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Not a second to spare after last demo day, AngelPad is already looking for its next batch
Startup incubator AngelPad is now accepting applications for its next session, set to start on August 19th.
All applicants need to submit is contact information for the company and its founders, along with “your idea in 3 sentences at most.” If you think the standard 30 or 60 second elevator pitch is hardcore, conveying the foundation and ambitions for an entirely new business could be even trickier to do with just three sentences. (That is, unless you’re very good at using semicolons.)
But it reveals what AngelPad is looking for: a good idea founded on a mountain of creativity.
Applicants also must submit a video (two minutes max) introducing the founders and company.
The deadline for applications is May 1st at midnight, leaving founders about two weeks to get all their info in. By the 5th, AngelPad will be in touch with startups that make the second round, presumably to set up in-person interviews.
As with previous sessions, the next class of (at most 15) startups will each receive $20,000 in seed funding from AngelPad in exchange for a six percent stake of the company. Not a bad deal at all for either side. Like any respectable incubator, however, AngelPad insists its program is less about the destination (funding) and more about the journey (mentorship).
Over the course of the 10-week program, the accepted companies share a sunny office space in downtown San Francisco, meet regularly to discuss ideas and product development, hear from guest speakers and meet with angel investors. At the end of the program, AngelPad hosts a demo day, where startups show off what they’ve been working on. Even after demo day ends and startups leave their nest, mentors continue to help those startups raise their initial funding rounds.
To get an even better idea of the kind of startups and ideas AngelPad seeks to mentor, read up on the pitches from the incubator’s last batch of 13 startups. There’s Shopobot in social retail, Hopscotch for mobile QR reading, Kismet for next-generation online dating and much more. AngelPad doesn’t really seem to favor any industry in particular, but instead looks to new, creative and (hopefully) disruptive ideas from its founders.
Also, if you haven’t already, watch our interview with AngelPad creator Thomas Korte here.
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AngelPad is a mentorship program founded by a team of ex-Googlers to help web-technology startups build better products, attract additional funding and ultimately grow more successful businesses.