Lemnos Labs is looking for entrepreneurs who are ready to change the world. You might be ready to graduate from college, stuck in a large engineering firm, or tinkering on something in your garage, but the common thread is that you’re building a hardware prototype that can change people’s lives.
We accept startups into our program year round and our program doesn’t have a fixed time duration. Startups work inside Lemnos on average for about a year, and the decision to “graduate” is based on the startup’s progress in terms of product readiness, having built a cohesive team, and having raised the capital for the next step in your voyage.
We initially invest up to $200k in our startups and prefer to be the first money invested in your company. Our typical investment is $100k for a 10% equity stake.
There is no archetype of whom we accept into our program, but we do look for:
- Technically minded founders
- Experience and expertise. The more you know about your target markets, the more likely you are to succeed. This knowledge can come from academia or real-world experience
- A duct-tape prototype. It doesn’t have to work well and it doesn’t have to be pretty, but we need to touch and see the potential in what you are building
- The ability to move to San Francisco and join us in the Lemnos Labs facility (which we lovingly call “The Forge”)
- A founding team that is legally eligible to work in the United States. We cannot provide visa assistance
- Pure, unbridled passion for what you are doing
Applicants often ask if there are product categories we are more interested in and others that we are not. The answer is no. We look for small, talented teams working on problems that have a wide impact. Embedding intelligence in mundane but prevalent objects can have as much impact as the revolutionary idea that disrupts a market segment.
When you are ready to submit an application, please send the following information to help our evaluation process:
- Product description and its enabling technologies
- Product differentiators. What makes your product unique and compelling?
- Target market segments and customers
- Go-to-market strategy
- Business model. How do you make money? Who do you uplift economically and who do you disrupt?
- Key competitors and adjacent companies
- Longer term vision for the product, market, and company
- Biographies of the founders, team, and advisors, highlighting relevant experience
- Budget plan for the next six to eighteen months
- Technical development plan with key milestones for the next six to eighteen months
- Relevant links, videos, that help us better understand your product, team, and vision
When you are ready to make the big leap from a duct-tape prototype to shipping high quality products, please send the above information to firstname.lastname@example.org. We will review your material quickly and respond with next steps.
We’re excited to see your application. Come join in the next hardware revolution!