Application Questions
What can MiraclePlus provide for founders?
How can we get funding from MiraclePlus?
Apply online for our next funding cycle. We provide two rounds of programs and funding for start-up companies every year
How much does MiraclePlus invest?
We invest USD300,000 (or RMB equivalent) in exchange for 7% of the company's equity. If your start-up is not in Mainland, China, then our investment can be made on SAFE (Simple Agreement for Future Equity). For projects that have already been funded, we can make it in line with the previous cycle of evaluation investmentIs a business plan (BP) needed for the application?
No. We make decisions to invest through application forms and interviews. If you have a demo, that's even better, but we don't ask for any business plan.Why doesn't MiraclePlues check the applicant's BP?
Most people may have experienced an in-class exam. In 45 minutes, with your books closed and mobile phone turned off, you only concentrate on answering a test paper. Then you wait for the review and score. Of course, if you couldn't answer some questions, you can already predict the test results
Applying for the MiraclePlus Accelerator is a similar experience. You have about 45 minutes to fill in a form. You don't have to provide a BP. After that, you might find that you don't have clear answers to some questions that the investors may ask. However, unlike the exam, there may be a prize for filling out this application form, which is funding and acceptance into the three-month program
Why does MiraclePlus review an application form instead of asking for a BP? Frankly speaking, it saves everyone's time
The application form includes the most core questions for early-stage startups, and it is based on our iterations over the past 15 years. Due to unequal information, investors know exactly what they want, but founders are not sure what they want. Founders don't need to spend time thinking about what investors want to see, nor do they need to modify PPT over and over again, or make pictures and charts, etc. For investors, they can find key information quickly and review applications efficiently
How do you ensure that each application will be reviewed seriously?
First, each application goes into the "pending review".
MiraclePlus Accelerator is held in spring and autumn every year, but you can apply for it all year round. (You can log in to the official website of MiraclePlus.) Applications submitted before the deadline will be scheduled for review and interview for the current batch. Applications submitted after the deadline will be reviewed for the next batch. The only difference, depending on the time of submission, is how long the applicant receives our feedback
Second, each application will be screened according to the standard process
Submitted applications enter into the review system that does not have a Conditional Filtering Function. This means that the MiraclePlus team or community members responsible for reviewing must read applications one by one and score them independently, without being able to set a preference to see what they want and avoid what they don't
Generally speaking, in the first round, applications will be scored independently by a few of MiraclePlus team members and community members, with a general pass rate of about 50%. In the second round, 3-6 MiraclePlus founding teams will score independently, with a pass rate of about 10%-20% of the total applications. Applicants then go to the interview, where they can get funding and access to the batch after passing the interview
Third, the information structure of the application form is simple, so you will not miss the highlights
We encourage you to fill out the application form with a simple sentence. Through this, you extract the key points of the business idea and it also allows investors to quickly get the gist. MiraclePlus's selection is based on the project's highlights, not flaws. Therefore, a 1-minute video with concise and structured information would be better. We can ensure that as long as the highlights are found, your application will enter the next round of review
Will you sign a Non-Disclosure Agreement (NDA)? How do you ensure that our business ideas will not be leaked?
We won't sign any Non-Disclosure Agreement (NDA). No venture capital firms will sign a confidentiality agreement at this stage. However, we have more informal commitments to confidentiality on our application forms than any other venture capital firms
Can we submit two applications for two business ideas?
It is not recommended. You should apply for the startup idea that you want to work on the most
Do I have to upload a video? Do you have any specific requirements? How to submit it?
Uploading a video is a must. You can take videos with your mobile phone or computer camera. The content of the video is similar to a casual chat with a friend. Please check this for the specifications of the shooting and uploading
How can I increase the chance of a successful application?
Please try to be as concise as possible when you present advantages and highlights of your project. Please submit your application as early as possible so it will give us enough time to review it. For other information, you can refer to this
Do you invest in various startups in the same field?
Yes. We invest in a wide range of startups. Though we avoid accepting competing companies, we’d end up with them anyway because startup ideas morph so much. So from early on, we made sure that if two MiraclePlus startups are working on related stuff, we don't talk to one about what the other's doing
In fact, companies with different product/service solutions can co-exist in the markets with great potential. Moreover, it is unlikely that two companies have exactly the same business
Why has my application been rejected?
It is difficult for us to give reasons for rejections, due to the limitation of ourselves. We hope you don't mind this. In fact, even the best investors often fail to pick the right startup. Generally speaking, it’s a satisfying result that 4 out of 10 companies invested in by a venture capital firm succeed
How can we tell if our application has been submitted successfully?
After you submit the application, we will send a confirmation text or email (if you filled in the email address during registration) with a copy of your application information. If you do not find this text message or email, please check the spam text and email. If you haven't found it yet, please make sure you fill in the correct phone number and email address in your application
If you still cannot find a confirmation text or email, it is likely that you have not submitted your application successfully. To submit your application, click on the "Edit Application" button on your account screen. The submit button is at the top of the application page
Can we attend the Accelerator without coming to Beijing?
Sorry, no. We've tried this before, but start-ups that didn't come were more likely to be way behind others on Demo Day. Therefore, all activities should be carried out face to face in Beijing. However, if your start-up is overseas, it's possible for you to join our batch online
All events will be held offline, unless there’s irresistible factor such as lockdown caused by Covid-19. When the epidemic was severe, we had an online program, but this is quite uncommon
Of course, you don't have to be in Beijing all the time. If your project requires you to go elsewhere, we will also make some adjustments to allow you to participate more fully in our program. Founding team members can also take turns coming to the batch, or going back and forth each week during the period
Certainly, after the three-month program, you are free to choose the city in which your company is based
Can non-founding partners join us if I attend the program?
We require that members of startups who come to the batch must have at least 5% of the companies' equity