Our application tips
BFG’s acceptance rate was below 1% for the last cohort. As you will be competing with hundreds of driven and knowledgeable individuals, feel free to review our recommendations on how to stand out and leave an impression on us.
Follow these principles and tips to increase your chances of being accepted
We know that we are asking for quite a lot in our application, but being committed early on shows us you are the type of person that tackles all their projects with 100% focus, leaving nothing to chance.
It is this type of dedication and professionalism we seek in founders. We will see very fast if you were not fully devoted to making your application as good as possible.
Throughout your incubation process, you will be engaging in plenty of outreach activities via LinkedIn and email. Accordingly, we advise you to make sure your LinkedIn profile is on point and to have concise, professional wording when messaging others.
Both in answering questions as well as the 1-minute video we ask you to record, it is best to be as concise as possible. While we get that most Web3 funders want to “decentralize” and “give back” to the users, we advise you to be more specific. You do not need to explain to us the ethos of Web3.
Try identifying the aspects that actually make you stand out from other applicants, ideas, or start-ups, and communicate clearly what you would consider your USPs. Bear in mind that, according to the Pareto law, 20% of input lead to 80% of the output. Be sure of what that 20% are both when answering questions and introducing yourself and/or your idea.
If you feel annoyed just by going through the application, this program is most likely not suitable for you. That is okay, just be frank with yourself. Also, if you cannot devote at least 20 hours/week to the program, you will be unlikely to succeed.
While we appreciate you already having contemplated specific Web3 start-up ideas, we do not want you to be too fixated on one specific idea. Oftentimes, through setting you up with potential teammates, and having our advisors hold workshops on various topics, we see ideas change and adapt.
It can take a bunch of pivots until you actually find the right idea. Hence, we invest in individuals first, and ideas second. That is, do not love your idea too much. If you have the right motivation, the right team, and conduct extensive research trying to identify market pain points, the idea will usually follow.
What we usually observe in our program is that there is a spectrum between technical, introverted applicants, and more communicative, management-oriented applicants. Know where you fit into that spectrum. It is key to know your strengths and weaknesses when forming a team so that team members have supplementary skillsets.
Show us that you are one to put in the extra effort, "going the last mile" for your startup. Consider sharing past achievements and examples to impress us and show that you are willing to go the last mile to achieve your ultimate goals. Have a look here to see how other successful founders went the last mile.
You want to become a web3 founder?
Apply for €70k in funding for your future web3 startup!
You have a team and an MVP?
Apply for €100k in funding to accelerate your web3 startup!