[dapole]

Are they? I feel like this goes against most of what startups and VC funding and incubators like YC are about. Judging people based on the strength of their ideas and what they have accomplished so far instead of pedigree.

[snoonan]

I definitely see your point! It seems to be designed to address part of it, however. Raising $500k first would seem to suggest the business has merit on its own. I'm sure it's more nuanced than that in practice, though...