For comparison, here is the rejection we received in late 2007 (for a two-founder business not in school willing to relocate):
"We're sorry to say we couldn't accept your proposal for funding. Please don't take it personally, because most of the proposals we rejected, we rejected for reasons having nothing to do with the quality of the applicants. For example, we were very reluctant to accept proposals with only one founder, because we think starting a startup is too much work for one person. We also had a higher threshold for applicants who were still in school, groups where one or more members planned to keep their current jobs, and groups that couldn't all move to California. We rejected a lot of proposals simply because we couldn't understand them, or didn't understand the problem domain well enough to judge them, or because the project seemed too big to start on only three months of funding. Sometimes we even rejected good ideas, because another group proposed the same idea and seemed further along.
"We realize this process is fraught with error. It's practically certain that groups we rejected will go on to create successful startups. If you do, we'd appreciate it if you'd send us an email telling us about it; we want to learn from our mistakes."
"We're sorry to say we couldn't accept your proposal for funding. Please don't take it personally, because most of the proposals we rejected, we rejected for reasons having nothing to do with the quality of the applicants. For example, we were very reluctant to accept proposals with only one founder, because we think starting a startup is too much work for one person. We also had a higher threshold for applicants who were still in school, groups where one or more members planned to keep their current jobs, and groups that couldn't all move to California. We rejected a lot of proposals simply because we couldn't understand them, or didn't understand the problem domain well enough to judge them, or because the project seemed too big to start on only three months of funding. Sometimes we even rejected good ideas, because another group proposed the same idea and seemed further along.
"We realize this process is fraught with error. It's practically certain that groups we rejected will go on to create successful startups. If you do, we'd appreciate it if you'd send us an email telling us about it; we want to learn from our mistakes."