Venture Lab FAQ

  1. What does the program involve?

    The Venture Lab is to prepare startups for their fundraising journey. 

    To participate you need more than an idea, you need a (beta) product-in-market.

  2. What benefits do I get?

    Startups receive:

    • Curated mentorship from a selection of over 70+ mentors
    • Weekly 1:1 time with a Managing Director
    • Access to a community of founders to receive support and curated content to help your business not only launch, but thrive.
    • Curated introductions to local investors

    We’ve designed the program to be:

    • 12 weeks long so that you have enough time to make meaningful progress on your business and prepare for financing.
    • Focused on your startups specific needs with targeted Managing Director time and lead mentorship.
  3. What does the program curriculum cover?

    Topics we cover:

    Customer Discovery

    • Elevator Pitch
    • Customer Personas
    • Pain Points
    • Pattern Identification

    Market Sizing

    • Competitor Analysis
    • Market Share Assessment
    • Top-Down Analysis
    • Bottoms-Up Analysis

    Go To Market

    • Customer Acquisition
    • Converting users

    Financial Modeling

    • Pricing strategy
    • Revenue forecasting
    • Key metrics
    • Pro Forma

    The Pitch

    • Talk track
    • Pitch Deck Structure
    • Story Arc
    • Investor Feedback

    Fundraising Strategy

    • Fundraising process
    • Peak Cash Need
    • Investor Types
    • Negotiation
  4. How is each session structured?

    We know you have a lot to juggle as a founder, so we maximize your time by tailoring the lab to your specific needs We do this three ways:

    1) Ensure you feel confident in all topics on the curriculum above

    2) Inject some of the best mentors in a 1:1 format each week to give you guided advice on a path forward, along with a weekly MD 1:1modeling

    3) Prepare your fundraising strategy which includes identifying target investors, reviewing your investor deck talk track, creating a fundraising timeline, receiving feedback from friendly investors, and more.

  5. Who are the mentors?

    Many of the speakers in the Moonlighter Lab are individual mentors for the Venture Lab. They have worked in tech companies and have ventured out to build some of Seattle’ most successful startups. The CEOs, builders, founders, and hustlers, who mentor in this program have been hand-picked and vetted to ensure you will get the most out of the program. 

    They are doing this because they love supporting founders and the startup community.  Many of the relationships you build with these mentors will last well past the timeframe of the program.

    Our mentors also represent some of Seattle’s best early stage investors, as either angel or institutional investors. 

    See the full list of mentors on our mentor page here.

  6. What's the duration?

    12 weeks, and includes:

    • MD 1:1s every week
    • Weekly Cohort Check-Ins
    • Weekly Program Content – the content is self-serve to accommodate founders working day jobs
    • Weekly mentor meetings
    • Weekly program deliverables

    We estimate you will need to dedicate 10 hours per week to the Lab.

  7. What are the program dates and times?

    Next Kick-off:

    Program Start: January 2022

    Program End: April 2022

    Applications Due: December 13th

  8. How often do you offer the Lab?

    Twice a year.

  9. How many people do you accept per cohort?

    Venture Out supports 4-10 highly focused founders that are ready to launch and grow their startups.

  10. Can I participate in this program if I live outside of Seattle?

    Yes! Although we are headquartered in Seattle, this virtual world we live in has transcended geographic borders. We’d love to see your application, wherever you live.

  11. How much does it cost?

    Founders in the program provide Venture Out with 4% equity in their company (common stock), that converts to preferred equity at the terms set by your next qualified financing. Our terms are standard, and founder friendly. We ask that we have the chance to participate in your next round of financing, should we choose to participate.

  12. I’m moonlighting. Should I tell my employer that we are participating in this program?

    We recommend seeking advice from an attorney on the best way to approach this and will work with each of you on a case-by-case basis. While we are not attorney’s and this should not be construed as legal advice, we follow the guideline to not use any company property for anything you are personally working on or build a competing product for what your team or larger organization is focused on, as this could be held against you later.  In the program, you will have access to our legal counsel, K&L Gates, for general questions. You will also have access to our partner, Gusto, for Q&A sessions on the incorporation process.

  13. Do I have to be a member of the VO community to participate?

    Yes. We encourage all applicants for the program to join the Venture Out community, no matter when you plan to start the program. The Venture Out community is a place for founders to come together, share their experiences, access startup resources, and network on a regular basis.

    Founders who have gotten the most out of the program are active members of the VO community.

  14. Is there a money back guarantee?

    Venture Out also offers our Money or Equity back Guarantee – if you don’t feel like we earned our money or 4% by the end of the program, you can have it back. We are in this to be your partner in building something great.

    We’ve never had a founder request this.

Venture Lab
Our mentors and program guide early-stage founders along the complicated steps of their fundraising journey.
Founder Network
Gain support on your biggest startup challenges while connecting with other founders.
Join us for a Q&A session with T.A. McCann, Managing Director at Pioneer Square Labs!