US seed accelerator Y Combinator (YC) has opened applications for its winter 2019 funding cycle. Yesterday we published an article about how Kobo360 raised pre-seed funding from Y Combinator, you can read about it here.
This announcement was made on Monday last week and the deadline for interested start-ups is 2 October 2018. Y Combinator invests $120K in start-ups for 7% equity in return. On its website the accelerator notes that sometime between late October and early December, it will invite the best startups to meet with its representatives in Mountain View (Silicon Valley), California where it will then select the companies it will invest in. The founding teams of the selected startups will be expected to relocate their companies to San Francisco’s Bay Area. YC will assist founders in creating a US company into which the accelerator will invest in.
What you need to know
- If you want to apply, please submit your application online by 8 pm PT on October 2. Startups that submit early have a small advantage because we have more time to read their applications. And you can submit after the deadline – though keep in mind that the later you apply, the harder it is to get in.
- On October 23, by 10 PM, we’ll invite the startups that seem most promising to meet us in Mountain View either in late October, November, or early December. We’ll reimburse reasonable travel expenses.
- We decide what startups to fund after each day of interviews.
- If we invest in your startup, your company’s founding team is expected to move to the Bay Area for January–March 2019. You can, of course, relocate the company afterward if you want, but it’s a good place for a startup to be.
- Y Combinator doesn’t supply office space. We have space your company can use if you need to, but we expect your startup to work out of wherever you find to live. It is no coincidence that so many successful startups have started this way; it’s the ideal setup for the initial phase.
- During the 3 month cycle, we’ll have dinners every Tuesday for all the founders. At each dinner, we’ll invite an expert in some aspect of startups to speak.
- We have regular office hours year round for startups who want to talk about what they’re building, or get advice on dealing with investors. We also have occasional events at YC.
- During and after the 3 months we introduce startups individually to people who could help them. The founders of other YC-funded companies tend to be especially helpful. Today the YC alumni network is probably the most powerful network in the startup world.
- About 11 weeks in, we organize an event called Demo Day at which the startups present to a carefully selected, invite-only audience.
- YC doesn’t really end after 3 months; only the dinners do. We continue to give advice and make introductions as long as our startups need—-and so does the informal network of YC-funded companies.
Who we fund
How do we choose which startups to fund?
We’ll fund companies from anywhere in the world. We fund companies doing everything from building mobile apps to diagnosing cancer.
We’ll happily fund companies that just started and have nothing more than an idea. And we’ve funded companies that had over $20M in annual revenue and over 50 employees.
International founders, please note: if your company is already incorporated as a non-United States company, to participate in YC you will need to convert your foreign company into a United States corporation (usually with a foreign subsidiary). While lawyers will drive this process, it will require a significant effort on your part.
You must have at least 10% equity in the startup to be considered a founder by Y Combinator. Only founders can come to interviews if invited or attend batch events if accepted.
Also read this guide on what the accelerator looks for in successful submissions.