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January 31, 2013

Deal Alert: 500Startups opens applications for Spring 2013 batch

Accelerator 500Startups is inviting applications for its spring 2013 batch. The accelerator, founded by super angel Dave McClure, will accept all applications through the Angel Lists applications platform. . Applications will remain open until March 1, 2013. This is for the first time that 500startups is going 100% open applications, as opposed to the referral network it generally follows.

The accelerator invests anywhere between $25,000- $250,000 in nearly 150 startups. It usually invests around $50,00 for a 5% stake. 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. 

Source: Nextbigwhat.com

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