Company Selection Process
Each semester we search for energized entrepreneurs who are ready to make the time commitment to InSITE and are looking to raise funding through angel investors and/or venture capitalists. Nine to ten companies are invited to present their businesses and a proposal of the work requested of InSITE. Of these, five to six will be selected for InSITE to work with.
Each semester, the VP of Companies pre-screens all applicants based on the following criteria:
- Is this company based in New York City? Due to the nature of our services, we must meet face-to-face with the entrepreneur on a weekly basis.
- Is this entrepreneur committed to attending all five team sessions and the pitch event? Team sessions occur weekly on Wednesday nights, from 6:30 to 9pm. Since InSITE teams are composed of students from four different graduate programs, it is not possible to reschedule any team meetings. Please refer to our calendar for the most up to date schedule.
- Is this company a likely candidate for venture capital financing? This is our focus and specialty. While VC funding is often the best choice for companies poised for extremely rapid growth, many promising start ups are often better served with other forms of financing.
- Is this company at the right stage for InSITE to add value? InSITE is most able to add value to companies that are actively seeking, or preparing to seek, their first significant angel or venture capital investment round. Companies that have already received several rounds of funding or are not looking for funding in the next six months are not a good fit.
- Is this company likely to become successful with the help of InSITE?
Nine to ten pre-screened companies are invited to pitch to the entire membership of InSITE Fellows. Based on the presentations and executive summaries, the InSITE Fellows choose five to six companies to work with. Companies are selected based on the criteria outlined above as well as by the level of interest that the students show in the company, what sort of advice the companies are looking for, and whether the students feel they will be able to provide value to the company.
How To Apply
To apply, please email the following items to
company_app@insiteny.org:
- One page executive summary.
- Powerpoint slides presenting the company (as it would be presented to potential investors), explaining what specific work you would like InSITE to help with, and describing why your company and InSITE are a good fit. Generally, presentations should cover topics described in this outline: New York Angels presentation guidelines.
- A note indicating that you have reviewed the schedule for the next semester and are committed to attending every team session and the final pitch event.
Once your application has been received, the VP of Companies or a member of the Company Selection Committee will contact you to discuss your company in more detail and to answer any questions you may have.
Please note that all of the InSITE fellows sign an NDA with InSITE guaranteeing non-disclosure of information regarding any of the companies that InSITE reviews or works with.
The application deadline for Fall '08 semester is Thursday, September 4, 2008 at 7:00pm.
