How do I apply? Do I need to submit a business plan?
Simply fill out the Israel 2013 form for companies. No business plan required!
If you want to apply as an individual, please use the individual application.
What is the Application deadline?
See our Schedules page.
What criteria will you use to decide which companies to invite?
As we review applications we are going to focus on the following questions:
- How BIG is the idea?
- How big is the market opportunity?
- Can you complete a prototype, beta or market-ready product within 3 months?
- Is the team comprised of bright, capable, enthusiastic people with whom we can work?
How is DreamIt different from Angel Investors and VC firms?
Most other funding sources have been moving upstream, looking for companies that have at least a beta/prototype, a business plan, and some structured idea where they are going. We are looking to become involved earlier then that. We are looking for great ideas and great people and will help develop great companies around them.
Does it have to be a web, software or IT idea?
No. We are interested in any idea that can be developed into a product in three months. While we anticipate that most of these ideas will be web, software and/or IT, we hope also to receive applications in physical sciences, medical devices and anything else where a product can be developed in three months.
How much will DreamIt invest in each company? What percentage of equity will DreamIt receive in return?
We offer each selected company a stipend between $11,250 and $30,000 ($5,000 plus $6,250 for each founding team member (up to four) who will be onsite for the program). In addition, each company will receive valuable service and counsel from top attorneys, accounting firms, and priceless guidance from mentors, advisors and other participants at no charge. In return, DreamIt will receive an 8% passive equity stake in your company.
Can a person apply by himself/herself?
Yes, although we are more likely to accept company proposals from small teams. If we really like your idea and you apply by yourself, we may recommend other people to you who can join your team. However, your chances are best if you apply with a great idea and a great team.
Alternatively, if you don’t have a company or an idea, but have exceptional technical, design, or business skills you can apply for our Hacker or Strategist tracks. Many of our companies are looking for people to round out their teams. Students interested in internships should also use this application. See Applying as an Individual.
Can I submit more than one application?
Yes, if you have more than one idea. Please do not submit more than one application for the same idea.
What services will DreamIt provide?
Business talent, service providers, mentoring, office space, guidance from leading visionaries, seasoned entrepreneurs and investors, introductions to great business people, and networking to help you get to the next level. With the exception of direct, out-of-pocket expenses (such as software licenses and corporate filing fees), these services are provided at no cost to you. Click here for more information about the program.
Where do I live and work during DreamIt?
We require that all funded team members live in the area (Israel and New York) during the duration of the program. You choose where to live, although we will help you find some good options. You choose where to work — be it a coffee shop, a museum, the ballpark, or the office space and common space that we will have available for you. However, we do ask that you come into the office for our Speaker Series, Managing Partner meetings, and other team events.
What if I need more money to launch my company?
A key component of DreamIt is Demo Day. On Demo Day, you present your product and company to a room packed with VCs, angel investors, private investors and other public and private funding sources. During DreamIt, you will work with a mentor and the DreamIt to help you create and refine your pitch.
Will I get additional funding at Demo Day?
If you need it, this is the place to make your ask. We hope that the presenting companies get funded at Demo Day, but that will depend on how good your idea is, how much progress you have made, how impressive you are, and whether there is a fit with a particular investor or group.
We will help you create and refine your presentation, elevator pitch, and other materials – to the extent that you want our help. The event is attended by a large variety of early stage investors and other funding sources. We can get them into the room, the rest is up to you.
In addition to Mentors and advisors I see you are accepting applications from Strategists and Hackers. Will I work with one of them?
We are accepting applications from top strategists and hackers (Apply as an Individual ) to help you build out either the business or technical sides of your team. If you need resources for your company, we can introduce you to people who we think might be a fit. Ultimately, it’s your company and you will decide if you want to add one of these people to your team.
What is expected of me?
We want you to stay focused and work hard to build your prototype or market-ready product. We also hope that you will be open to our ideas and suggestions. Other then that, we want you to enjoy starting your company!
Why are you doing this?
The founders of DreamIt have all started, built, and successfully exited companies. We also are experienced early stage investors. We have seen capital moving upstream to more mature companies, while the cost of development is decreasing. This has created a gap in funding, resources, and guidance for great people with great ideas who would like to start a company. We want to fill that gap and help to bring great companies to life that otherwise might not make it.
Does it matter how old I am?
No (except that if you are under 18 you will need parental permission to participate). We care about your idea and your ability, but not your age.
Mozart started composing music when he was 4 years old. Shirley Temple was the top-grossing box-office star for four years before she turned 10. Joe Nuxhall pitched in the major leagues when he was 15, and Tara Lapinski won the Olympic Gold Medal at 15. Einstein published E = mc2 when he was 26. Jonas Salk developed the polio vaccine in his late 30s. Picasso was 56 when he painted Guernica, and 86 when the Chicago Picasso was unveiled.
While we expect that most of our applicants will be between 18-30, great ideas happen at every age.
Does it matter where I am from?
We do not care where you are from as long as you can live legally in the city of the program during the three-month cycle.
Will I sign a Non-Disclosure Agreement?
No. We simply see too many ideas and too many companies to sign an NDA. While the more explicit you are about your idea the better we will be able to evaluate it, send us only as much information as you are comfortable disclosing.
If you are selected for DreamIt, top lawyers will counsel you about how best to protect your intellectual property (among other things).