One of our key aims at Founders Factory is making the process of launching a startup more accessible. To do that, we mitigate the biggest risks for entrepreneurs from all backgrounds and give them the support they need to thrive and grow. We believe that by partnering with you, the world’s best entrepreneurs, we can build technology companies that solve our world’s biggest challenges. We’ve spent years perfecting a platform that shortcuts and de-risks building a business from scratch. We bring together bold ideas, exceptional entrepreneurs, capital, expert operational support, and the scale of our corporate partners, to turn bold ideas into back-able businesses.
To put it simply, our Venture Studio is a fast-track for entrepreneurs to go from idea to scale. Together we will 1) validate ideas, 2) build the MVP and 3) test, iterate and acquire first customers. And when we’re confident that we’ve proven the concept (typically after 6-months), we’ll help you accelerate your launch with an additional cash injection.
One of the newest concepts we are building in our studio is Project Lime.
? The Problem:
The shift to Decentralised Finance is gathering unstoppable momentum with the benefits of Blockchain starting to deliver on the promise of truly decentralised risk-sharing systems in retail and corporate markets. But things can still go wrong and insurance products that protect against these risk events are lagging behind. To fully unlock the potential of crypto and decentralised finance, a strong insurance ecosystem is needed to underwrite smart contract-linked risk.
? So what is Lime?
Lime unlocks DeFi insurance for the masses. Lime is a member-based insurance market where retail and institutional clients can transfer crypto-related risk to yield- seeking investors. Lime leverages DLT to develop true P2P insurance models where previous inefficiencies, such as a lack of solidarity between policyholders, are directly solved by trustless blockchains. Lime has two primary products. Lime Creator helps protocols, web 3 organisations and DAOs to insure their systems by opening a decentralised insurance pool. Lime Market is a platform where private and institutional investors can provide capital to on-chain insurance pools.
? The Vision:
The vision for Lime is to create the next generation of cyber insurance by building an automated De-Fi insurance market. Lime enables DeFi protocols, dApps and custodians to offer insurance options directly on their platform and provide simple and easy DeFi insurance for crypto investors. Lime combines the benefits of Peer-to-peer community led risk pooling, embedded insurance and automated parametric claims to protect risks for the next billion Crypto users.
? Unfair advantage:
Founders Factory is working closely with our corporate partner Aviva on Project Lime due to the huge potential to create a new category of insurance. Aviva will bring its actuarial expertise, regulatory experience and financial clout as unfair advantages to the venture ensuring Lime is future proofed for scale.
As our first founder, you will:
- Execute the successful build and launch of Lime
- Set a clear vision for the business (including product direction)
- Activate distribution partnerships and supercharge growth
- Have strong Data, Product and/or Engineering experience
- Have a passion for innovation in the insurance market
- Ideally have experience of working within Insurtech
- Have experience in a leadership capacity (you love challenges and solving complex problems)
- Be constantly experimenting with new technologies and tools to drive innovation and creativity
- Be brilliant at hiring and retaining a world class team beyond the founders
- Bring together industry partners to create sizeable unfair advantage
What you’ll get:
- In 6 months, we’ll help you validate, build and launch an MVP. You’ll be allocated a £50K budget to cover your salary
- Once we’ve launched your product, we’ll incorporate your venture as an independent company and invest £150K into your new business
- Hands-on operational support from a team of smart and passionate people across design, engineering, product, growth marketing, talent, and more
- Unparalleled access to our corporate partners and wider network (for life!)
- Office space, co-located with other companies and our team
- A unique opportunity to build a business that will scale
- We are committed to building a diverse culture and are eager to receive applications from all backgrounds. All applicants will receive consideration for employment without discrimination.