In a sense, it is a necessary evil to have such a restrictive list.
One, creating scarcity helps us build interest in Seedrunners.
Two, we carefully review and help each of our startup build their application (as it is in our interest for every one of them to have the best profile possible for the rankings). Something we could not realistically do if we were to receive thousands of applications.
Finally, and most importantly, it has a significant marketing power when it comes to investors to guarantee that every startup is led by founders coming from the best schools in the world.
Once we have proven that Seedrunners works and have the necessary financial resources, we will easily be able to open Seedrunners to all startup applicants (same goes for community membership).