Accelerator 500Startups is inviting applications for its spring 2013 batch. The accelerator, founded by super angel Dave McClure, will accept all applications through the Angel Lists applications platform. . Applications will remain open until March 1, 2013. This is for the first time that 500startups is going 100% open applications, as opposed to the referral network it generally follows.
The accelerator invests anywhere between $25,000- $250,000 in nearly 150 startups. It usually invests around $50,00 for a 5% stake. The accelerator is looking for companies with traction that want to go to the Silicon Valley, companies without traction with a functional prototype, some usage or customers and a “reasonable idea” on how to make money.
Source: Nextbigwhat.com
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