Frequently Asked Questions

June 2016

Logistics

What happens at Y Combinator?

This.

How can we get funding for our startup?

Apply online for our next funding cycle. We fund startups twice a year.

When will the application form for the next cycle be online?

Usually at least a few months before the deadline, which is usually in October for winter batches and March for summer batches.

How much do you invest?

We have a standard deal - we'll invest $120k in return for 7% of the company's equity. While we may deviate from this in exceptional cases, it will still be the case for almost all of the companies we fund.

Do we need to write a business plan?

Not for us. We make funding decisions based on our application form and personal interviews. We love demos, but we never read business plans.

Will you sign an NDA? How do I know you won't steal my idea?

No, we won't sign an NDA. No venture firm would at this stage. The informal commitment to secrecy on our application form is more than any VC would make.

In this connection you may want to read the first section of How to Start a Startup on the value of mere ideas.

Our group has two ideas. Can we submit two applications?

Sure. Just submit them from the YC accounts of different founders.

Will you fund multiple startups working on the same idea?

Yes. If you fund as many companies as we do it's unavoidable you'll end up with some overlap. Even if you tried not to accept competing companies, you'd still get overlap because startups' ideas morph so much. The way we deal with it is that when two startups are working on related stuff, we don't talk to one about what the other's doing.

In practice it has not turned out to be a problem, because most big markets have room for several slightly different solutions, and it's unlikely that two startups would do precisely the same thing.

Why didn't you accept our application?

Strange as it may sound, the better your application was, the less likely there is to be an answer to this question. So don't take it personally. The fact is, even the best investors are quite bad at picking winners. VC firms consider themselves to be doing well if 4 out of 10 companies they fund succeed.

Suitability

We've already been working on our startup for a while. Is Y Combinator appropriate for us?

We've funded a lot of startups like that. In fact, we especially like them. We can probably help any startup that hasn't already raised a series A round from VCs.

Don't incorporate, though, if you can avoid it. It's easier to start with our paperwork than to transfer an existing LLC to a corporation.

We've already taken some funding. Can we still apply?

Sure. We've funded many startups that have.

We don't really need the money. Does it still make sense to apply?

Half (maybe more) of the startups we fund don't need the money. And in fact the money is a only a small part of what YC does. The money we invest works more like financial aid in college: it ensures that the people who do need money can cover their living expenses while YC is happening.

What if we're doing something expensive?

We'll still fund you, but instead of trying to build something launchable in three months, the goal becomes to build an impressive proof of concept to take to later stage investors to raise more money.

Do you only fund startups that write software?

No, we'll consider startups in any field. We've funded companies that make everything from microbes to fusion reactors to coffee carts. See our requests for startups to see some of the fields we're particularly interested in, and pages specifically for hardware, biotech, and edtech companies.

Can a single person apply for funding?

Yes, but the odds of being accepted are lower. A startup is too much work for one person.

I have a great idea for a startup, but I'm not technical. Will you still fund me? Can you help me find programmers to implement my idea?

We'll consider funding you, but your chances are about ten times better if you find yourself a technical cofounder.

It's much better if you find one yourself through friends of friends than if we introduce you to someone. Teams thrown together for the purpose of starting a startup usually fall apart under stress. You need some kind of personal connection.

Location

Can we do it without moving to where you are?

Sorry, no. We tried this once, and by Demo Day that startup was way behind the rest. What we do, we have to do in person. We would not be doing a startup a favor by not making them move.

You can leave one founder at home, but the rest, including the CEO, have to live in the Bay Area during the 3 month funding cycle.

Do we have to start a company in the US for you to invest in us?

If you've started your company outside the US, we will help you convert but bear in mind that you may need foreign counsel as well.

Do we have to be US citizens?

No, as long as you can get here for at least three months. We've funded many startups founded by non-citizens.

Can you get us visas?

We don't get directly involved with visas, but we have a mailing list of overseas founders who are happy to give you advice and introduce you to good immigration lawyers.

Requests

We don't want funding, but will you give us advice?

Unfortunately we can't. We've invested in so many companies that helping them takes up all our time. But much of the advice we give is collected in these essays.

I'm visiting Silicon Valley. Can I come see Y Combinator?

Sorry, but we have no provision for tours. There's not much to see anyway. We don't have founders work out of our space, so all you'd see most times would be a handful of people having conversations.

I'm starting a startup. Can I meet with you?

Unfortunately we can't meet in person with every startup that wants us to invest. There are just too many. Essentially the YC application process is the way we decide which of them to meet in person.

I want to start something like Y Combinator. Can we meet to learn how YC works?

