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EFSG1 Day 1

Posted: 26 September 2016

It’s the first day of EF! This is the first time everyone (almost everyone) will be coming together as a cohort. The new office is really cool.

We have a long day of activities ahead. We started with Matt giving us an introduction of the history of EF and how it was founded. The vision for EF; the values that EF holds; EF as a community; stuff like that. I really liked the idea of EF as a community.

Following that, it was cohort introductions once again. It’s for you to look out for who you want to work with. I think forming a team is about who you think you can work well with (with some overlap of skills and distinct differences), and then going with it. We’ve been hearing this a lot from previous TGEFs, just try it out and if it doesn’t work out, EF provides a safe environment for you to try a startup with another founder. I decided to work with Magzhan.

Next, it was a “Partners Panel”, where the 3 partners were on stage, with Anne Marie as the moderator. The stuff they talked about was mostly repeated as they did come for the TGEFs. The only new point was work-life balance, but I never really had an issue with that. Work is life and life is work as an entrepreneur. You can apply that mindset for yourself, but you definitely can’t do that for your future hires.

The fourth activity we had was an “Edge based Ideation”, presented by Matt. Some similar talk was presented during previous TGEFs but this is mostly new stuff. I’ll talk about this in a separate post because there’s quite a lot to fill.

The last activity we had was “What happens on EF”, presented by Alex. He talked about this week, followed by how’s it going to be in the next 6 months. He talked about Investment Committee (IC) at month 3 (and the metric you will be evaluated on of course). He also talked about Demo Day at month 6. An interesting point he talked about was what VCs look out for.

  1. Problem - Couuld this be big?
  2. Solution - Do you have a credible insight or product?
  3. Traction - Is there clear evidence of demand?
  4. Team - Can you execute what you’re trying to do?
  5. Market - How large is the opportunity?

These are important points to consider along the way. That’s about it for the day.

As I learn more things and write about them, I kinda realized (as with the previous post on Frameworks), that without writing these down, it’s impossible to remember everything. More importantly, just like how I refactor my code after writing huge chunks, I should also refactor my writing after many posts. You know, this could perhaps be compiled into a coherent post one day (which might end up being a book?). Sounds like fun!