As someone deeply involved in talent acquisition at a venture studio, I can tell you that filling out a Founder-in-Residence (FIR) application isn’t just about answering questions – it's your first pitch to a venture capitalist. The evaluation starts the moment we read your application, and every detail matters. We’re assessing your potential as a founder who can navigate the complex journey of building something from the ground up. Your responses are a window into how you think, act, and execute as a future entrepreneur.
Here’s why putting your best foot forward in your FIR application is critical and how you can make sure you're giving yourself the best chance from the start.
Demonstrating a Founder’s Mindset from the First Question
When we review FIR applications, we’re looking for more than just technical skills or past achievements. We’re asking, “Does this person think like a founder?” Can they recognize opportunities, make decisions with limited information, and adapt when things don’t go as planned? That mindset should shine through in every response.
For example, when we ask about your past failures or challenges, we’re not looking for generic answers. We want to see how you approached those obstacles, and what you learned. Show us that you can bounce back and evolve, which are traits that define successful entrepreneurs. It's not just about what happened; it's about how you handled it and what you’d do differently next time. Transparency about past failures is critical, and VCs value honesty about what went wrong and, more importantly, how you've learned from those experiences. When addressing failures in your Founder-in-Residence application, don’t shy away from detailing why the failure occurred. Be clear about the decisions or factors that led to the setback and what you’ve done to ensure you won’t repeat the same mistakes in the future.
From my perspective: It's essential to provide a transparent explanation of past failures while also showing how you’ve reflected on those experiences. Your answers should offer a proactive, solution-oriented mindset – like you’re already thinking about how to solve big problems as a founder. Outline concrete steps you’ve taken to avoid similar pitfalls, demonstrating both accountability and growth. This transparency reflects a founder who can communicate, learn, adapt, and lead through challenges, which is an invaluable quality in any entrepreneur.
Passion and Vision Matter More Than You Think
VCs are not just investing in a great idea – they’re investing in YOU – the founder behind it! Read that again.
We want to see that you have a clear passion for the problem you want to solve and a vision for how you plan to solve it. This is where you can show that you're driven by more than just the idea of starting a company – you’re passionate about making a real impact.
When we ask about the industries you’re excited about, don’t just list them. Tell us why these industries matter to you. What problems do you see, and how do you believe your solution could change things? Your passion is contagious – it’s the energy that gets people excited to work with you, invest in you, and back your ideas.
From my perspective: Make it clear that you're not just filling out an application – you’re already thinking like a founder with a mission and vision that will drive your future startup.
Clear and Concise Communication Is Key
One thing I always stress when reviewing applications is that communication is everything. As a founder, you need to articulate your ideas clearly – whether it’s to a team member, an investor, or a customer. Your FIR application is no different. Long, rambling responses can signal that you might struggle to get to the point or organize your thoughts.
In the application, answer the questions directly, but with substance. Don’t write more than you need to – get to the heart of the matter and make each word count. This shows that you can communicate effectively, which is a crucial skill for any founder.
From my perspective: I’m looking for responses that are sharp, well-structured, and to the point. It’s your first chance to show you can pitch an idea or a story concisely.
Show Us Your Bias to Action
A huge part of being a successful entrepreneur is having a bias to action. We want to know that you’re someone who takes initiative and doesn’t wait for things to happen. In your FIR application, when we ask you about your past projects or challenges, we’re really asking: What did you do when faced with an obstacle?
Did you jump in, make decisions, and drive forward? Or did you hesitate, waiting for more information? We’re looking for founders who move quickly and decisively, especially in uncertain environments - who aren’t afraid to fail. So, when you talk about your experiences, focus on the actions you took and the outcomes you drove.
From my perspective: Your application should show that you're a doer – someone who takes charge, moves fast, and executes, even when the path isn’t clear – ambiguity tolerance!
Coachability Is a Key Differentiator
No founder has all the answers, and one of the things that gets us excited is seeing someone who’s coachable. We want to invest in people who are open to feedback and willing to adapt. If you’ve ever received mentorship or constructive criticism that helped you grow, now’s the time to share it.
