1. What is your selection criteria?
- An idea that addresses a problem for a sizable niche market
- Cross functional team (hacker, hustler, designer)
- Mainly internet distribution (web, SaaS, search, mobile etc.)
- Can complete a prototype, beta or market-ready product within 3 months
- Can scale/ be operational with little capital investment (typically under $1M seed)
- Minimum Viable Product (MVP)/ early functional product a plus
- Some early traction, small number of users and revenue a plus
2. How much will you invest in each company? What percentage of equity will you receive in return?
Selected companies will receive an investment of $25,000. In addition, each company will participate in the San Diego program and then receive 3-months of free space and mentorship in Silicon Valley. In return, we will receive a 5% equity stake in your company.
3. What if I need to raise additional capital?
A key component of the program is Demo Day where you will pitch to Silicon Valley's investor community. Additionally, Plug and Play also provides seed capital and has invested in 100+ companies like Dropbox, PayPal, Zoosk and Lending Club to name a few. At the end it will depend on how good your idea is, how much progress you have made, how impressive you are, and whether there is a fit with a particular investor or group.
During the program we will work with you to create and refine your pitch.
4. What is expected of me?
We want you to stay focused and work hard on building your company. We also hope that you will be open to ideas and suggestions from the mentors. Other than that, we want you to enjoy the experience!
5. How do I apply?
Simply fill out our online application.
6. What is the Application deadline?
Check out our schedule.
7. What do you look for when reading an application?
We have an investor committee that reviews each application. Please AVOID writing long essays and DO NOT use marketing jargon and buzz-words like this: leading-edge software with a patent pending intelligent self-learning algorithm that integrates all marketing channels for a synergistic view of the data that determines and prioritizes the high-value marketing activities.
Keep FAQ 1 in mind, be concise and get straight to the point.