This time around, the accelerator founded by super angel Dave McClure will accept all applications through Angel Lists applications platform.
Companies need to apply here, with their AngelList profiles. Applications will remain open until 1 March 2013. This is for the first time that 500startups is going 100% open applications, as opposed to the referral network it generally follows.
Our network is awesome. But it’s still small compared to the world. Our mission is toseek out new startups and founders everywhere, and it’s hard to do that by just relying on personal referrals.
500Startups: Investment Structure
The accelerator invests anywhere between $25,000- $250,000 in nearly 150 startups. 500 Startups usually invests around $50,00 for 5 % stake in the startup. The accelerator is looking for companies with traction that want to go to the Silicon Valley, companies without traction with a functional prototype, some usage or customers and a “reasonable idea” on how to make money.
Over half of the accelerator’s current batch comes from outside of the United States.
It usually cares about investing in the consumer, SMB, Family Tech, Education, Marketing, Video content, Language, Mobile, Tablet, Financial Services, Payments and Food Tech among others.
What is 500startups looking for? Check out this infographics: