5 ways to know you’re a fit to Fab
TL;DR - If you’re crushing it, come talk to us.
Orange Fab is focused on later stage startups and here are some of the key things we look for in startups that apply to the program. Here are 5 things you should think about when you apply to Orange Fab:
1. Fundraising - Have you raised 500K+ or more?
Why does 500K make so much sense? This is a helpful article about valuations, how much money to raise, and financial timelines. There are tons of successful bootstrapped companies out there. So if funding is not your thing - keep reading to see what other qualities make your application shine.
2. Do you do over 500k a year in revenue?
Rev it up! Orange Fab startup selection ninjas are looking for startups that bring in the dough. 500k in revenue is a great start to getting on track for success. And..you ask..where did we come up with this number? 500k is a typical indicator of startups who have found at least some product market fit. Carlos Eduardo Espinal from SeedCamp breaks down why this benchmark is both valuable for you, as a startup, and your investors.
3. Are you profitable?
Profit = <3. During our careful review, startups who write checks dat bank can cash always find their way to the top. Funny how that works. It's true, some of the most popular and high profile startups are still figuring this out. However; if you’re profitable right now, the work we do with our corporate partners can help you scale that profit.
4. Are you a top accelerator graduate?
Top accelerators like Y Combinator, 500 Startups, and Techstars offer incredible investment, mentoring and networking opportunities. If Sam Altman or Dave McClure believe in you - then you’re already ahead of the pack and we want to see more. We follow the top accelerators alumni networks very closely and recruit graduates on the daily. They are not for everyone, but make sure to mention any accelerators in your application.
5. Do you have more more than 100k Monthly Active Users?
Do your customers love your product? These two things go hand in hand. Engaged users are happy users and happy users are active users. Here’s some quick math:
Engaged Users = Active Users = Sustainable Growth.
Don’t be a one hit wonder. We want startups who have loyal users that love your product as much as we do. If you’ve made it this far, you already know that our corproate partners can bring the distribution. Is your product ready? Is your app sticky? The first 100k users can tell you a lot about what you’re doing right and what may not be going so well.
We just unlocked Season 8 Early Bird Applications so Apply Now before everyone else.