12 Jun 2017

Before you apply to BGV check out these hints and tips

By Matthew

Applications for our Autumn 2017 accelerator programme close on Sunday (the 18th of June, at 23:59pm), so we thought it a good time to give you a few hints and tips about our selection process.

We want our applicants to know what we are looking for in ventures and, importantly, we definitely don’t want founders tearing their hair out while applying. Hopefully the application process is not overly arduous (do let us know if you think otherwise) and that this blog post will provide you with some useful tips.

Tips for your application

Lead with the problem. We are looking for founders who are passionate about tackling the problem they wish to solve. Let us know who is impacted and the scale of the problem. Make sure you clearly define the problem, it shows you have a good understanding.
Keep it jargon free. You may be an expert in the area your venture works in, but don’t assume we are! We have a great group of alumni, funders and partners that help to read the applications – make it easy for them to understand what you’re doing.
Be honest. We don’t expect teams to have all the answers yet. Be honest about where the gaps are in your team and areas of your business which require more work. Doing so shows that you have really thought through your business. But please do still highlight your successes.
Be concise. We get around 200 applications, so that’s a lot of reading. The best applications are short and concise and get to the point quickly.

What are we looking for

A great team. We want to know why you’re the best team to do this. We have supported a few sole founders in the past, but only in exceptional circumstances. Having the right team around you will be key to your overall success.
Impact tied to business model. As your venture has an increasingly positive impact will revenues increase?
Technology. Do you have an innovative solution to your problem that technology either facilitates or allows to scale at an exponential rate.
Ambition. Can your solution scale to positively impact millions of people?

You can find the application form here. Applications can be edited up until the deadline even if they have already been submitted.

What happens next

We will let everyone know the outcome of their online application by Friday July 7th. Unfortunately we can’t give feedback to the ventures not successful at this stage. For the teams that we take forward, there will be interviews that take will place between July 18th and July 21st.

We are looking forward to reviewing your application. If you have any questions, please get in touch at matthew@bethnalgreenventures.com. Good luck!