We Answer Your Top Questions About a16z speedrun
Last week we held a live call with hundreds of speedrun applicants. Here were the top questions that came up, along with answers from our team.
🚨 Apps for SR005 Have Officially Closed!
For everyone who applied, thank you sincerely. We’re aiming to get back to all applicants within 2–3 weeks.
For those who missed the window for this one, we’re keeping the application portal open for now. It’s a great way to get updates about the next cohort of speedrun, which will began formally accepting apps in September.
Apply if you’re interested! And for any questions, email us at sr-team@a16z.com
Last week the a16z speedrun team held an hourlong live “Ask Us Anything” webinar for hundreds of speedrun applicants and those curious to learn more about the program.
Our team hopped into the chat to answer as many questions as we could, and in today’s special edition of the newsletter, we’d love to share those responses with you.
Without further ado, here are 65 of the top questions we get about a16z speedrun:
On how we evaluate companies and teams:
How do you spot a good application? What's the heat map in application form?
It’s multi-faceted but tell us about yourself and why what you’re doing matters. Specificity is better than generalities. —Andrew Lee
What do you guys look for when you guys examine genAI consumer apps? Is it traction or retention for someone who has launched a week ago?
User growth (how many people are using the app and how fast it it growing?), engagement (average session time, # of creations etc), and retention (are users coming back 1 day, 2 days, 3 days, etc after the launch). —Jonathan Lai
Does seniority in founders matter at all?
No, we look for founder market fit. How is this founder uniquely well qualified to tackle this problem? —Jonathan Lai
I am 17 and have been studying and researching for the last four years. Does speedrun welcome teen founders?
Yes! you wouldn’t be the first, and won’t be the last :) —Tom Hammer
I know you’re looking for founders that can execute on the idea themselves. Our co-founders have sufficient technical expertise to launch an MVP, but we’re still seeking a dedicated CTO to carry the product into future growth phases. Should we apply this cycle or next? Thanks!
It won’t hurt to go ahead and apply and be honest about where you’re at! You can always reapply. —Macy Mills
How do you view teams that are executing against insight(s) that resulted in a pivot within the past 18 months?
Pivots are totally fine! We see them as a natural part of a startup's journey. What matters is what you've learned and how things are going post pivot. —Jonathan Lai
Is the traction requirement hard set? What if we’re still in the interview and validation stage at the time of application? (We have a prototype.)
We take companies both pre- and post-traction. —Robin Guo
What do you notice among successful cofounder dynamics when you first meet them?
I’ve given this a lot of thought, many answers but top of mind: cofounders who fit together in a complementary way, and who are deeply trusting of one another’s abilities to deliver in their lanes. Cofounders need to have the utmost confidence in one another, a lack of this confidence can be a wedge. Also, it's really hard to give one another constructive / critical feedback if you don't trust one another. —Tom Hammer
Does prior participation in another accelerator affect your decision to admit a startup into speedrun?
We’ve had teams that have done both! –Robin Guo
Would a reason for not being picked be that you already feel you have exposure to a certain idea or market opp?
Not directly, but if we see there are a lot of teams going after a single idea that will mean the bar is higher for every team in that space to demonstrate differentiation! —Josh Lu
Does a16z speedrun prefer a big market like a consumer one over a smaller market with niche like ai with legal or devops
We like seeing problems shared by many—or deep problems felt by a few. But we’re looking forward to hearing how you can turn this into a unicorn company! —Andrew Lee
Would getting a reference letter from a speedrun founder increase my chances?
It certainly helps to have strong references. And given that former SR founders are people we strongly believe in, a referral from one would definitely provide meaningful value to your application. —Jordan Carver
Who is considered a good referral? Someone who is associated with a16z, Andreessen Horowitz group, former speedrun winner, or someone who is a founder of a unicorn startups who was a YC alum?
In-network - founder > employee > other ppl we respect/admire. a16z employees help too. —Andrew Lee
I’ve got one of the biggest chips on my shoulder. Is that a good fit for you guys?
Generally, we love founders who are out to prove something. Chips on shoulders can be healthy fuel when managed correctly. Some of the biggest problems in the world get fixed by people who are extremely frustrated by them and out to prove something. —Jordan Carver
Is virality on social media given high merit?
Useful if you can convert that to users and continue to go viral! —Robin Guo
If the other cofounders are present full time, can I be ‘part time’ since I am in my final year of my masters?
We prefer all co-founders to be full time since we want to see you have strong conviction in what you’re building for us to also have strong conviction in you. —Robin Guo
What is the purpose of the interviews vs the application? What are you looking to derive from the interviews?
Watch this:
—Andrew Lee
What are you trying to learn about the founders/company in the interviews?
Motivations, thesis, knowledge, market, product, etc. —Robin Guo
On the types of companies and teams we want to see in speedrun:
Are you only selecting post-revenue startups?
No, no startup is too early. —Andrew Lee
Do you have a preference between consumer and B2B / tools?
Nope. We like all types. —Andrew Lee
Do you accept startups that have a hardware / wearable element?
