In 2023, the Silicon Valley venture capital-firm Andreessen Horowitz (known as a16z) released a selective elite startup accelerator program called Speedrun. This program was popular from the start and soon became a dynamic onramp for new entrepreneurs. The program features an acceptance rate of under 1%. As such, it does not passively wait for all startups to come to it, as any municipality would be lucky to do. Speedrunning was born at the heart of a gaming subculture. These days, however, it has morphed into a vaguely defined “horizontal program” that stretches all the way to entertainment and media.
Joshua Lu, a partner at a16z and formerly CS at GGV Capital, leads Speedrun. This initiative provides selected startups with $100,000 in follow-on funding and other critical resources. The program provides participants with up to $5 million in credits through industry-leading vendors, including AWS, OpenAI, Nvidia and Deel. Speedrun invests up to $1 million in each participating company through a Simple Agreement for Future Equity (SAFE) note. This typically takes the form of a $500,000 initial investment, with a further $500,000 on offer if the company completes a subsequent round within 18 months.
Competitive Landscape and Application Process
Speedrun operates two cohorts per year. Each cohort brings in 50-70 startups to a rigorous 12 week program out of San Francisco. The application process is brutally competitive. More than 19,000 new startups pitched their most compelling ideas to get into the cutting-edge accelerator’s newest cohort, but less than 0.4% were able to earn acceptance.
We particularly encourage prospective applicants to use artificial intelligence tools to help sharpen or hone their applications. Joshua Lu emphasizes the importance of clear communication during the application process, stating, “At that point, their live narration explanation skills are going to be put to the test.” This reflects the program’s deep commitment to supporting ideas. It appreciates the ability of experienced founders to communicate their vision in a compelling way.
Founders who’ve been through the application process successfully recommend that one focus more on clarity than presentation. An unnamed founder noted, “If you’re vague, derivative, or overly defensive about your idea, it shows quickly. Don’t try to sound bigger than you are; clarity about where you actually are is far more compelling than inflated narratives.”
Focus on Founders and Team Dynamics
The core philosophy of Speedrun is finding great founding teams, not just great business models. Joshua Lu articulates this by stating, “What we really want to hear about is why this founding team is really good together… why they’re a great founding team, the best possible founding team to solve this particular problem.” This method is indicative of a growing trend towards emphasizing the importance of interpersonal dynamics and collaborative problem-solving in startup teams.
Moreover, applicants are expected to candidly disclose known challenges. Mohamed, a successful founder in the program, shared insights from his experience: “We were explicit about what was working, what wasn’t, and where we needed help. But I do believe that this kind of honesty, and clear articulation of why this problem needs to be solved.” This type of honesty creates a communal atmosphere in which true constructive criticism can flourish.
The program pushes founders to navigate the complexities of their idea, not being afraid to delve into the hard topics. An anonymous source highlighted this sentiment: “Articulate the hard parts of what you’re doing and why they’re worth tackling. Depth beats polish every time.” This ethos both better equips founders to demonstrate their awareness of the real world market landscape and empowers fruitful conversations between early-stage entrepreneurs and investors.
Program Structure and Outcomes
Speedrun is designed to maximize the financial support available to startups. It provides them with irreplaceable mentorship and networking opportunities. The capstone of the program is always Demo Day. Participants pitch their startups to an audience filled with thirsty investors and ambitious builders. This event is a key launchpad for our startups, many of whom are looking for follow-on funding.
We invite founders to treat the program, and OTE, as a partner in your active pursuit of change. An unnamed source emphasized the importance of dedication: “We tell founders that come through the program, what you get out of Speedrun is what you put into it.” This outlook drives home the point that effective engagement goes much deeper than just showing up to a few meetings.
What makes Speedrun different from other traditional accelerator programs is the depth of conversation. Mohamed remarked on the nature of these interactions: “The conversations went deep into product architecture, data strategy, and long-term ambition. It felt closer to a partner-level discussion than a typical accelerator interview, which was a strong signal for us.”