Applications closed – what happens next?
April 5th, 2009 by Joshua Baer
First of all, THANK YOU to the hundreds of entrepreneurs who took the time submit an application for the 2009 Capital Factory program. Our goal was 100 applications and you've surpassed that by many times. We're very impressed by the enthusiastic response from all of the incredible entrepreneurs we have met over the past few weeks.
The 20 mentors have already had multiple meetings and have been reviewing applications all weekend. It's already obvious that there will be many more companies that we want to work with than that we will be able to work with. I guess that's a good problem to have, but it's going to be hard to say no. We're going to do everything in our power to make sure that even the companies who are not selected for the program can still benefit from the program.
So what's next? First we narrow down the list by eliminating companies who don't meet the basic qualifications. Then we will identify a shorter list of the companies that we think we can help the most and ask some more questions by email. Finally we'll interview companies over the phone and in person.
We're still shooting for April 15th to announce the winners. The unexpected surge of applications at the end may push it out a few days but we're not sure just yet. Watch this blog and follow us on Twitter to find out about any changes.