Yes, we have alum companies that are building hardware. —Tom Hammer
Among the members of the Speedrun (SR) team, how many are married with children? To what extent might their collective life stage and professional backgrounds skew the team’s industry focus? (Might miss parent/kids related apps?)
We come from all across the life spectrum. Many of us are definitely looking for parent/kid related apps. —Andrew Lee
What if we are super brand new and have no waitlist collected on paper yet even though there are interests when we were doing product validation. We have been brainstorming this idea for over a year. As soon as we found out about a16z, we shifted our focus on building the MVP of the product, so we haven’t spent time on chasing after or putting the interest of users on paper yet. Should we still apply with a killer pitch deck and a good product demo?
Definitely still apply! We’d love to see it! —Macy Mills
What's your thinking on founding teams with family in the mix? Siblings/spouses, for example.
Every relationship and company is different of course, but we’ve definitely funded co-founders who were siblings or spouses in the past. —Jordan Carver
What if you’ve already raised money? Do you need to be the first check in?
We are oftentimes the first check in but not exclusively. We have taken lots of teams that have previously raised money. —Josh Lu
On how the application process itself works:
Do you review material received in your email inboxes, after a team submitted an application?
Every single application gets at least two human reviewers! That’s why it takes us so long :) —Macy Mills
Are startup ideas treated with confidentiality?
Yes. —Andrew Lee
Can you cover the application process and timing? When will we know if we are getting an interview and accepted?
Within the next month if not sooner. —Andrew Lee
I have submitted my application, but still nothing, should I go with another application?
No need to submit again if you already put in an application. We’ve got a high volume of applications (especially in the final week here) and the team is still reviewing. —Jordan Carver
How many participants are you accepting into the next cohort?
We target ~50 companies, but really we keep accepting more and more, so it is more about companies that meet our standard. —Andrew Lee
I applied a few weeks ago, but haven't received any updates yet. If I haven't received a rejection email am I still in the running?
Yes, still in the running. Our team is reviewing applications still, and likely will be getting back to people throughout May (and maybe early-June). We are trying to review and respond as quickly as possible! —Jordan Carver
For pre-launch—do you want to see a demo? and how to share in the application?
A few ways. You can share screenshots in a deck or put a link to a video of the demo! —Colin Campbell
We have a working MVP app. How can we show the demo on the application?
Drop us a link to a video, or a link to the demo in the application! —Josh Lu
Is a warm intro better for applications?
Having a referral helps. Find someone within our network or has gone through Speedrun. However if you don’t have that, just focus on the fundamentals we spoke about before. —Andrew Lee
How should we communicate all this information (like our experience with the problem, how we’ve done half-brained things, and now addressing it seriously) through the application? Something around a story or a more formal “answer?” What about situations where the experience is personal to some extent (close friends, family, observations, etc.)? I want to stick to “brevity is the soul of wit,” but am not sure how to do so.
Type out exactly what you know and why the problem is real. Type it out as long as you want—then run it through an LLM and tell it to make it brief and concise. Then use that as a starting point to rewrite a shortened version in your own words. It’s very likely that you can convey this important story in 3-5 sentences. —Andrew Lee
In regards to the strength of the team, I notice on the application we can only list information about the founders. If our early hires also have amazing qualifications that reflect their belief in the founders’ ideas, how would we get that across within the application?
Include them in the deck or in the more information section! A strong team to brag about is a great thing to showcase. —Colin Campbell
I’m currently a solo founder, but am in the late stages of evaluating a technical cofounder. What’s the best way to reflect this “in-progress” status in the application, given the (understandable) emphasis on having a technical cofounder?
You should list your technical cofounder and just qualify it as in-progress, and during the interview we can talk about how you're making that decision. —Jonathan Lai
Are you using AI to select the startups?
Nope. —Andrew Lee
Do you read applications or is there an AI app screen before it hits human eyes?
We have multiple partners review each application! —Robin Guo
Do I need a deck? I am still prototyping but I feel like it’s premature to build a deck when I can spend more time building out my demo.
No, you don’t need a deck. In fact it can sometimes get in the way. We prefer to have a conversation with you to tell us about what you’re working on and why it matters. —Andrew Lee
Our MVP is intentionally focused on a very small niche, but our dream is huge. How much space in our pitch should we spend on the long range, blue sky vision?
Going from niche validation to large scale solution is very common! Just make sure you tell us what that roadmap looks like in your application. —Josh Lu
How many stages/interviews until we get accepted into the program?
After application, there may be a video request. Generally we’ll then do an interview and maybe a follow-up conversation. Then if we accept you, it’ll usually be after the interview. —Andrew Lee
What should we do if we’ve built a demo since we submitted our application? Should we resubmit with a new pitch deck and demo?
Send an email to sr-apps@a16z.com with your updated information. —Andrew Lee
Do you give feedback to startups who don’t make it to the interview rounds?
The answer is “sometimes.” We try to communicate as much as we can, especially if we thought you were close. We have lots of SR applicants that might not make it their first time applying, and then make it into the next cohort. Unfortunately, we can’t write out a detailed response to everyone. We absolutely do try our best though to respond and provide clarity. —Jordan Carver
I applied with an idea, but during market exploration I found another problem and got huge feedback from Reddit users—I connected to them to figure out the core of the problem. Should I apply with this new product or am I not allowed to do that?
