Business Track Record and Stability

Universities want to know how long you've been in business and specifically how long you've offered your current solution. They're assessing whether you're a stable, experienced vendor or a risky startup that might disappear. Think of it as them asking: 'Will you still be around in 3-5 years when we need support or renewals?'

Your company's longevity directly impacts procurement decisions. Universities make multi-year commitments and need assurance you won't fold mid-contract. Established track records (3+ years) reduce procurement friction and legal review time. Newer companies face additional scrutiny, may need to provide financial statements, or could be required to establish escrow agreements. However, demonstrating rapid growth, strong funding, or notable customers can offset concerns about being relatively new.

Avoid inflating your history by counting pre-pivot years or unrelated business activities. If you pivoted from a different product or market, be transparent about when you started serving your current market. Also, don't confuse company age with product maturity - if your solution is new but your company is established, clarify both timelines to avoid confusion during technical reviews.