Hannah Seligson reported on a new initiative to teach entrepreneurship:

• Founder Institute requires students to have incorporated their own business in order to graduate.
• The tuition is only $1,000 but the Institute takes a 3.5% stake in the company that is founded.
• The program is so tough that 60% of students fail to graduate.
• Of those that do, 42% have received external funding within the first six months of their businesses’ operation, while 10% have failed.
• Founder Institute has chapters in 14 countries and courses are altered to fit the local market. In Singapore, for example, there is a session on doing business in China.
• Overall the institute claims that it has helped to found more than 500 companies.

To read the testimonials of people who have been through the program, some of the mistakes they were making, the story of the man who founded the Institute, how it compares to getting an MBA, the ownership structure of the institute, what it means to take the program part-time, what you have to do to get admission, and what experts have to say, click here.

Source: The New York Times

Via: Marginal Revolution