They may review the applications, but if you submit it very late, they probably will look for absolutely ANYTHING that they could decline you for. I submitted

They may review the applications, but if you submit it very late, they probably will look for absolutely ANYTHING that they could decline you for. I submitted a late application for S14, here was the response: "We're sorry to say we couldn't accept your late application for funding. Please don't take it personally. The chances of a late application being accepted are much lower than for an application submitted by the deadline. If you want to apply again for the Winter 2015 cycle, the application will probably be online within the next couple of months. Another reason you shouldn't take this personally is that we know we make lots of mistakes. We have good statistical evidence that we fail to interview a significant number of startups that we'd accept if we did." From the reading, it seems that they probably briefly reviewed it.