April 2019

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 investment

Is 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

If our project is previously funded, can we still apply for the program with its spin-off project?

Yes, but only if the founder can spend most of time on the spin-off projects

Should I apply for the program?

What are the dates for the next batch?

The specific date is to be determined, and the confirmed time information is displayed here

2. We‘ve already been working on our startup for a while. Is MiraclePlus appropriate for us?

Yes. We've invested in many of these teams and we really like them

We‘ve already raised funding. Can we still apply?

Sure. Each Miracle batch has many companies who have already raised over $1M

We don't really need the money. Can we still apply?

At least half of the startups we fund don't need the money. In fact, funding is only a small part of what we do. It's more like financial aid in colleges for those in need to cover their living expenses during the program

What if our project requires a large capital investment?

We will still invest in you, but our goal is not to urge you develop a product in 3 months. We aim to build a more compelling model to raise more funding at a later stage

Do you only fund startups that write software?

No, we'll consider startups in any field

Can a single person apply for funding?

Yes. We regularly accept solo founders. That said, our advice remains that one-person startups are tough and you're more likely to succeed with a co-founder

I have a great idea for a startup, but I‘m not technical. Will you still fund me?

It's important for the founding team to have the skills to build their product themselves, rather than outsourcing it to someone else. For most businesses, that usually means you need a technical co-founder

Do we need to set up a company before applying for the program?


Can we apply more than once?

Yes. In a typical MiraclePlus batch, about half the companies applied multiple times before being accepted. If you've applied before and not gotten in, we strongly encourage you to apply again. Having made progress since your last application is a strong signal to us

Do we need to know someone at MiraclePlus to get in?

No. One of MiraclePlus's core principles is considering all applications equally. We don't rely on introductions the way many investors do

If we participated in another accelerator, can we do MiraclePlus?

Yes. We've had many companies join MiraclePlus after doing another accelerator. However, if you've done another accelerator already, we may expect that you've reached a higher level of progress

Late Applications

What are Late Applications?

Late applications are those submitted after the application deadlines (usually in mid-January or mid-July). If you submit an application after the deadline, your application is automatically tagged as “late”

Do you get penalized for submitting late applications?

No. Your application will be reviewed on the merits of its content and not on its timing. You lose out on i) responsiveness – it will take us longer to get back to you since we received your app outside of the dedicated time set aside for application processing, ii) coverage – fewer partners review late applications, which means there's a greater chance they'll miss your value prop, and iii) acceptance rate – late applications are generally competing for fewer slots, so it's harder to be accepted the later you apply

What happens when I submit a late application?

Late applications will be processed ad-hoc, based simply on the availability of the partners to read and review it. We review all late applications with the same criteria as on-time applications. The only difference is that it will take a little patience to get your results

When will I get a reply if I submit a late application?

While we do our best to process late applications as soon as we can, it depends on the availability of partners and the time they need to read and review the late applications. Partners are busy helping the startups we've funded, so it may take anywhere from a couple of days to several weeks before you'll get a reply

If you haven't heard from us, be patient. All that silence means is that we haven't reviewed your application yet. As soon as we do, we'll email you

How do we get our late application results?

We'll email you the results of our application review just like we do for on-time applications. You'll either receive an invitation to interview that contains details of our in-person meeting, or you'll get an email to say that we won't be interviewing you right now. If you aren't invited to interview, we hope that you don't get discouraged and that you continue with your pursuit to build something great

Do you give feedback on application results?

We provide brief feedback to all users who submit applications. As we have so many applications to process, we can only give a brief opinion on each project. After you receive the result of our review, you can check the feedback on the application page

When do you hold late applicant interviews?

It's impossible to provide a specific date. Sometimes late applicants and on-time applicants are scheduled to have interviews at the same time. We also hold interviews for late applicants before the batch starts, and you may also have an interview at this time

If your application really impresses us, we may also arrange you an interview after the completion of the current admissions. We cannot provide an exact date until we have actually reviewed your application (the same applies to on-time applicants)

Is there a deadline for submitting a late application?

There is no hard deadline. We'll keep allowing teams to submit late applications even when a batch has commenced. Again, the later you submit your application, the harder it is to get into the program

Can I submit a late application after an on-time one?

No, please don't do this. If you submit a late application after already having submitted one on-time for the same startup, your application will be flagged as suspicious and won't get reviewed by partners. Please refrain from doing this and wait for the next application cycle to submit a new application

I have a great reason for why my application is late - can you mark it as on time?

Sorry, no. But don't worry! Just get it in as soon as possible