The value proposition to them is that they get a very high valuation ($1,000,000us and that there is no screening other than their commitment to the experiments - they are funded after the hypothesis is defined and
We are experimenting with a model that invests in problem solvers who do custdev and run experiments. We have funded 12 teams so far (updated December 2015).
Originally, teams had to do 100 interviews within 50 days to get $5,000 worth of investment - we are experimenting with ways of lowering that filter but DIRECTLY CORRELATING use of funds with quantifiable outcomes. 2015 was focused on custdev, proving risky assumptions like "can we actually bribe teams to do 100 interviews" and "will they do them correctly" and "will the teams actually learn anything from them IF they do them correctly" - the answers were YES, KINDA, SORTA.
The explicit problem we are solving for teams is the catch 22 funding problem for inexperienced founders at the very very early stage. The implicit problem we are trying to solve is the "true acceleration of experiential learning how to be an entrepreneur"
We are looking for about 10 mentors to help founders with custdev and early hypotheses testing. If you want to learn more about the #MILVALCHAL go here... www.leaningoutloud.blogspot.com - we make mentoring fun and we hardly ever rely on 1:1 sessions for the sake of 1:1 sessions.
Special shout out to mentors https://twitter.com/Seggitorial (Based in Istanbul, our true early adoptor for this program)
and look at the rest of this all star lineup! one hypothesis we had... validated :)