We often joke that we wish we could have started working with a company before the batch started.
It's helpful even having just one office hour with them figure out what the 3 to 5 metrics to optimize for should be, set weekly targets for those metrics and prioritize a list of 2 to 3 things they should work on for the next few weeks. That's basically what happens during the first 2 to 3 weeks of the batch. Imagine how much progress companies could make if we did that setup before the batch started?
As is often the case with good ideas, the last time someone made this joke, someone responded with “Wait, why don’t we do that?” Nobody had a good reason. So we're going to try it.
How it Works
- Apply by Friday, 3 May – Apply to Iterative by the end of the day on Friday, 3 May. We've extended the deadline! There's a deadline for 2 reasons. First, there needs to be sufficient time before the batch for this to be useful. Secondly, it creates a bounded experiment so we can see if it's something people are interested in and is helpful.
- Accepted to Iterative – After you apply, you will go through our normal admissions process which typically takes 2 weeks if you make it all the way through. It consists of two 30 minute phone calls with someone on our team and either Brian or Hsu Ken. If you're accepted, we will make the investment (ie. transfer you the $) immediately upon acceptance. We don't wait for the batch to start to make the investment. For more information about the process see this.
- Office Hours with Hsu Ken – After we've made the investment, Hsu Ken will reach out to setup office hours with you. The goal of the office hour is to get you setup to grow 5% to 7% weekly like we do during the batch. That means agreeing on 3 to 5 metrics, setting weekly targets for them and prioritizing a list of 2 to 3 things you can do to hit those goals.
This will give you a head start on the upcoming batch (starts 17 July 2024) but more importantly, doesn't waste any time getting you on the fastest path to growth.
Apply to S24 by Friday, 3 May 2024.
FAQ
If I'm accepted, when will the $ be transferred?
Immediately after the paperwork has been signed. We do not wait for the batch to start to make the investment (ie. transfer you our $).
I've already applied. Do I need to apply again?
No. To make things simpler for everyone, we're including any applications that came before the deadline even if you weren't aware of this initiative.
What happens if I miss the deadline?
If you're interested in doing pre-batch office hours, I highly recommend you apply before the deadline. If you apply after the deadline, you'll of course still be considered for Iterative but won't be part of the pre-batch office hours program.
How much does Iterative invest?
We invest between US $150K and US $500K on a post-money SAFE. For more information see this.
What kind of companies does Iterative invest in?
We invest in technology focused startups in Southeast Asia. To give you a sense of what types of companies those are, you can see a list of companies we've invested in here.
