Originally posted on VentureBeat:
Notable startup incubator 500 Startups is launching its first application process today through AngelList.
500 Startups is an early-stage seed fund and incubator program that’s become a brand name over the last few years. The group invests $25,000 to $250,000 in primarily consumer and small-to-medium-size Internet startups as well as startups related to web infrastructure services. But until now, companies needed a recommendation from a 500 Startups partner to join the program.
“We realized we were missing out on a lot of potentially good startups that weren’t connected to the Valley,” 500 Startups founding partner Dave McClure told VentureBeat in an interview.
McClure said the accelerator program previously avoided an application process because of the hassle associated with sorting through to get the good candidates. However, he said using AngelList in addition to its own network of founders and mentors should fix that problem. He expects about 500 startups to…
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