In 2023, Andreessen Horowitz launched the Speedrun program, which has gained significant attention in the tech startup landscape. With an acceptance rate below 1%, the program has seen over 19,000 startups pitch for a spot, but only a fraction, less than 0.4%, have been selected for the current cohort. Operating out of San Francisco, this accelerator runs for approximately 12 weeks and focuses on early-stage startups from various sectors.
Each cohort typically accepts between 50 to 70 startups, with each receiving up to $1 million in investment. The initial funding of $500,000 comes in exchange for 10% equity through a SAFE note, with additional funding contingent on future investment rounds. This model is generally considered more "equity expensive" than other accelerators like Y Combinator, which offers lesser amounts for a smaller equity stake.
Founders benefit from extensive resources, including access to a16z’s advisory networks and valuable credits from vendors such as AWS and Nvidia. Although applications for the next cohort open in April, the program maintains a continual review of off-season applications. The current cohort, which started in January, will culminate in a Demo Day in April.