Teams can be rejected at any stage in the process. On occasion, there are some obvious reasons such as:
- The application was incomplete or lacking detail.
- The application was for a business we, as a part of a university, cannot support such as gambling, fire arms, illicit substances, etc.
- We do not believe you can meet our program requirements.
- We do not believe we have the required experience or resources to help you.
- We have another team located in our space that would be competitive with you (we usually check with one or both companies)
- We would like to see more proof that your business is tackling a large enough problem (continue validating this and apply again in the future!)
- We would like to see more proof that your ideal customer would purchase your solution (continue validating this and apply again in the future!)
- We do not understand what your unique insights are that will allow you to succeed where others would fail (apply again after engaging with more potential customers and others from your industry)
Most of the time however, there is no direct reason for rejection. Our friends at YCombinator have described this phenomenon perfectly so, instead of repeating them, we encourage you to read their explanation.