In a previous post, I wrote about why and how you should join the 500startups accelerator (or any premier accelerator program, for that matter). I briefly mentioned that I've been given access to provide opinion on applications for the next batch (Fall 2013), as a 500startups program alumni.
To date, I've reviewed close to 300 startup applications, likely more than anyone else with review access on this batch, so far (to be clear - each application would be reviewed by multiple people before a decision, sometimes as many as 30). A running joke in the office is one of the 500startups staff walking near my desk and asking me "don't you have a company to run?" or "don't you get tired of reviewing those applications?". I'll have the last laugh though, because they will have to go through all of those applications eventually, where as I can just skip the ones that are not a clear yes or no.
Reviewing startups turns out to be somewhat addicting. I keep hoping the next application would blow me away, and it will be an easy upvote, but unfortunately most are not. From reviewing all those applications, I think that most people are not clear on what the top accelerators look for in companies. So in favor of openness and in the hopes of helping someone out there increase their chances of getting accepted, here are a few rules of thumb for being attractive to startup accelerator (or even VCs):
Continue reading After reviewing 300 startup applications, this is what I learned