With just a day to go for early-bird applications, 500 Startups is looking for new talent to participate in Batch 23 of their investment venture for up-and-coming company founders.
How does it work?
Companies from all over the world take part in their Seed Program that begins with a 500 Startups Demo Day. Every company who participates receives a $150,000 convertible security investment to use as venture capital to run their enterprises. Each participant pays $37,500 to attend. The 500 Startup Investment covers the initial fee, so there are no out-of-pocket expenses to join the other attendees in what some might say is a break few ever get in the world of business. Up to three company representatives can participate which is included in the starting fee. If you want to bring additional team members, you will pay an extra $500 per month in fees.
Successful companies can also receive up to one million in additional investment opportunities if they have a breakout idea. Participating companies receive mentorship, and knowledge in distribution, fundraising, branding, and public relations. Founders also receive the benefit of workshops, guest speakers, and special events aimed at helping them acquire the skills and knowledge they need to succeed.
The startup company Seed program accepts participants into individual tracks that include Fitness and Beauty, Fintech, Big Data, and Digital Health which allows company founders to receive direct mentorship from others in their industry.
How Successful are the 500 Startups Seed Participants?
The international portfolio of 500 Startups is quite impressive which includes many names in business you might already be familiar. If you are not, you just might soon be!
- 99 Gamer is an online store for gamers to buy and sell.
- Credit Karma provides free access to credit scores and reports.
- Crowdfunder is an online crowdfunding site.
- Life 360 is a free location-based app that allows family members to communicate via their location which also includes a 24/7 driver support and crash detection response.
- Magoosh is an educational platform online that helps prep students for exams like GRE, GMAT, SAT, TOEFL, and ACT.
- OkPanda is an online education platform that produces products for English learners.
- Play Canvas is a cloud-based platform for people who want to build video games.
- Publishizer is an online crowdfunding site for authors to raise funds to write and publish their books.
- Shopline is a platform that allows users to create an online shop in the Asian marketplace.
- Transcriptic is an online software program that advertises as a “Science as a Service” that performs trials and lab services via a remote lab.
- Viva Real is a South American online real estate marketplace that connects property owners with buyers and renters.
The portfolio is diverse which 500 Startups prides itself on in looking worldwide for talent who has the ideas but not necessarily the know-how to get their businesses off the ground. Twenty-seven percent of the last five batches of company founders were women. Almost half of the founders accepted into the Seed Program are minorities. The company also holds 500 Startups Unity and Inclusion Summits all around the world to bring together the brightest new talent for one day. The summit helps promote the 500 Seed Program, marketing, capital, and inclusion and diversity in the workplace. If you want to be a part of the next Batch 23, apply now! The early bird application period ends on December 15th. The second phase of the process lasts through January 19th, 2018. Applications, however, have a much better chance of acceptance in the early bird period!