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Launch House has grown tremendously in its two years of existence. What started as a group of friends who rented a house in Tulum to work on their startups remotely during COVID quickly turned into a Los Angeles-based accelerator program, with multiple in-person and digital programs charging members thousands of dollars a year to participate.
Last year, the collective – led by co-founders Michael Houck, Brett Goldstein and Jacob Peters – raised $3 million in a fundraising round focused on developing its Web3 and fintech division, and landed An additional $12 million in February for a metaverse and engineering-targeted expansion (the former is a virtual program, while the latter is a “Hack House” for engineers.)
On Tuesday, Launch House announced the formation of three other new virtual incubators: “Venture House” will be for investors, “Boost House” for technology marketers, and “Design House” for product designers. When I told Goldstein about the news, he quickly compared the accelerator to a university.
Although Launch House is clearly not an accredited university, Goldstein said the houses are part of building a larger ecosystem that includes month-long courses. Each person who applies for the in-person acceleration programs will be required to pay an annual fee that starts at $3,000 per year and can go up to $5,500 – which, while not cheap, is much lower the amount of money the students are shelling out. going out to attend a real university. (According to US News and World Report, one-year tuition at USC in the past academic year cost students more than $60,000, not including room and board.)
“Launch House is almost more valuable than college because you’re talking to people who actually have experience building a business and understand the ins and outs,” Peter Arian, Founder and CEO of Juna , who has lived through not one, but two Launch House residencies. told me earlier this year.
Launch House residencies average 25 founders per program — ambitious entrepreneurs who, for a month, live in homes like a Beverly Hills mansion once rented by Paris Hilton. While its digital programs lack that kind of glamour, they can accommodate up to 100 people per program, a much larger capacity that boosts Launch House’s revenue model tremendously.
Goldstein didn’t reveal the cost of the new digital residencies, offering only that they will be cheaper than Launch House’s in-person programs. The fee will give members access to fundraising and hiring assistance, members-only events, retreats, NFT drops and more.
Whether it’s all worth it is less clear. For some founders like Arian, this may very well be the case, while others may find that there is no quick launch pad to start-up success. —Decerry Donato