Is This Salaried?
Yes, $100k
What Is The Application Process?
Apply, pitch, interview, decision. We review your application, invite select candidates for a video pitch, then schedule a final interview. Expect to hear back as soon as possible.
What's The Equity?
We take all the risk up front — salaries, tech costs, legal fees — through every iteration of your residency. You spin out when you feel like you have enough traction / product-market fit for us to put millions of dollars into making sure you succeed (we intentionally don't cap this). At that point you'll have 10%, we'll have 90%. Your valuation is effectively $0 — because the only valuation that really matters is an exit. We ask for our initial investment back, and then between $0 and $1B in valuation (as defined by a third party/ exit), your ownership grows to 51%. Meaning: we at PEAK6 dilute ourselves down so you make more at exit than we do. Compare that to residencies giving founders 20–30% at inception (which gets diluted further), or most VC-backed founders owning 15–20% at exit. Our risk is higher at the beginning — but as your business grows, we want to make sure you're always incentivized to build something real.
Do I Need Fintech Experience?
No, but you have to be excited to build in fintech.
How Do You Define Fintech?
Anything that involves money movement and management.
Do I Need To Be In Austin?
Yes.
Do You Sponsor Visas?
Yes, we can sponsor visas.
How Long Is The Residency?
12 months.
Do I Need To Be Technical?
No, we have AI engineers in house who will help you build out initial prototypes with the option to spin out with them as your CTOs if you hit it off. We need business owners to join us.
