Secrets to getting accepted into 500 Startups

07/14/2015 | By Jerry Tan

This post originally appeared on blog.up.co


With an acceptance rate of a dismal 1 percent, getting into 500 Startups’ accelerator program is definitely not easy. To put that number into perspective, Stanford’s fall 2012 acceptance rate is a more encouraging 6.6 percent.

Now, to work on a bitcoin startup and get accepted into the prestigious accelerator program, that is even more challenging.

So how did CoinPip, a bitcoin wallet service and payment solution for merchants in Asia started in January 2014, get accepted into 500 Startups Batch 11?

[caption id="attachment_30016" align="alignnone" width="351"]coinpip-share CoinPip allows merchants and users to send money to anywhere in the world through blockchain technology.[/caption]

Back in 2010, the seeds of CoinPip were already planted when Ben Bernanke announced Quantitative Easing (QE) infinity. Anson Zeall, now founder of CoinPip, was then a successful hedge fund manager returning 35% P.A. for investors. He thought it was time for something else when he heard the news. A friend of his then introduced him to bitcoin and he jumped in.

[caption id="attachment_30017" align="alignnone" width="289"]Anson Zeall, co-founder of CoinPip Anson Zeall, co-founder of CoinPip[/caption]

Within a short span of 1 year, the company has expanded operations quickly into neighbouring countries – Indonesia, Taiwan, Hong Kong, Singapore, Philippines and even the USA. However, not all was easy and smooth sailing. In mid 2014, the company was running out of money. Around this time, a group of startups in Singapore, together with CoinPip, started the Association of Cryptocurrency Enterprises and Startups Singapore (ACCESS). This caught the attention of Sean Percival – venture partner at 500 Startups and the road to securing their seed funding began.

The first secret is – Do something big and bold to show your belief

This coming Friday, 17th July, Anson Zeall will be sharing with participants of Startup Weekend Asia-America in person, his personal story of overcoming all obstacles to finally building a company in the Bitcoin space that spans across countries in Asia and America.

See you there!

Startup Weekend Asia-America

San Francisco

July 17th-19th, 2015


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