If you're interested in becoming an advisor with KnowCap X, you need to be two things:
1) Committed to helping other founders and startups
2) Recognize that you are not the hero of their story
As Advisors your role is minimal in terms of a time commitment for Bootcamp. For each cohort that you want to be involved with, we ask that you prepare a 35-40 minute lesson based on a topic of your choosing, and brace for the 20-minute Q&A.
Residency is when the fun happens.
At the end of Bootcamp, Advisors will have the opportunity to select the top three startups that they are most interested in joining as a mentor on their Advisory Board.
Startups who are selected into Residency will agree to give each of their advisors 0.5% shares in their company. If they become a unicorn, or have a net positive exit, Advisors have positive upside with no zero requirement.
What's the catch? You will be held to an Advisory agreement that is based on your performance. If you do not live up to your commitment, your agreement will be invalidated.
Your responsibility as an Advisor is as follows:
Serve on the Advisory Board of the startup which will meet quarterly
Meet your startup for two one-hour sessions per month for the first quarter
Meet your startup for one one-hour session per month for the next three quarters
Meet your startup for one one-hour session per quarter for the final year
The total time commitment for advising a startup is 27 hours over two years.
We believe that giving back to the entrepreneurial community is a requirement of being founders ourselves. However, we also want to make sure that you have upside.
Top-notch advisors will be rewarded for their mentorship. If KnowCap X Advisors succeed in helping the founders-in-residence navigate the hectic waters of building a startup, they should be compensated. That's where the advisory shares come in.
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