TinySeed's Webinar Recording + Q&A
The TinySeed accelerator team (Rob Walling, Einar Vollset, and Tracy Osborn) took questions about our third batch application in a live webinar. See below for some of our most frequently asked questions:
Do you accept non-US companies?
We backed our first non-US company in our second batch — ScrapingBee, which is a French Corp. And we want to do more! That said, it takes a significant amount of legal effort and cost to invest in other countries, and often it makes more sense anyways for a non-US incorporated company to re-incorporate in the US; for instance, if you think you’ll raise more investment after TinySeed.
We recommend everyone, regardless of location, to apply anyways and if they’re a good fit, we’ll chat with you during the interview stage about what we can do to make the investment happen. Our application is fairly short so it shouldn’t take much time!
Can I apply as an LLC?
Yup — we support LLCs in all US-states. LLCs, LLCs taxes as S-Corp, and C-Corps all work. The only entity we cannot invest in are S-Corps, as they specifically cannot take investment.
I’m in (niche business) — should I apply?
If you are wondering if you should apply — yes, apply! We deliberately kept the application short so it should be pretty easy to fill out. We love niche businesses, we love unusual paths, so if you have any doubt whether you should apply, fill out the application anyways.
Do I need customers or revenue?
TinySeed works best for businesses with at least $500 in MRR — our program is designed for businesses who have some sort of proof-of-market and are looking to scale. That said, feel free to apply if you’re less than $500 in MRR (we have made exceptions in the past, but FYI, they’re rare).
On the top-end, we’ve funded companies already in the high-six or low-seven figures in annual revenue and were able to help accelerate their growth through our community, mentorship and guidance. So even if you think you might be too large for us, we’d encourage you to apply. For companies that are far along we’ll work with you to make sure the program and investment terms makes sense for you.
Again, our application is short and we ask a lot of questions in our follow-up, so if you are unsure, send in an application.
Do founders need to be full-time?
No, but we do ask that you go full-time if you receive TinySeed investment. You’re welcome to have side-projects too during the program!
Are solo founders okay? What about 3+ founders?
We define “founder” as any person who has over 15% in equity in the business. And we have no qualms for any number of founders — solo founders are great, multiple founders are great.
Will I get feedback if I’m declined?
Due to the sheer number of applications we receive, we can’t give feedback on every application. However, we do try to give feedback on all late-stage declines.
When is the next application?
We’ll be running two applications a year starting this year, and we’re hoping to have the next application scheduled for summer 2021. Join our email list to be notified when applications open.
Please check out our FAQ for answers to more questions, including our standard terms and about the program.
