How to get into the a16z speedrun startup accelerator program

Without a doubt, one of the most innovative startups in technology right now is Andreessen Horowitz’s Speedrun program. Launched in 2023, the supplement has an acceptable rate of less than 1%. In a January blog post, The program reported that more than 19,000 startups were launched and less than 0.4% were accepted in the latest batch.

The app was originally focused on gaming, then expanded into entertainment and media, and is now a “horizontal app,” Joshua Lu, general manager of the app and a partner at a16z, told TechCrunch. Today, startups of any kind can apply, and the program lasts about 12 weeks in San Francisco. It had a program in Los Angeles, but Lu said the focus will be on SF from now on.

There are two batches per year, and 50 to 70 applicants are accepted into each. Program invest up to $1 million in any company, even the disadvantage is that they are expensive. It is putting up $500,000 up front to sell 10% of the startup through a SAFE note, and another $500,000 if the next round is raised within 18 months, according to sources familiar with the matter.

In comparison, Y Combinator it is usually based on a fixed 7% of the company $125,000, and another $375,000 “for sales on non-reserved MFN securities.”

Speedrun said its program is “very affordable” for what it offers to startups. It gives them access to a16z consulting and business networks that help with tasks such as go-to-market, brand development, media strategy, and talent acquisition. In addition, it provides startups with as much as $5 million in credits to vendors such as AWS, OpenAI, Nvidia, and Deel.

Due to high interest rates, and low approval ratings, TechCrunch spoke with Lu to get his tips on how startups can look their best. The latest batch started in January and will end in April with Demo Day. Programs a the next batch will open in April, though it focuses on part-time jobs throughout the year, Lu said.

Look at the trigger group

Speedrun focuses on the basics. Because of this, they also evaluate who is on the startup team and whether their skills are compatible, Lu said.

“This does not mean that one has to be an artist and one has to be an entrepreneur and one has to be a marketer,” Lu said. It means that “we prefer not to see any positive aspects of activities or interests. We want the founding team to be aware of this and to make this part of the hiring process.”

They also like to see groups that have worked together or shared a history.

“There are a lot of things that a startup team needs to look at in their startup journey and having a little bit of experience, being able to work with each other, knowing how to disagree and how to come out on the other side of that disagreement, these are all things that people in startup groups who have a shared history have an easier time with, for the most part,” he continued.

Although AI has lowered the barriers to software development, it’s still very helpful for the startup team to be more creative, Lu said. At the same time, because AI has been very quick to build and prove hypotheses and find products out there, Lu said the Speedrun team likes to see when startups already have a little market validation or traction for their products.

“Speedrun as a program is great for helping teams add fuel to the fire or fire,” he said. “We’re looking for teams that have tried to make it and try to show us that there’s a little fire that we can light.”

Minimize the “sense” of the market

Lu said one mistake that founders often make is spending too much energy talking about market theory or why there is a well-known problem and why their solution is right. “All of this could be true,” he said.

At the same time, he added, even the biggest, most successful tech companies have hit unexpected roadblocks at a young age, sometimes completely floundering. What a company thinks it will build in the beginning is not what will make it successful in the end.

“What we want to hear is why this startup team is so good together,” he continued, “why it’s a great startup team, the best team that can tackle this challenge.” And then on top of that, any confirmation on the idea itself.

It’s great to use AI in applications, but…

Lu said the program encourages every startup to use AI to “clean up” their work. He said that now there is no excuse for grammatical errors or poor spelling due to the development of AI tools. He said AI can help startups organize their ideas, making them clearer, more concise, and more coherent.

But if AI does all the work in explaining the basics, this could backfire. If the initiator reaches the next stage, it will be a video interview. “There, their ability to explain clearly will be tested,” he said. So startups should be ready to talk kindly about their startup without the help of AI.

Only about 10% of startups make it to the video call stage. There are usually two or three investors on the judging panel at the same time.

After the live interview, the team usually makes several phone calls with the founders, and then the final decision of the team is made.

Be greedy to network

There are, of course, other startup programs to choose from. Lu said Speedrun itself was inspired by other apps.

However, he said, this supplement prides itself on giving startups access to a large, unique community. In fact, he said that the best groups that benefit the most from this program are those who are “interested in gaining exposure to the amazing people and programs” Speedrun has to offer.

Lu listed a few facts: a16z has about 600 people, and 10% of the workers are in the financial sector, he said; everyone else is a user who supports the companies they work with. As a result, startups at Speedrun will have access to professionals who can help with marketing, banking, finance, management, and many other tasks. So it helps to know who the founders want to connect with and why.

“We tell startups that come through the program, what you get out of Speedrun is what you put into it,” he said. “We think startups that want to take advantage of world-class experts in various fields early in their startup journey would be wise to choose us.”

Advice from the developer of the program

Founder Mohamed Mohamed, who is in the latest batch, we just announced a $5 million raise by launching its Smart Bricks line inspired by a16z’s Speedrun. He was drawn to the program because he said it was recognized as one of the few “designed for co-founders working on the frontiers of AI,” and he chose it because he wanted a program that would allow him to “test the technology vision.”

Mohamed said he took the program as an internal memo and not a statement. “Instead of glossing over words, we focused on clarity – the real problem, why it’s so strong, and why our team is well-positioned to solve it,” he said. “We were very clear about what was working, what wasn’t working, and where we needed help. I think being honest and clearly explaining why the problem is important” was what helped the company in the application process.

He described the entire process as “rigorous but refreshingly thoughtful,” and said it was designed to understand how founders think, not what they’ve built so far. “The discussion went deep into system architecture, data strategy, and long-term ambition. It felt closer to a panel discussion than a long-term interview, which was a strong signal for us,” he said.

All his advice is to be “honest and accurate.” For example, he said in his speech that he avoided “too much optimization” because he wanted to attract attention to his company. He said: “If you’re not clear, you’re coming off, or you’re holding back your opinion, it shows up quickly.”

Ultimately, “Speedrun isn’t looking for perfect companies; they’re looking for startups that can think clearly about complex problems and build with conviction,” he said. State the strong points of what you are doing and why it is worth dealing with.

To correct it, the news has affected YC’s revenue by 7%. It has been fixed.