We're accepting applications from international teams and do not require incorporation. In the second batch, we have teams participating from the UK, Kenya, India, Ghana and Malaysia.
The first fellowship did not require incorporation, I imagine V3 will be the same.
How can there be a convertible note without incorporation?
You don't have to be incorporated to apply and be selected. But you do have to be incorporated to accept the deal and the money.
Aah, this makes a lot more sense. Still, the questions remains. Does it need to be a US C Corp?
Teams have to incorporate, though they don't have to be incorporated yet to apply. There are a couple instances with F2 where we've allowed international teams to keep their pre-existing co structure, but it's still strongly preferred that teams are Delaware C Corporations.