Sorry, we are just too busy working with all the startups we've funded. But we've described in some detail what we do.

Will someone from YC review my startup idea?

Unfortunately we can't have conversations with everyone about their ideas. If you apply and we invite you to interviews we'll certainly talk about your idea with you though.

Can you recommend other investors who might be interested in our idea?

When you refer someone to an investor, you're also recommending them, and you can't recommend people you don't know. If you're looking for investors, your best bet is to find friends of friends who've started or worked for startups, and ask for intros to their investors.

I'd like YC to publicize my product / service among the portfolio companies.

The best way to publicize your product within the YC community is to get a few YC startups as happy users and ask them to recommend you to their peers.

That being said, we do keep a list of offers that we share with our active YC portfolio companies. If you would like to offer a special deal on your service or product to our companies, you can fill out this information form. We manually review these deals and will let you know if your offer has been approved or rejected.

I'd like to sell my product / service for YC to use.

We prefer to build our own software in-house. It's actually very rare for us to use external services, but you're welcome to email us at info@ycombinator.com. If we're interested, we'll let you know.

Other

Why did you choose the name “Y Combinator?”

The Y combinator is one of the coolest ideas in computer science. It's also a metaphor for what we do. It's a program that runs programs; we're a company that helps start companies.

What's the average age of people you fund?

About 29. A lot of people think it's younger because the press especially like to write about young founders.

Are you hiring?

We aren't, but companies we've funded are.

I want to reset my Hacker News password.

If you try logging in with a random password, you'll get a link giving you the option to have a new password emailed to you. If you don't see that link, it's because you didn't put your email in your profile. In that case there's nothing we can do either; without your email in your profile, we can't authenticate you. So in that case you should just create a new account. (And this time please put your email in the email field of your profile, in case you forget your password again.)

My IP address seems to be banned on Hacker News. How can I unban it?

If you request pages too fast, HN will ban your IP. To unban it try the self-serve unban link described by PG. That should take care of it most of the time.

What's the "Too many accounts" error message in Hacker News?

This means that too many accounts have been created at one IP address. You should wait a few hours, or try from a different IP address.

Late Applications

What are Late Applications?

Late applications are those submitted after the application deadlines (typically late March and mid-October). If you submit an application after the deadline, your application is automatically tagged as “late”.

Do you get penalized for submitting late applications?

No. Your application will be reviewed on the merits of its content and not on its timing. You lose out on i) responsiveness – it will take us longer to get back to you since we received your app outside of the dedicated time set aside for application processing, ii) coverage – fewer partners review late applications which means there's a greater chance they'll miss your value prop, and iii) acceptance rate – late applications are generally competing for fewer slots, so it's harder to be accepted the later you apply.

What happens when I submit a late application?

Late applications will be processed ad-hoc, based simply on the availability of the partners to read and review it. We review all late applications with the same criteria as on-time applications, the only difference is that it will take a little patience to get your results.

When will I get a reply if I submit a late application?

While we do our best to process late applications as soon as we can, it depends on the availability of partners and the time they need to read and review the late applications. Partners are busy helping the startups we've funded so it may take anywhere from a couple of days to a few weeks before you'll get a reply.

If you haven't heard from us, be patient. All that silence means is that we haven't reviewed your application yet. As soon as we do, we'll email you.

How do we get our late application results?

We'll email you the results of our app review just like we do for on-time applications. You'll either receive an invitation to interview that contains details of our in-person meeting, or you'll get an email to say that we won't be interviewing you right now. If you aren't invited to interview, we hope that you don't get discouraged and that you continue with your pursuit to build something great.

Do you give feedback on application results?

We don't provide feedback on application results. If we did this, we'd spend all our time providing feedback and doing nothing else due to the volume of applications we have to process. Read this for more info about feedback.

When do you hold late applicant interviews?

It's impossible to provide a specific date. Sometimes the timing of late applications lines up with the standard apps we get so you'll interview with the on-time applicants. We'll also hold a late application interview day before the batch starts, so maybe you'll interview then.

If your application is compelling enough, we'll even interview you after the batch starts. We won't know the specific date of late interviews until we've reviewed your application (and everyone else's).

What is the deadline for submitting a late application?

There is no hard deadline. We'll keep allowing teams to submit late applications even whilst a batch has commenced. Again, the later you submit your application, the harder it is to get into YC.

Can I submit a late application after an on-time one?

No, please don't do this. If you submit a late application after already having submitted one on-time for the same startup, your application will be flagged as suspicious and won't get reviewed by partners. Please refrain from doing this and wait for the next application cycle to submit a new application.