APPLICATIONS ARE NOW OPEN FOR 2017 API10X
It is always exciting to create new success stories. Selecting the cohort of second-stage startup companies for the API10X is a bitter-sweet process. As exhilarating as it is to hear passionate founders share their dream, we will take only the ones with the most traction, most experienced teams, most advanced products, etc., making the selection not so easy.
HOW WE SELECT STARTUP COMPANIES FOR API10X
Here is how we run the selection process in five steps:
All startups must apply online. At this stage, second-stage startup companies provide information about their company, their team, the problem, their solutions, etc. This is the first contact between the entrepreneurs and API10X accelerator, the first opportunity for our advisors to ‘meet’ you. You have only one chance to make a great first impression. Play To Win!
- To be taken seriously, fill out the form like a professional
- Be sure to fill all of the form
- Be concise and concrete. We want the right information about you and your team, not a sales pitch.
- Don’t lie
- Use all your media resources: video, social media links, websites, etc.
- Yes, we will click on founders’ profiles.
If you get to this stage it is because we have an interest in you. This interview is to magnify the information from the form and give you the opportunity to clarify certain points. We want to know more about you and your team, where you are at and what you are looking for.
These interviews are a 20-min phone call with the team. Some of the questions are: What is your company? Why API10X? What is the current status of the company? What happens if not selected for API10X? Why should we choose you?
- Be on time for the interview.
- Select a good place for the interview, without noise and distractions
- Be honest.
3. More information
Once you are at this stage, we are really interested in taking a deeper dive. Now, we ask you for supporting evidence, business plan, pitch deck, or anything that can add value to your application process. It can be: traction numbers, financial information, IP evidence, demo, media release, etc.
- Take time to prepare the information requested with attention to content and structure
- Answer in a timely manner
- We don’t want or need to steal your idea
4. Advisors evaluation.
At this stage, we ask our team of advisers to take time to review your application and your detailed information. They will evaluate you on five aspects: team, business model, degree of innovation, potential market, and motivation. Our advisers come from a broad range of disciplines, offering a variety of perspectives and points of view.
- There is nothing you can do at this stage
5. Selection committee
Final step. Our selection committee decide which ventures will be accepted into the API10X advanced accelerator program. It starts with a quantitative approach of each company and finally a qualitative approach where the members of the committee and their point of view about each company. Once they get a final decision, we notify the selected companies and coordinate their individual on-boarding.
- You can´t do anything at this stage.