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?
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.
Dave,
For the video will a product (explainer) video suffice?
sure that's fine. altho we'd like to learn more about you too :)
Well, 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 :)
Excellent, thanks for the detailed answer. :)
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.
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.