What does it take to get a tech startup funded? Inside the competitive selection process for one incubator in New York City:

The date is January 24, one day after applications were due for TechStars, a three-month mentorship program that is part boot camp, part investment fund. Some 1,480 young companies have filled out a questionnaire and recorded two short videos for the chance to compete for just 14 spots. That works out to an acceptance rate of less than 1 percent. ‘Look to your right; look to your left,’ Tisch said at a recruiting event in early January, modifying the Harvard Law School warning to first-year students. ‘Probably none of you will get in here.’

“Future TechStars, Step Forward.” — Max Chafkin, Inc. magazine

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