We’ve all been there.

Untethered. A free agent. Someone with the unbounded ability to write their own story.

Exciting, yes. Until the void of the unknown sets in. Unease follows.

A new race begins.

To find grounding again. To have an answer when friends ask: “What are you going to do?” To start the company, even without a concrete idea. To raise money. To reassure yourself that whatever you're doing is okay. It will be okay. You will be okay. To join the accelerator. The EIR program. The incubator.

Phew. The solid feel of a well-defined track is beneath your feet once again.

But in that moment, you forgo freedom and opt out of free agency.

Instead, you become a restricted agent once again. Surrounded by a cohort of other founders, you place yourself amidst the noise. Mimetic instincts kick in. Your ideas converge towards those around you, whether it’s the right direction or not. It’s how we end up with 100 new remote work apps or NFT marketplaces. When everyone attends the same talks from the same speakers at the same time, ideas start to blend into sameness. The goal inverts: you are no longer looking for the best idea but the one that can get “heat” the fastest.

Of course, there is another way.

Embrace the void. Use it as the magic tool that it is: to remove distractions and reveal the idea that is right for you as an individual. To see through the fog and understand clearly what others miss. To build something only you can.

This moment — your moment of free agency — is your chance to call your shot.

Don’t throw it away.

What is Free Agency?

Free Agency is an 8-week program from Terrain to help you select the right startup idea, before company formation or funding.

We take inspiration from sports free agency, where athletes go through a structured process to evaluate their options before committing to a team. They counsel with advisors, intensively survey their options, and determine which team allows them to be the player they know they can be – and gives them the best odds of success.

We provide a similar process for founders to select the right startup idea.

Unlike accelerators or incubators, Free Agency is highly individualized. No cohorts, demo days, high-minded hype, or generic programming. No “playing house.” We remove the pressure of premature commitment, the noise of fundraising expectations, and the distraction of weak ideas — so you can uncover the truly powerful one.

We ask that participants come ready to remove distractions from your life, focus, and work intensely to find a powerful idea.

During Free Agency Season One, we worked closely with 8 free agents. Of those:

• 5 raised capital and are building their products and companies.

• 2 navigated the idea maze and decided not to start a company right now.

• 1 is bootstrapping before raising outside capital.

We consider each of these outcomes a success. In each case, they reached clarity and an outcome that was right for them.

What is the structure of the program?

Free Agency starts with you. Your roots. What energizes you. The problems you can't stop thinking about. Then we help you get going, access to customers, products, and resources to build.

• 1:1 partnership with experienced investors and founders to navigate the idea maze.

• Collaboration on core methods dedicated to surface and select the right idea.

• $350k+ in tech credits from Microsoft, OpenAI, Anthropic, Framer, and more, along with other benefits.

• Access to specialists, customers, and CEO advisors.

At the end of the program, you’ll reach one of two outcomes: (1) A high-conviction startup with early momentum, or (2) A clear realization that now isn’t the right time—and that’s a win, too.

If you commit and start a company, we will support you further with:

• An offsite session in an inspiring locale for deep, focused work.

• Potential investment from Terrain and introductions to other investors.

Free Agency gives you the space, structure, and support to make the right decision—on your terms.

How do I apply?

To apply, complete the online application by September 14, 2025. The sooner you apply, the sooner we can get to know you.

We will be holding in-person meetings with Free Agency applicants:

• In New York City on September 3, 2025.

• In San Francisco on September 9, 2025

If you are based in these cities, we’d encourage you to apply before those dates.

What is Terrain?

Terrain is an early-stage technology investment firm led by Eric Stromberg and Willem Van Lancker.

We back founders who call their shot.

Credits

Free Agency participants receive over $350K+ in tech credits and support services that help you navigate the idea maze.

This includes credits and program support from Microsoft, Amazon, OpenAI, Anthropic, Framer, Linear, and more — along with other benefits including early access to new technologies and go-to-market support.

Free Agency Advisors

Select the right idea with direct 1:1 support of mentors and experts.

Specialists

After more than a decade of building and backing companies, we've built relationships with experts and specialists who help validate and shape new ideas. Our network covers everything from prototyping and product design to marketing and storytelling.

Beyond making introductions, we can stay involved as your partner throughout the process, leveraging our experience to help navigate decisions. Our specialists bring expertise in:

• Taking ideas from concept to working prototype

• Conducting diligence and user research

• Designing products & early brands

• Creating sales and marketing tests

• Writing differentiated content and narrative

• Building pitch decks

We've refined this network through years of real-world testing, keeping only the partners who consistently deliver great results and partnership.