We've been doing pretty much the same things since we started in 2005: we've never given specific feedback about rejections at the application stage (it wasn't going to scale even when we only got a few hundred applications). We funded 8 startups in our first batch, which was roughly 2-3% of the total applications.
We definitely fund people who have no connection to folks we already know, or Silicon Valley for that matter. And we also fund startups who are at the idea stage and have no traction (though traction does help).
I'm very sorry we rejected you, but we are honestly often wrong.
We definitely fund people who have no connection to folks we already know, or Silicon Valley for that matter. And we also fund startups who are at the idea stage and have no traction (though traction does help).
I'm very sorry we rejected you, but we are honestly often wrong.