Startup Application & Vetting Process
In this process, full due diligence will include the startup vetting team considering questions like:
Does this company's product seem viable?
Is it actually solving a clearly-articulated problem?
Does it have a reasonably sized TAM, SAM and SOM?
Does it seem likely the team will be able to deliver on their roadmap?
The startup application & vetting process is broken down as below.
Applying (Stage 1: Apply as a Startup to the startup membership on this page )
As startups apply to the membership, either on their own or recommended by the community (a community form is coming soon), they will go through an initial simple sorting process to see if they are in the right stage* and have a good track record and future trajectory.
*Right now, we are mostly interested in technology-driven companies with the below (though companies outside these criteria should still apply as they will be given equal consideration):
MVP-$30k MRR for revenue
Bootstrapped-$500k in funding
Typically <15 employees
Most applications that perform well against those criteria will be accepted and moved onto the next stage, at which point the applicant would receive an email stating as much. This keeps them updated on the status of their application and informed on the process.
Due Diligence (Stages 2 + 3)
The startup grind team will review all applications received and reach out to those that match our criteria and think would do well within our community. We will either reach out to get your most up-to-date pitch deck or to set up a call for us to meet and discuss your company in further detail.
Final Review (Stage 4)
The Startup Grind team will compare applications in batches and, if recommended by a DAO member, will also review the companies with the DAO. Finally, if we decide to move forward, we will come to deal terms that are beneficial for both parties involved. Our average check size is between 25-75K.
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