, joint research opportunities, a network of expert advisors, and a peer community to accelerate their growth.  We give you the runway and support to get your venture from point A to point B 5x faster than you’d be able to get their yourself.

The Residency is divided into three phases throughout the year. Founders will have access to the Roux institute’s Portland campus for the entirety of the program.

Phase 1: Connections (2 Weeks)

During the first two weeks of the Residency, founders will:

  • Be introduced to potential mentors through our unique mentor-matching process
  • Assemble a team of three Lead Mentors for their venture
  • Go through team building exercises with other Residency founders
  • Get introduced to all the resources Northeastern, The Roux Institute, and the Founder Residency have to offer
  • Get acquainted with your new office and maker-space facilities

The time commitment for the first two weeks is approximately 15-20 hours per week. It’s intense but fast.

Phase 2: Intensive (10 Weeks)

During the first three months of the Residency, founders will spend time working with their mentors and attending workshops to continue iterating on their ventures. Founders can expect to:

  • Meet with their mentor team for 1-hour per week
  • Attend 2-3 hours of workshops per week
  • Meet with subject-matter experts for 1 hour per week
  • Other team building and program events

The time commitment for the 3-month intensive is approximately 6-8 hours per week.

Phase 3: Build and Scale (9 months)

During the last nine months of the Residency, founders will be working full-time on their ventures. They will meet with their mentor team bi-weekly or monthly and will be connected to resources as needed by our Portfolio Concierge. During this time, we work with companies to raise the appropriate type of outside capital so they can continue to grow their ventures. Often this is a seed equity round, but there are other options for financing as well.

The time commitment for the 9-month intensive is approximately 1-2 hours per week.

  • Mentorship

    Access to Northeastern University’s global network of startup advisors, founders and subject-matter experts to help turbo-charge venture growth

  • Living Stipend

    $25,000 in non-dilutive grant funding, to help you focus full-time on building your venture.

  • Peer Community

    Join the Roux Institute’s network of over 25 portfolio companies to help navigate common challenges in real-time.

  • Programming

    Curated workshops and Founder Stories from experts and successful CEOs on everything from product-market fit to fundraising, specifically designed to help first-time founders succeed

  • Space

    Work out of the Roux Institute’s cutting-edge, open-concept campus in downtown Portland, surrounded by some of the top researchers and experts in AI, Life Sciences, and Data Visualization

  • Partner Benefits

    Access to over $300,000 in credits and discounts from our partners at AWS, Google, Mixpanel and more.


Important Dates

Applications for the July 2022 Cohort open on April 1. Sign up for updates below to be notified when applications open.

July 2022 Cohort

  • Application Opens

    April 1, 2022

  • Application Closes

    April 30, 2022

  • Program Start Date

    July 11, 2022

  • Program End Date

    June 30, 2023


FAQs

What stage of ventures do you work with?

We work with Founders who are at the earliest stages of their entrepreneurial journey. The Founder Residency is for people with ideas or technology that have some level of market and/or technical validation. Our goal is to let you work full-time on your venture and give you the tools you need to accelerate your growth.

Do I need to live in Maine to apply?

No. We source applicants from across the globe through a competitive process. However, the Residency is located in Maine, and we expect founders in the program to be stationed at the Roux Institute’s Innovation Hub in Portland, ME for the duration of the program. We believe Maine is the best place in the world to start and run a business.

What type of business ideas do you support?

We support founders who have the desire and idea/technology to create a scalable technology-based business that will have a deep and meaningful impact on millions of people. We prefer ventures that utilize technology aligned with the Roux Institute’s core focus areas – Artificial Intelligence, Life Sciences, Data Visualization, and Advanced Manufacturing, but it is not a requirement.

Do I have to be a for-profit venture?

No. We support for-profit ventures, non-profit ventures, and everything in between. As long as you have a high-growth idea powered by technology that has the potential to fundamentally change the way we live and work, we are here to support you.

Can I apply with my co-founder?

Yes. We support early-stage founders, either as individuals or teams of up to three founders.


Get in Touch

Interested in the Roux Institute Founder Residency? Please complete this form and our team will contact you with more information.