A rejection doesn't mean there was anything wrong with your application / start-up / you personally at all.

All it means is that there were other start-ups that caught their attention more.

You have to remember that they look at this as a business process, and a huge part of that process is "can we make money off of this as well"; it's tough to ascertain that over a video.

Keep on trucking, and I'm sure you'll do fine. It's 90% perspiration anyways.