Two years ago, we started Character, a new seed fund supporting founders with capital and sprints. Since then, we have invested in more than 20 startups and worked hand-in-hand with the founders, using our Sprint method to help them build the right product for the right people.
Now we’re expanding, with a new program helping pre-seed founders accelerate progress toward product-market fit. If you’re just getting started, working on something new, we think you should apply for Character Labs today.
⚡️ Applications are due February 19 for pre-seed founders to join Character Labs ⚡️
The next edition of Character Labs (starting March 30) is optimized for AI startups. Major technology shifts create unique challenges for product and marketing — and we can help you solve them in Character Labs. Learn more about our AI focus ↓
Character Labs is designed for pre-seed startup founders who have identified an opportunity or market, but have not found product-market fit.
That could mean you have an early product in the market but it’s not quite working, or that you haven’t shipped your v1 yet.
Either way, you know how important it is to build the right product for the right people, and you love the idea of a focused effort to figure it out.
The next edition of Character Labs is optimized for AI startups. That doesn't mean you shouldn't apply if you're not 100% focused on artificial intelligence; it just means we've made a few tweaks to the program to tailor it for founders working on AI-centric products.
If you’re not sure whether Character Labs is a good fit — apply! (Please note that we only invest in software products and software-enabled services.)
Magical things are possible with artificial intelligence, but it can be difficult to build trust and understanding with customers who don’t understand how that magic works. This is especially true when advanced AI reaches beyond the realms of research, startups, and tech optimism and into the real world.
We’ve seen these challenges firsthand, as investors and designers in healthcare, personal finance, manufacturing, and consumer apps, and more— where the amazing power of AI can be overshadowed by questions, doubts, or simple confusion.
We have led Design Sprints for successful AI products since 2009, when Jake designed Gmail’s Priority Inbox. We worked with AI teams from Flatiron Health, Digit, Orbital Insight, Phaidra, and more. Our portfolio includes startups founded by AI engineers from Google DeepMind, Microsoft, and Amazon. And we look forward to adding you to the mix!
We know how important it is to de-risk the product and go-to-market strategy for new AI advances so the technology can have its greatest possible impact on the world. In the words of Phaidra co-founder Katie Hoffman: “It doesn’t matter how good the technology is if our customers don’t understand it or trust it.”
We think it’s the perfect time for a program that helps AI founders bring their work closer to the humans they are building it for.
Plus, we’re nerds at heart, and just love being part of what’s next in technology 🤓
Technically no, but ideally yes.
Character Labs is not an incubator. Our goal is to support and empower you and your team to accelerate progress toward product-market fit — not replace or stand in for your team.
We may accept solo founders but have a strong preference for teams.
Character Labs is also a great opportunity to build your team. You can use the four weeks to test out working with potential co-founders or teammates.
We recommend teams of 2–4, including people who can rapidly build scrappy prototypes and are comfortable talking to customers.
Yes! Character Labs is 100% remote, so we welcome teams who live anywhere!
However, please keep in mind that all synchronous sessions will take place on USA time, roughly 10am to 4pm CDT (that's UTC–5) on most days of the program. (See below for details.)
Also, at this time we are only able to invest in companies incorporated in the USA.
Applications are due at 11:59pm Central Time on February 19, 2023.
During the week of February 20, we will review your application and get in touch to schedule an interview for the week of February 27.
If you’re selected for Character Labs, you’ll find out the week of March 6.
The program begins on Thursday, March 30 and runs for approximately four weeks. (See below for more details.)
Character Labs is 100% remote. We meet on Zoom, Miro, and Slack.
March 30–31: Program introduction and Foundation Sprint to build clarity on target customers, market positioning, and the why behind your work.
April 3–7: First Design Sprint. Build a rapid prototype and test with target customers.
April 10–14: Second Design Sprint. Iterate on your prototype from the first sprint, or start over, and test again with a fresh batch of target customers.
April 17–20: Third Design Sprint. Continue iterating, or start over, and test with a fresh batch of target customers.
April 21: Build your “risk roadmap,” a detailed scorecard of what you’ve de-risked and which important risks are still open. Make a plan for your next steps and celebrate the end of Character Labs with your fellow founders!
By the end of your four weeks in Character Labs, we hope you’ll have enough conviction and confidence to build your product and bring it to market. (Or not! If you reach a dead end, it’s better to find out quickly than after you’ve launched.)
We also hope you’ll continue to use the Sprint method. You may not need the intensity of the four-week Character Labs, but we know the process is valuable any time you’re starting a new project or facing a high-stakes decision.
Remember, you’ll be a full member of the Character portfolio and have access to our network of founders, advisors, and coinvestors. We’ll work with you on fundraising, additional sprints, or whatever else you need to build on the momentum from Character Labs.
Character typically invests $500k–1M into the seed rounds of companies who have products in the market and growing customer adoption. We run bespoke sprints with our portfolio, spending a week or more working hand-in-hand with one company at a time.
With Character Labs, we invest $100k into pre-seed startups who have not yet found product-market fit. We run sprints with these teams as well, in a cohort format where five companies are working in parallel with direct support from our team.
Following the program, we may make larger investments in some of the participating companies. But the focus of Character Labs is product-market fit — we’ll help you get ready for customers, and ready to go raise money in the market, if that’s the right next step for your business.
We designed the program to complement other sources of capital or startup support. At only 3% equity, your dilution is minimal relative to the value you‘ll receive in the 4-week sprint program.
Previous Character Labs founders have raised a pre-seed round before joining the program. Others incorporated for Character Labs, and we were their first investors. Many have gone on to raise pre-seed or seed rounds within the months following the program. A few have also participated in specialized accelerator programs before or after Character Labs.
We’d love to hear from you anyway! Please get in touch via our website.