Inara AI recently received a response to our program application from an accelerator. While the response was something of a “form letter,” it did include some information on a possible reason why we weren’t selected (they also stated that only 2% of applicants get into their program). This list is probably representative of the basic criteria that a lot of accelerators apply in their review of applications, but shouldn’t be construed as being complete. The process is run by humans, after all (at least until AI takes over).

Here’s what they said:

The most common reasons that we elect not to move forward with a company are as follows:

1) The company is at too early of a stage to receive the value through our program

2) Lack of focus on the problem the business is solving

3) Difficult to scale effectively

4) Too much competition

5) Unclear value proposition

6) Lack of differentiation

7) Lack of IP to protect the company from competitors

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