Your ability to learn from others and grow is something we take seriously. The journey of a founder is filled with pivots, challenges, and teachable moments, so showing that you’re someone who can evolve based on feedback is crucial.
From my perspective: I’m looking for founders who aren’t stuck in their ways. Show us that you’re open to learning and improving along the way.
Aligning Your Experience with Venture-Backed Success
Not all experience is created equal. What we’re looking for in a FIR candidate is someone who understands what it means to operate in a high-growth, venture-backed environment. It’s not enough to be a strong individual contributor; you need to show that you understand the pressure, speed, and scalability that come with the territory.
When we ask about your background, highlight any experiences where you’ve worked in fast-paced, high-growth environments. Even if you haven’t worked directly in a venture-backed startup, focus on experiences that required you to think strategically, scale quickly, or operate in ambiguity.
From my perspective: I’m looking for founders who understand the unique challenges of venture-backed startups and have demonstrated the ability to navigate them.
Articulate the Problem You Want to Solve
One of the most important questions we ask in the application is about the problem you want to solve. VCs are looking for founders who can clearly identify a market gap and articulate why solving it matters. Don’t just say you’re interested in an industry – tell us what specific problem you’re passionate about solving and how you plan to tackle it. Be careful not to appear to be too tied to your solution idea.
This is your opportunity to show that you’re thinking strategically about the future. We want to see that you’ve done your research, thought deeply about the problem, and have a unique approach to solving it.
From my perspective: Your ability to clearly define the problem you want to solve is a big factor in our decision-making. Show us that you’re not just interested in being a founder – you’re ready to tackle a real problem with a thoughtful, actionable solution.
Conclusion
Your Founder-in-Residence application is more than just a job application – it’s your first chance to make an impression as a future founder. Every answer you give helps us evaluate your potential, so make sure each response reflects your passion, mindset, and readiness to take on the challenges of being a startup founder. The VC evaluation starts here, so put your best foot forward.
Your Founder-in-Residence application is your first pitch. Be transparent about past challenges, show how you’ve learned, and outline your path forward. Prove you have the mindset, passion, and vision to lead a successful venture. Start your founder journey today by applying here: https://jobs.lever.co/platform-stud
VC has also come a long way. When I started in the late 90’s there was a tremendous amount of capital chasing opportunity. It got to the point where… any candidate that walked in with a decent idea and had their pencil holder positioned in their shirt pocket just right would get a million dollars to see how things played out, until the dotcom implosion. The lack of bandwidth back then is what kept many ideas from escaping development to commercialization.
For example, I invested in a company called stream media, and eventually discovered that the limited bandwidth produced a shitty end product, and it was sold to a Canadian investor. A decade later, YouTube cornered the market on streaming services… so it taught me a lot about timing, infrastructure and market perception.
Let’s use your platform as an example… 25-years ago, my brethren on Wall Street had VC funding on lockdown. The early introduction of in-kind investments failed, however, over time the folks allocating some of their portfolio to high growth / high risk opportunity realized that they could own a bigger piece of the equity pie in start-up’s , simply by cutting out the middleman.
Although, it is not yet commonplace, in-kind investing is the future, because it provides more efficient product development and a pre-established infrastructure that enables the founder to wear less hats, and by cutting out the money changers on Wall Street, (which bake in the 10% and 3% non accountable for just for raising money)provides an opportunity to award the founders, early employees and investors with more equity.
This is the future of VC, and as more of us boomers retire and do not have occupational conflict, we will directly seek out better opportunities that suit our investment needs, because our kids, and in some cases our grandkids, have already taught us that the model works.
I’m not interested in a job, but I am going to complete the application, because I am always interested in learning about myself, and writing out your thoughts, even if only you are the end reader, also contributes to your personal endeavors.
I actually really enjoy this site, I have learned quite a bit already, and since you have a free self reflection application. Why not.
Keep up the good work, I checked on Dom”s pedigree, and I think we share the same vision for the future of the typical residential real estate transaction, and I strongly believe that he will help take Realty Genie to an exit at a growth multiple.
I will check in from time to time, and will also make myself available for real world product testing when you reach that milestone.
Congrats and Good luck gang!
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CEO | Founder | Managing Partner @ Platform Venture Studio
Thanks for sharing