Yes, if your current idea is a pivot or something markedly different from your initial application, please feel free to apply again with the new idea (there isn’t currently a way to amend an initial application). —Jordan Carver
Does every application get a result email? If not, when should one assume the application is rejected?
The team will respond to every application! —Doug McCracken
Do last-minute applications still have a chance?
We have funded a bunch of great companies for SR005 already, but we are still ready for many more. If you submit at the last hour, last minute, last second… you still absolutely have a chance. We are going to look at every single application regardless of when it comes in! —Jordan Carver
On immigration and global teams:
How does a16z view opportunities in large emerging markets like Brazil? Does that fit within your investment thesis?
Everyone in the world can apply to speedrun! —Andrew Lee
Hello! We are an international company based outside the U.S. Are we eligible to apply, and would there be any limitations or issues in receiving the investment?
Yes, we’ve admitted many international companies and international founders.. if we're excited about the idea but there’s an issue with your current incorporation / legal structure we’ll discuss it. —Tom Hammer
Would you guys also provide support with immigration? I’m an immigrant solo founder (on F1) and currently have to keep taking part time roles to satisfy my OPT requirements which becomes quite distracting.
Yes. We don’t provide full legal support but have a curated network of immigration attorneys that do. —Tom Hammer
What if the startup is from outside the US? Can selected teams use some of the funding to participate in the speedrun program?
Yes, this happens regularly and it’s a business expense. —Tom Hammer
ON HOW THE PROGRAM WORKS FOR THOSE ACCEPTED
Do all partners work with each company throughout or do you get a partner dedicated to your company?
You will get one partner that helps you on a day to day basis but also acts as a quarterback to get you access to everyone else on the team. You will work with the entire team but have at least one cohort lead who is responsible for making sure you have maximal support. —Josh Lu
Are there any tangible qualifiers that define whether a company is ready for demo day or not?
Great pitch + demo + ideally some traction by demo day. —Robin Guo
Is the speedrun investment sent before the program starts? Specifically so that travel, housing, salary, etc. is covered during the program.
Yes, we wire our initial investment before the program starts. —Josh Lu
Does a16z take board seats as part of the investment?
Generally not for speedrun, no. —Tom Hammer
What do most speedrun founders use the funding on? (salaries, marketing etc)
Salaries and building. —Andrew Lee
Do speedrun companies typically raise a seed round at the end of the program? Or do they use the initial investment to gain more traction before raising further?
They’ll usually use our investment and help to accelerate the building / traction and then raise an even larger round at Demo Day. —Robin Guo
Other miscellaneous questions:
When will the next batch open for signups after this one?
Likely at the start of September, but dates may change slightly. —Jordan Carver
How does Speedrun support alumni after the program ends?
We don’t disappear on you, I promise. It’s less support since you aren’t working in-office with us the same way you are during Speedrun, but we still act as fractional support for “alumni.” For instance, I’ll still be sending you talent you can access to support hiring. —Jordan Carver
Do you recommend that companies become incorporated before applying?
We have had companies that were incorporated upon acceptance into the program. That said, being incorporated before is definitely better! —Josh Lu
Where in Los Angeles will speedrun be?
Santa Monica. —Marigold Vu
Is the speedrun team hiring? What do you look for / how did you end up joining the team?
We don’t have open full time roles right now. If you follow us on LinkedIn / Substack and keep an eye on this site, you’ll hear about any new openings! —Doug McCracken
To Josh, you mentioned that it’s important for startups to solve a problem. In gaming, is it always a problem? What problem does Roblox/Minecraft solve? Aren’t some of the huge successes just opening up new markets?
Roblox (and Minecraft) enabled a new form of digital creation. So many creative people who didn’t know how to make interactive experiences before learned how to do so on those platforms. —Josh Lu
We applied a few weeks ago. Since then, we’ve been part of another accelerator and have unlocked a much bigger opportunity; it is the same space and thesis, but pivotal changes to our product. How can we submit an updated deck/application? We have an update in traction as well (just about to crack 5,000 downloads ~65% conversion without GTM yet).
If the idea has changed substantially (or even if it’s a significant enough pivot) I would submit a fresh application. There isn’t currently a way to update an existing application.
—Jordan Carver
How often do you run the Speedrun program? And when is the next one planned?
Twice a year! SR005 starts at the end of July. —Macy Mills
That’s it for this week. We hope this was helpful for anyone who has either already applied to speedrun or is thinking about applying to the next batch.
Although apps for SR005 have officially closed, the application portal remains open, and we encourage anyone interested in joining SR006 to fill out the form. Doing so ensures you’ll be notified when we begin formally accepting apps for it in September.
In the meantime, for more weekly deep-dives into the cutting edge of tech and entertainment, subscribe below:
I applied but was rejected. It’s an idea that I really believe in and I hope the next time round, I’ll be accepted for the interview. 🤞🏻