What Is LeapYear?

LeapYear is a bet

A bet that if young people go build for 1 year, great things will happen

We operate as a mission-driven seed fund (or first-believer fund), challenging builders to build for 1 year and we invest in them to get started. We look for ambitious people, ready to do the best work of their lives

We are open to all but primarily look for student teams, early in their ideas

We have no required programming but we do try to support teams on LeapYear with funding, network, and feedback

WHAT STAGE DO YOU INVEST AT?

Day 1. That’s why we are willing to back teams still in school

HOW DOES IT WORK?

Teams apply. We fund a few. They build. We try to help

Is This A startup Accelerator?

No. We aren’t trying to “accelerate startups in weeks”. We have no required programming. We do batch demo nights + offer support when you want it

LeapYear is a project to empower builders. We want you to build, not listen to lectures. The internet has enough info out there

LeapYear is a 1-year commit, not 3 months. Startups are hard. Many teams adapt or pivot. We back builders and challenge them to build something great over 1 year

IS IT ALL VIRTUAL?

Yes. We like meeting in person when we can but LeapYear is remote

How Can We Apply?

Apply Online. We fund new teams 4x/year (Fall, Winter, Spring, Summer)

Is It REally 1 Full Year?

Teams need to commit to building for 1 year. Great things take time. Our support is a two-way street though. If your team is scaling & raising more capital, you may start to need us less. So we flex with progress

WHAT HAPPENS AFTER 1 YEAR?

Ideally, your work is scaling. Maybe it doesn’t but you learn a lot

How Is This different Than Existing Options?

We don’t make you move across the country

If you are still in school, we don’t make you drop out

We are a selective community, we look for quality over quantity. So we only accept a few teams a year

We think the advantage of staying small is we can build an intimate community of top builders

Why don’t You Make Students Drop Out?

We view dropping out as an output. It should come only after you have built the conviction that your work has the opportunity to accelerate

We realize that conviction doesn’t come overnight. It starts as an idea and grows. So we aim to invest early & help teams get to conviction

We also know that most smart students have tons of free time, often more than most working adults. We trust that if you are committed, you will find the time to make it great. So we will fund you

Lastly, we realize dropping out is complicated. You may be an international student, you may be a 1st generation college student, or you may be a senior with a few more credits to graduation

DO I NEED TO STILL BE IN SCHOOL?

No. We will review all applications. You could be a high schooler, college dropout, recent grad, grad student, PHD, or something else

How Does The Investment Work?

We invest $40k for 2% equity via a post-money SAFE. On occasion, we may flex the offer depending on how far along a team is. We think this is enough for a founding team to get started and build to the next stage, either generating cash to re-invest in growth or raising more capital to scale

We’ve Already Taken Funding. Can We Still Apply?

Yes. If it works, we can solve details

Will You Really Fund Just A Team With an Idea?

Yes

What If OUr TEAM HAS Been Working On Our Idea For a While?

If you think LeapYear would still be valuable to you, yes apply

We love founders deep in their ideas. It tells us they are determined

Are Solo Founders Eligible?

Yes but we strongly encourage having co-founders

What If We HAve 2 Ideas? How Should We Apply?

You can apply twice with different ideas

Are We A Non-For-Profit?

No. We are a for-profit VC fund. We believe this provides the best long-term incentives to achieve our vision

If We Get More Funding While On LeapYear, Can We Take It?

Of course. We support whatever you think helps you win

What If We Get Into Other Great Programs (e.g. YC) on LeapYear?

LY only takes 2% equity and has no required programming. We do this to give founders the ultimate flexibility to pursue different paths for growth, whether that is an accelerator or going straight to raising pre-seed funding

So if you are in LY and get into YC or Neo, you can definitely go. Just keep building and talking to customers!