We are looking for teams of founders who are primarily technical in nature.
Not necessarily ones of academic intelligence but who have a great sense of what it truly means to be a hacker – to make something with no money and extreme uncertainty. No one wants excuses, you just get it done.
Seriously. If you can’t laugh about life and accept that things will not always go your way, then the chaotic emotional roller coaster of running a startup will likely be too much.
7. A SENSE OF HUMOUR
Located in or near Sydney for the duration of the program and be able to work full time on your startup during January to the end of May. And also able to travel to Silicon Valley for the month of April and May.
5. TEAM SIZE
Manu Kumar of K9 Ventures said it best: “The highest chance of success is for founding teams of two. Three founders is okay too, but two seems to be the ideal number. Any more than three founders and it’s usually just a mess, and there’s bound to be a shake out in the future. A solo founder is a special breed and only those people who have the determination and strength of will to hold on to the roller-coaster can make it as a solo founder.”
Opinions and ideas are the lifeblood of startups but they should be validated and metrics should be what eventually steers the ship. If you haven’t seen or read Dave McClure’s Metrics for Startups or Andrew Chen’s list of essays, you should immediately.
4. A FOCUS ON METRICS
3. BUILDING YOUR COMPANY WITH LEAN STARTUP PRINCIPLES
The Lean Startup movement is about the pursuit of reducing waste. The largest risk to a startup is that your intended customers won't care. There are a set of principles called ‘Customer Development’ that help speed up the search for a repeatable and scalable business model.
2. JUST FUCKING DO IT
The world is littered with very intelligent people with fantastic ideas. Entrepreneurs are separated by their ability to get things done with very few resources and under chaotic conditions.
1. TECHNICAL IN NATURE
Either as software developers or user experience designers or some aspect of product development. If things don’t go your way immediately, which likely they wont, then the company needs the ability to keep moving forward with very little money. As Winston Churchill once said: “Success is the ability to go from one failure to another with no loss of enthusiasm.”
See which markets we focus on >
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