FAQ

Got Questions?

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Who's eligible to compete?

To compete at Crossroads, your startup needs to be based in Indiana (that is, have a headquarters here, or 50% of your employees live here). Your TAM (total addressable market) should be at least $500 million, and you should be early-stage, with ARR (annual recurring revenue) of less than $250,000 a year.

The finals are held live at The Mill, so please be ready to travel to Bloomington on October 12 to present–just in case! We’ll hold the finals later in the day to allow for travel time, and we’ll set up a green room where travelers can relax and leave their stuff.

What does it mean to win investment from Flywheel?

The pre-seed winner and the seed winner will get investments of $10,000 and $20,000 from Flywheel Fund, respectively. You get a check and access to an incredible network of experts, investors, and mentors. In return, Flywheel Fund gets a small stake in your startup. 

If you make it to the semifinals, we’ll ask you for more information and help you prepare for investment. 

Will the event be live or over Zoom?

Round 1 will take place asynchronously, using the pitch videos uploaded with your application.

The semi-finals will be held live over Zoom. 

The finals will be held live at The Mill in Bloomington, Indiana. 

What do you mean by "pre-seed" and "seed"?

We created these tracks to level the playing field, so that the newest startups aren’t competing against veterans. If you already have a product and customers, or an MVP (minimum viable product), apply to the seed track. If you don’t have a product or MVP yet, apply to the pre-seed track. We’ll check all the entries and let you know if we think your startup belongs in a different track than the one you select.

Do I have to pre-register?

Nope! You can just apply. But if you want to make sure that you don’t forget to apply by the deadline, go ahead and pre-register. We’ll email you a reminder a few days before the deadline. 

What are VCI tax credits?

VCI tax credits make your startup more appealing to Indiana investors. If you win Crossroads, Flywheel Fund will ask you to complete some paperwork to make that possible.

Getting set up for VCI tax credits is free and just takes a couple steps. First, create an Access Indiana account with the IEDC. Once you have that, you’ll be able to apply to become a Qualified Indiana Business through the IEDC portal. They’ll send you a letter to confirm your application, then you’ll fill out one more form. 

Hey, you’re not getting discouraged by paperwork, are you?! Because your startup is awesome, and people are going to want to invest. YOU CAN DO THIS. We’ll help.