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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 w
by matthuggins 14y 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 14y agoDon'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.
- scottallison 14y ago500 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.
- davemc500hats 14y agowe 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.
- littlegiantcap 14y agoDave, For the video will a product (explainer) video suffice?
- davemc500hats 14y agosure that's fine. altho we'd like to learn more about you too :)
- littlegiantcap 14y agoWell, we'd shoot a team video, but we're in the process of relocating our startup so we're a little disparate. I guess you'll just have to interview us :)
- matthuggins 14y agoExcellent, thanks for the detailed answer. :)