I think I'm at 2 interview rejections and 1 app rejection.
The masochism will stop when the motivation subsides!
Applications open for summer 2013 YC funding
11–20 of 128 posts
Re: Applications open for summer 2013 YC funding
#12Re: Applications open for summer 2013 YC funding
#13I have an odd question that has stopped me from applying from most incubators to date (although it may also be too early as well)... If my idea is very specific to an industry because that's what I'm interested in pursuing but would require developing applications that would benefit almost all general industries conceivably, is that considered good or bad? For example, my company is only looking to be a player in the…
Out of curiosity, why only the legal industry? I understand a narrow focus might make sense starting out from a marketing point of view, but if you have some new technology that could benefit multiple industries, why not pitch it more broadly. Something like: 'We plan on selling to the legal market first which is worth X billion dollars, after finding success there this technology can be applied to markets Y and Z - together they spend Q billion dollars on software annually?'
Re: Applications open for summer 2013 YC funding
#14No more no-idea applications?
I haven't seen YC's success with no-idea applicants, but I feel that being able to generate an idea is an important attribute to look for in founders even if you don't care what the actual idea is. In PG's running back analogy, it's like testing to see if they can move laterally vs being a "downhill runner"
Re: Applications open for summer 2013 YC funding
#15I have an odd question that has stopped me from applying from most incubators to date (although it may also be too early as well)... If my idea is very specific to an industry because that's what I'm interested in pursuing but would require developing applications that would benefit almost all general industries conceivably, is that considered good or bad? For example, my company is only looking to be a player in the…
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Re: Applications open for summer 2013 YC funding
#16PG, would it be possible to see a screenshot or a basic tour of what the application reviewers see? I'm curious to see the logistics on that side of the equation.
Also, something that I've found really helpful to remember in talking to VCs and angels (and for something like the YC application, presumably) is that for a "demo"/elevator pitch, you can't presume much work on the part of the reader.
Specifically, if you're demoing an iPhone/Android app, you should probably have a textual description, which then links to screenshots, which might also include some video/screen capture. Then, link to an install URL. Essentially no one is going to casually install a random iPhone, Android, FB-login, account-creation website, Facebook, etc. app just to try it out, especially in the earlier screening stages. But at the same time, having a "live" demo people can use as soon as they're interested is ALSO great. So, the best way is probably something which allows progressive engagement.
(the YC application says to not require a login, just to provide a special URL, but for something like a mobile app, that advice is a little outdated and non-specific.)
Re: Applications open for summer 2013 YC funding
#17I have an odd question that has stopped me from applying from most incubators to date (although it may also be too early as well)... If my idea is very specific to an industry because that's what I'm interested in pursuing but would require developing applications that would benefit almost all general industries conceivably, is that considered good or bad? For example, my company is only looking to be a player in the…
Out of curiosity, why only the legal industry? I understand a narrow focus might make sense starting out from a marketing point of view, but if you have some new technology that could benefit multiple industries, why not pitch it more broadly. Something like: 'We plan on selling to the legal market first which is worth X billion dollars, after finding success there this technology can be applied to markets Y and Z -…
Well like I said that's all I am interested in personally. If my cofounders or funders wants to take it in other directions after it's developed that's fine and I wouldn't stop them but I know what I want to do and I think it's sustainable an idea in the legal information area alone (just look at westlaw/lexis/bloomberg).
Re: Applications open for summer 2013 YC funding
#18I see that the equity stake that YC gets is variable from 2-10%, presumably based on valuation. I had thought it was a fixed 7% stake; is this new or had I not noticed it before?
Re: Applications open for summer 2013 YC funding
#19I see that the equity stake that YC gets is variable from 2-10%, presumably based on valuation. I had thought it was a fixed 7% stake; is this new or had I not noticed it before?
It's been that way for a long time.
Re: Applications open for summer 2013 YC funding
#20I think I'm at 2 interview rejections and 1 app rejection. The masochism will stop when the motivation subsides!
May you provide more insight into why the persistence in doing so?
I'm curious as to why you would put so much value in joining an incubator when you could spend the same amount of time in growing your business. Funding is not the goal, but gasoline for the vehicle that will take you to your goal. Seems like a waste of time for such little money. I know the "status" from joining the YC program is quite high there, but it does not guarantee success.