The startup studio model in Europe has been refined over the last 11 years. The company has contributed to the launch of more than 30 different startup.
The startup studio seems to be doing well, but eFounders is a bit different. eFounders is now a holding company for various startup studios.
eFounders has been more than just eFounders for a long time. eFounders has launched two new studios, one focused on the future of work and the other on web3 startups.
eFounders is one of the studios that will be run by Hexa. What is going on with eFounders right now?
eFounders co- founder Thibaud Elzire told me that he was going to stop writing for the professional networking site. The eFounders core team is going to work for Hexa now as he is not leaving.
There is a dedicated eFounders team with a head of studio and a core team of product people. eFounders has a new leader, Matthieu Vaxelaires.
A total of 3000 people have been hired by the companies. It isn't going to change its formula in the future. An idea is matched with a founding team.
The studio team helps to launch a product. The startup studio can focus on new projects after raising some funding.
When it comes to scaling, we maxed out. Elzire told me that it's a model that is handcrafted. The company wants to launch studios in new areas, such as climate, education and health.
It depends on the heads of studio that they meet and hire. The studios will be launched next year.
It is a crazy wager for us. A brand is being created from scratch. Elzire said that eFounders was outshining other studios and that's why we're doing that.
Team entrepreneurship is being democratized with the use of Hexa. The alternative to traditional entrepreneurship is offered by Elzire. It works better when you work with others.
That doesn't mean that the studios are launching new businesses for fun. Each startup is getting a significant stake from them.
We would like to launch more startup. We have to spend around 800,000 to start a company. We can either create a small fund or invest ourselves. The investors would end up on the table.
After raising a seed round, the startup studios attempt to keep a 30% stake in the company. Third-party investors would get 5% if Hexa lowered its stake to 25%.
Each startup studio would have their own stake divided between them. Elzire said that the head of the studio and their team would get 5 to 10%. They would still take a 30% stake. It would be divided between partners.
Elzire thinks that the deal might be unfair. The track record of eFounders speaks for itself, according to him. Entrepreneurs are more likely to create a unicorn if they have the help of eFounders. A smaller portion of a larger cake can be given to founders.
What is the exact location of Hexa? The number comes from the system. In computing programming, hexadecimals are used. The characters represent a sequence of four digits.
Elzire said it was the simplest expression of the human- machine interface. Designers use hexadecimal characters for color codes as well.
He thinks startup studios will work the same way. Some of them will succeed and others will not. Studios will live a long time. Elzire said that at some point they will run out of steam because the head of studio won't be around anymore. New startups that emerge from those studios will be judged on the quality of their work by us.
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