500 Startups is now accepting applications on AngelList

by kurtvarner • 14 years ago

65 19 14 years ago

kurtvarner• 14 years ago

Here are a couple sources that explain why Dave McClure felt that an application was necessary and how they will be handling the process through AngelList.

TNW: http://thenextweb.com/insider/2012/09/13/500-startups-breaks...

TechCrunch: http://techcrunch.com/2012/09/13/500-startups-angellist/

dbul• 14 years ago

Why is your team bad ass?

This is my kind of application. This is similar to TechStars's application question "Why should we accept you?" which is great since you can candidly answer why you are a good investment.

salimmadjd2• 14 years ago

This is a great move for founders as I wrote here: http://news.ycombinator.com/item?id=4517593

blaines• 14 years ago

FYI: The "Apply" button isn't initially obvious.

It's the blue button on the top right inside the gray banner with 13px font that says "Now accepting applications for Batch 5".

salimmadjd2• 14 years ago

I agree! I had the same problem too.

davemc500hats4• 14 years ago

yeah, sorry about that... we'll let the folks at AngelList know. agreed it's kind of non-obvious.

matthuggins2• 14 years ago

Question that may seem obvious (sorry if it is). Is this intended for existing startups that have already gotten their feet wet, or is it intended for people with ideas & elevator pitches?

ncasenmare• 14 years ago

Don't worry, I had the same question. From what I can tell, 500 Startups prefers if you've already been incorporated, (unlike YC) but I'd be surprised if they won't help you incorporate if they like you.

scottallison2• 14 years ago

500 has always been about startups with some degree of traction. Out of our batch, all bar 2 had a product, and over half had revenue already.

davemc500hats4• 14 years ago

we usually prefer you have: 1) a functional prototype 1.1) or you've built products w/ previous traction 2) a team which includes one engineer at a minimum 2.1) ideally + designer + cust acquisition), and 3) some # of users (not your mom or your friends) 3.1) ideally some revenue too 4) have a business model / revenue model 4.1) or, shitloads of traction if not 5) some moxie.

littlegiantcap2• 14 years ago

Dave,

For the video will a product (explainer) video suffice?

matthuggins2• 14 years ago

Excellent, thanks for the detailed answer. :)

trifu• 14 years ago

Does anyone know the success rate of sole founders making it into these Accelerator programs vs a team of founders?

MatthewB• 14 years ago

I was in the previous batch @ 500startups and I don't think any of the ~28 companies had a solo founder. Doesn't really answer your question but just an FYI.

scottallison2• 14 years ago

Actually I'm fairly sure there were 2 teams with single founders at the time of application. All had a team though, that's the most important thing.

jkaljundi• 14 years ago

Thomas Korte from Angelpad has said he's accepting solo founders.

davemc500hats4• 14 years ago

we prefer teams, but we do accept solo founders occasionally... if yer friggin' awesome.

500 Startups is now accepting applications on AngelList

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