The TinySeed Team Answers Questions on Applications, Funding, and More (Video)
The TinySeed accelerator team (Rob Walling, Tracy Osborn, and Alex McQuade) hosted a live application info session to answer questions about the Spring 2024 application round.
New to TinySeed? Check out the recording above, read more about the program, or check out our FAQ.
Questions Answered:
(Click the timestamp to jump straight to the question on YouTube)
10:00 - What’s the application process? How many rounds? When are decisions made?
11:40 - When are decisions made?
12:48 - Do you invest in pre-revenue startups?
14:00 - For Latin American/Caribbean based SAAS businesses, do you provide extensive help with getting the company setup as a US based entity to receive funding from the program?
16:00 - Is it fine for an EMEA candidate to be organized as a US LLC, or do you prefer a European company for EMEA investments?
16:55 - How much equity does TinySeed get for the accelerator?
17:30 - Does a SAAS have to have global impact to be accepted in the TinySeed program or could it be specific to a particular region? Particularly the Caribbean?
21:10 - How do you think about Non-Technical founders? I have a revenue generating MVP using No Code workflows. Eventually I would like a technical founder.
23:30 - Once accepted into the program are all team members expected to work fulltime on the business?
25:40 - Are B2C SaaS companies eligible?
27:35 - I started selling lifetime deals yesterday to our pre-launch and I have sold $1100. Would this be sufficient? We plan to launch the product in 2 months but currently we are a marketing site with pre-launch registrations and a lifetime deal.
29:00 - Can you apply if you are not incorporated yet?
29:45 - We used to make more than 500 USD MRR - but the devaluation of the currency has dropped us to around 400 USD. Would we be considered?
32:00 - I am starting my SaaS startup from scratch. The idea is promising. Do you have any suggestions? Additionally, I plan to hire employees using my monthly income. Any insights?
33:45 - Do you consider SaaS companies that are built on top of other platforms? Like a Shopify App? Or only stand-alone SaaS platforms?
35:10 - Do you have to leave your day job if you get selected? That’s my main concern – I like my day job and I think I can manage serious growth for my SaaS alongside it.
36:45 - What is the best way to start building a history while still being in the customer validation stage with the goal of applying for the next Fall cohort?
38:00 - How early is too early? We're definitely meeting the MRR threshold, but revenue is crazy lumpy because I think we are on the near end of the product-market fit spectrum.
39:00 - Have you made any tweaks to the EMEA program?
39:50 - Have you seen any applicants applying from the Caribbean?
40:37 - As all categories have massive competition today, why do you think a new SaaS app will succeed? Let’s say a niche CRM or a Marketing Automation tool..etc etc
42:15 - How do you feel about part-time co-founders in the early stages? Is it a red flag? One co-founder is full-time and the other part-time purely due to cash flow.
43:00 - We have an app that automates what many consultancies do manually for clients charging hundreds of thousands per year, 10's of Millions in the ecosystem. Without PMF, would we be considered?