"Launched in 2023, the accelerator has an acceptance rate of less than 1%. In a January blog post, the program said that over 19,000 startups pitched and fewer than 0.4% were accepted into the latest cohort. The program used to focus on gaming startups, then expanded into entertainment and media, and is now a "horizontal program," Joshua Lu, the program's general manager and a partner at a16z, told TechCrunch."
"The program invests up to $1 million into each company, though the downside is that it's a bit pricey. It typically invests $500,000 up front in exchange for 10% of the startup's company via a SAFE note, and another $500,000 if the next round is raised within 18 months, at whatever terms agreed to by the other investors. In comparison, Y Combinator typically takes a fixed 7% of the company for $125,000, with another $375,000 "invested on an uncapped MFN safe.""
Speedrun launched in 2023 and accepts fewer than 1% of applicants, with over 19,000 startups pitching and under 0.4% accepted into the latest cohort. The program evolved from gaming into entertainment and media and now operates as a horizontal program open to any startup. It runs about 12 weeks in San Francisco, twice per year, accepting roughly 50–70 startups per cohort. Speedrun typically invests $500,000 up front for 10% via a SAFE and can invest another $500,000 if the next round closes within 18 months. The program provides a16z advisory and business networks for go-to-market, brand, media strategy, and talent sourcing, and offers up to $5 million in vendor credits.
Read at TechCrunch
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