Why apply to 500 Global?

Editor's Note:

Most founders were attracted to 500 Global thanks to their focus on unique markets and emphasis on company culture and ethos. The program’s structure with intensive training and a capital infusion were also huge draws.

Here’s what the founders had to say about why they got in touch…

  1. One founder felt that 500 Global’s alignment with their expansion goals and their division in Mexico was an opportunity to grow beyond our current geographical limits.
  2. 500 Global understood the emerging market one founder was targeting and shared their vision.
  3. The capital infusion and comprehensive startup training boot camp also set the accelerator apart.
  4. 500 Global gave founders the chance to solidify company culture and ethos, setting their startup apart from the rest.

This program proved instrumental in reshaping how we approached the daily operations of FlipGive for sustainable growth.

 Nicholas Lee, Co-founder @ FlipGive

How did you first contact 500 Global?

Editor's Note:

Many founders reached out to 500 Global individually to begin the process. Others received warm introductions that began the VC process.

 Here’s what the founders had to say about contacting 500 Global…

  1. One founder expressed that simply went into the meeting and laid out our current situation, clearly stating their expectations and objectives.
  2. Another reached out to 500 Global for a casual discussion with them, for a 30-minute session to present their product, solution, and the intended use of the funding. Then, the founder entered the due diligence phase. This stage was comprehensive, scrutinizing their proposal’s technical and commercial aspects.
  3. The dialogue began for another founder through a warm introduction from someone from their existing network.
  4. The venture process typically involves initial and subsequent follow-up calls if there’s interest.

How much funding can you expect from 500 Global?

Editor's Note:

For 500 Global, funding ranges between $400,000 on up to $1.5 million or more. One founder received $150,000 in exchange for roughly 6% equity.

 Here’s what founders had to say about how much funding they received from 500 Global…

  1. After completing the program, one founder raised about $400,000. 500 Global didn’t lead the round; most of the investors were angel investors they already knew.
  2. One founder attracted more investment than our initial target of 1.1 million US dollars.
  3. Another remarked that the total raised in the seed round, including 500 Global’s participation, was around one and a half million dollars.
  4. As part of our admission to 500 Global, one founder received funding of $150,000 in exchange for roughly 6% equity.

The funding is crucial for early-stage startups, enabling them to scale their operations, refine their products, and expand their market reach during the accelerator program.

Andrew Batey, Co-founder and Co-CEO @ Beatdapp

How long and how intensive was closing the round with 500 Global?

Editor's Note:

Global 500’s process is straightforward and usually takes only 1-2 months. After closing a round, finalization takes around 1-2 months.

 Here’s what the founders had to say…

  1. 500 Global’s process usually takes about one to two months.
  2. The round’s closing, particularly when it became oversubscribed, takes about one to two months at most.
  3. One founder remembers that closing the round didn’t pose significant challenges, and 500 Global had it sorted out within a couple of months. It didn’t seem overly complex.

What sort of support does 500 Global provide beyond funding?

Editor's Note:

Global 500 does more than fundraising. They also help with business development, intros to potential customers and regular progress checks. In some cases, Global 500 also facilitates introductions to investors.

 Here’s what the founders had to say about what they got beyond funding…

  1. One founder said that 500 provided comprehensive assistance in all aspects of fundraising and business development. This included introductions to potential customers and team members and regular weekly meetings to discuss our progress and plans. 
  2. Another reported that 500 Global facilitated introductions, aiding in future investment rounds and connecting them with potential partners within the ecosystem.

This continuous follow-up significantly helped us improve our performance. In fact, during the three-month program, we doubled our Monthly Recurring Revenue (MRR).

 Michael Mota, CEO and Founder @ AlterEstate

Final advice to consider before joining 500 Global?

Editor's Note:

The founders who went through Global 500’s process highly suggest keeping your pitch concise and clear. Understanding your PM fit is absolutely essential for acceptance into the program. And if you can swing a warm introduction from a previous participant, it can give your startup a big boost in the application process.

Here’s what the founders advised about 500 Global’s program…

  1. At the end of the day, keep your pitch deck concise. Focus on clearly articulating the problem space your business addresses.
  2. The most crucial aspect is product-market fit. It’s essential but often understated. 
  3. It’s not just about obtaining funding; it’s about understanding and utilizing the full range of resources and support these accelerators offer. 
  4. Connect with a founder who has already been through a 500 program and request a referral.