What is the criteria you use to decide what ideas you will work with?

Great question! There is a huge interest for this offer and we, obviously, can’t work on all of the ideas we’re hearing about. Being a business, we focus on the ideas that have the highest probability of success as soon as possible, so that we can be paid. So, basically, you will need to convince us that your project has a high probability of raising money in the next 6-12 months. Any information that will help you with that is greatly appreciated. Here are some ideas of what could be helpful:

  • You idea should be awesome. Awesome ideas tend to attract investor’s attention faster, right?
  • You should be engaged with the investors. Basically, you should be at the stage when the only thing that stays between your idea and having money raised for it is the first version of the product and the traction. The rest (business plan, deck, first conversations with the investors) should be already done.
  • Your idea should be specific and realistic. Building an “app that works like Google+Facebook+Twitter, but better” is a good example of an idea that’s neither specific, nor realistic for a pre-seed level startup.
  • You must be committed to your startup idea. If you’re only working on it every other weekend while having a beer with your friend – that’s not gonna work. You can be employed full-time, but still find at least few hours every day to work on your startup.