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doddavenkatappa on Oct 29, 2014 | parent | context | favorite | on: We Make Mistakes

We too got the rejection letter. But it is perfectly understandable in our case as we are really in the early stages, without a prototype.

Any thoughts on how much a prototype and full-time commitment from all founders matter?

wellboy on Oct 29, 2014 [–]

If you haven't sold a previous company before, you need to have strong traction (at least 5,000 users or $5,000 revenue within the last 6 months), otherwise you don't have a chance really.

Also, you need to have a full-time commitment, otherwise they won't give you $120,000 if that makes sense.

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