Welcome to your Microtraction application
Please try to make your responses clear and short; expressing what needs to be said without unnecessary words.

You can also answer the questions in the Google Doc linked below and come back here to paste in your answers when you are done.

http://bit.ly/2vDttXT

From the Microtraction team, Good Luck!
start
 
OVERVIEW

 
What is the name of your startup/project? *

 
What's your one line pitch? *

Write a single sentence description of what your company does e.g. Stripe is a suite of APIs that powers commerce for businesses of all sizes.
 
What is the link to your product? *

If you only have a demo please provide the URL for the demo or a video of the demo.If it is an app only, please provide a link to download your app
 
Which category best applies to your company? *


 
Where are you based? *

State, Country
 
TEAM

Teams typically have 1 to 3 co-founders. Please list the main contact first, your main contact will be the person Microtraction will be corresponding with during the application process
 
How many founders are there? *


 
How many founders are technical? i.e. write code *

i.e. currently write code and build the startup's app/website

 
Co-founder 1: Name *

Firstname Lastname
 
Co-founder 1: Please write a short 3-4 sentence bio of your profile. *

e.g. Richard Hendriks is the Co-founder and CEO of Pied Piper. Formerly worked as a backend developer for Hooli. Has a degree in Computer science from Stanford and a background in machine learning"
 
Co-founder 1: Describe achievements of yours that you think are particularly exceptional *

Please don't be modest :)
 
Co-founder 2: Name

Firstname Lastname
 
Co-founder 2: Please write a short 3-4 sentence bio of your profile.

e.g. Richard Hendriks is the Co-founder and CEO of Pied Piper. Formerly worked as a backend developer for Hooli. Has a degree in Computer science from Stanford and a background in machine learning"
 
Co-founder 2: Describe achievements of yours that you think are particularly exceptional

Please don't be modest :)
 
Co-founder 3: Name

Firstname Lastname
 
Co-founder 3: Please write a short 3-4 sentence bio of your profile.

e.g. Richard Hendriks is the Co-founder and CEO of Pied Piper. Formerly worked as a backend developer for Hooli. Has a degree in Computer science from Stanford and a background in machine learning"
 
Co-founder 3: Describe achievements of yours that you think are particularly exceptional

Please don't be modest :)
 
How long have the founders known each other (professionally or personally)? *


 
What is the total number of projects or startups that the founding team have been involved with in the past? *


 
Describe, in one sentence each, any startups any of you have started before. If they failed, why? (We consider failed companies valuable experience too.) *

 
How is equity split between the founders? *

 
MARKET

 
What is your Total Addressable Market (TAM)? *

TAM is the annual amount that consumers spend worldwide on your product or service category

 
Calculate the size of the market you are in? *

Do a bottom-up approach instead of a top-down approach. Let’s take a team communication SaaS company for example:

Top-Down: team communication SaaS startup is worth $10B and $1B is spent on communication SaaS. Therefore $1B is attainable within my market.

Bottom-Up: We charge $20 per annum per employee. There are 200 million people that work in offices in Africa. Therefore my market is $20 x 200 million = $4 Billion
 
What does the market currently look like today and how do people currently solve this problem? *


 
Who are your competitors, and who might become competitors? Who do you fear most? How do you beat them *

 
PRODUCT

 
Describe the problem you are solving in 3-4 sentences

Why is this a "painkiller" not a "vitamin"
 
Describe your solution & product in 3-4 sentences

 
How is your product different from existing solutions? Why is it better than other products or work around your customer currently does? *

 
Do you have an unfair advantage or a unique insight into your market/customers?  Some idea or knowledge that most other people don't know? *

 
Why are you the best team to solve this problem?

 
TRACTION

 
When did you start working on this? *


 
What stage are you at in your product development cycle? *


 
How long did it take to build the first version of your product? *


 
How do you currently/will you acquire users or paying customers? *

If your idea is a marketplace that requires supply and demand such that it won't be attractive to users till it has a lot of users, how will you overcome this?
 
How often do customers use your product? *


 
How many users do you have? *


 
What percent of customers are still active after a month? *

Express as a percentage e.g. 30%
 
How fast are your users growing week-on-week? *

Express as a percentage e.g. 3%
 
What percentage of your growth is organic? (i.e. not acquired by any form of paid marketing) *

Express as a percentage e.g. 60%
 
What other metrics do you track? Where are they at currently? What is it’s growth rate week-on-week?

or month-on-month
 
FINANCIALS

 
How do you make money? What's your business model

 
What does your average monthly revenue look like? *


 
How fast is your revenue growing month-on-month? *

Express as a percentage e.g. 3%, if pre-revenue put N/A
 
What is your current burn rate? How much are your current expenses on average per month? *


 
How would you spend $15,000 over the next couple of months? *

 
OTHER

 
If you don't get funded by Microtraction - what do you plan to do next? *

 
How did you hear about Microtraction? *

 
What convinced you to apply to Microtraction? *

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