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Applications open for Y Combinator's summer 2012 funding cycle

ycombinator.com

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Re: Applications open for Y Combinator's summer 2012 funding cycle

#71

Post by jarek »

achompas wrote: post #69
jarek wrote: post #60

Earlier quoted context omitted.

> If you're running a startup I really cannot think of a singular reason as to why you wouldn't apply. Nitpicking: No interest in moving to the Bay Area would seem to be one.

This has been addressed ad nauseum in the past: you don't have to move to the Bay Area to join YC. Lots of YC companies spend the summer in the Bay, then move back to continue working.

Nitpicked on my nitpick, deservedly. Make that: No interest in moving to the Bay Area for three months would seem to be one.

Re: Applications open for Y Combinator's summer 2012 funding cycle

#72

Post by JoshTriplett »

kprotocol wrote: post #17
Animus7 wrote: post #3

Earlier quoted context omitted.

As a YC reject, I can only say the same. I'm convinced that just going in for interviews to was the best thing that happened to us. Our original idea wasn't going to work and making the trip to California opened our eyes. So if you're wondering whether you should apply, the answer is yes. Even (especially?) if you get rejected.

I cannot agree more on this; btw, do they tell you why you are rejected or its just that, "We found the 30 companies we were looking for. So better luck next time".

Full text of a Y Combinator rejection letter:

We're sorry to say we couldn't accept your proposal for funding. Please don't take it personally. The applications we receive get better every funding cycle, and since there's a limit on the number of startups we can interview in person, we had to turn away a lot of genuinely promising groups.

Another reason you shouldn't take this personally is that we know we make lots of mistakes. It's alarming how often the last group to make it over the threshold for interviews ends up being one that we fund. That means there are surely other good groups that fall just below the threshold and that we miss even interviewing.

http://ycombinator.com/whynot.html

We're trying to get better at this, but it's practically certain that groups we rejected will go on to create successful startups. If you do, we'd appreciate it if you'd send us an email telling us about it; we want to learn from our mistakes.

Y Combinator Staff

Re: Applications open for Y Combinator's summer 2012 funding cycle

#73

Post by erikpukinskis »

chucknthem wrote: post #26
kprotocol wrote: post #22

Earlier quoted context omitted.

"if you are creating a startup just to get into ycombinator you should not be doing a startup." If this was the case, then I would prefer taking my chances with banks than pg.

Why is that? convincing banks to give you money will be much harder, at a high interest rate, and you have to give the money back whether you're successful or not.

If your company sells for any appreciable amount of money, the "interest" you pay YC will be astronomically larger than any loan anyone would give you.

Re: Applications open for Y Combinator's summer 2012 funding cycle

#74

Post by jayzee »

Mc_Big_G wrote: post #56

My potential co-founder is currently here (S.F.) on an H1B visa and it will be a year or two before he receives a green card. Does this rule him out as a co-founder? We've been investigating the options but so far a definitive answer has eluded us. I'm hoping someone here has dealt with this situation before and can enlighten us.

There were several people in the summer batch in a similar situation and it was not an issue.

As long as people can be sure to arrange to be here when the batch is in session it does not matter.

Re: Applications open for Y Combinator's summer 2012 funding cycle

#75

Post by drewonstuff »

dmragone wrote: post #38

I'm curious about the RFS's: Is YC still looking for responses to all 9? Are there any in particular you feel have been met, and any that have disappointed in solutions?

I wonder about this too. I just noticed that our idea fits RFS #2 pretty well. I wonder if #2 is played out? It's certainly not as general as RFS #9, and I assume many have given this one a shot. On the other hand, most of these RFSs could probably stand relevant for years to come with multiple and varying startups able to satisfy the request.

Re: Applications open for Y Combinator's summer 2012 funding cycle

#76

Post by tnicola »

d3x wrote: post #59
startupfounder wrote: post #48

Earlier quoted context omitted.

I am wondering what you have learned from each rejection, mind sharing?

I have been rejected 4 times and each time I learned things. socialadmanager.com - 2x it was that my product lacked focus and the value it created was as obvious as I thought it was. spotted.at - 1x I learned that even if I had been funded I would have failed because the product was simply not something that people would pay for. i.crowdfunded.it - 1x I learned that I did not understand the customer / market etc... e…

Repetitio est mater studiorum.

Re: Applications open for Y Combinator's summer 2012 funding cycle

#77

Post by [deleted] »

pclark wrote: post #35

One of the things I have heard a lot of founders say when asked if they are considering doing YC is that they are already "down the road" with their company - as in, they have already launched, or have customers, or investor attention. I know dozens of startups that went through YC at this stage, and they will all reiterate how beneficial YC was for them. If you're running a startup I really cannot think of a singula…

[deleted]

Re: Applications open for Y Combinator's summer 2012 funding cycle

#79

Post by EGreg »

pclark wrote: post #35

One of the things I have heard a lot of founders say when asked if they are considering doing YC is that they are already "down the road" with their company - as in, they have already launched, or have customers, or investor attention. I know dozens of startups that went through YC at this stage, and they will all reiterate how beneficial YC was for them. If you're running a startup I really cannot think of a singula…

I'm not sure if we should apply. We already did three times and were rejected. It kind of put us off psychologically, because we really felt we matched what YCombinator says they look for. This is from last year:

http://news.ycombinator.com/item?id=2426118

Since then, we have raised a little over $100k in our first round, increased our team, and got 20,000 people using us daily out of 200k (lifetime) installs. We applied and explained everything -- but again just got a form letter a couple months later.

So now we are up to 40k daily users, and out of 600k installs, about 200k people keep our apps and use them (just not daily). We are about to generate profit. We are talking to investors about a 5mil pre money valuation. I am wondering what is the point of applying to YC again ... can anyone who has been in a similar situation tell me what your experience was?

Re: Applications open for Y Combinator's summer 2012 funding cycle

#80

Post by dpn »

Hey YCombers.. regarding RFS #9 it explicitly mentions SOPA and related topics but only in the context of Hollywood and not music. Do you think a music play that that addresses copyright issues would be of any interest?

We're applying anyway so it doesn't matter, I'm just wondering if we can say we are responding to RFS #9 :)

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