They may review the applications, but if you submit it very late, they probably will look for absolutely ANYTHING that they could decline you for.
I submitted a late application for S14, here was the response:
"We're sorry to say we couldn't accept your late application for
funding. Please don't take it personally. The chances of a late
application being accepted are much lower than for an application
submitted by the deadline.
If you want to apply again for the Winter 2015 cycle, the application
will probably be online within the next couple of months.
Another reason you shouldn't take this personally is that we know
we make lots of mistakes. We have good statistical evidence that
we fail to interview a significant number of startups that we'd
accept if we did."
From the reading, it seems that they probably briefly reviewed it.
I can't really answer the question, I only know that Instacart got in on a really late application, but the founder did more than just submit an application. He also contacted one of the partners and showed him his application by sending him a beer with it.
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[ 0.19 ms ] story [ 24.7 ms ] threadI submitted a late application for S14, here was the response:
"We're sorry to say we couldn't accept your late application for funding. Please don't take it personally. The chances of a late application being accepted are much lower than for an application submitted by the deadline.
If you want to apply again for the Winter 2015 cycle, the application will probably be online within the next couple of months.
Another reason you shouldn't take this personally is that we know we make lots of mistakes. We have good statistical evidence that we fail to interview a significant number of startups that we'd accept if we did."
From the reading, it seems that they probably briefly reviewed it.