Y Combinator is one of the most successful startup accelerators in the world. Every year they take two batches of 100 companies and offer them in-person instruction from Y Combinator partners at their Silicon Valley headquarters and $120,000 in funding in exchange for 7% of their equity.
Started in 2005 by several prominent investors including legendary computer scientist and venture capitalist Paul Graham, Y Combinator has invested in more than 1,450 companies, and is behind the success of companies like DropBox, Airbnb, Stripe, and Reddit. The combined market capitalization of Y Combinator companies is estimated at over $80 billion.
Until now, however, most of the companies they've helped get off the ground and grow to multi-million and multi-billion dollar valuations were started in the US. Y Combinator is determined to change this, however, with the recent launch of its online accelerator program, Startup School Founders Track, as Tech Crunch reports.
Thousands of founders from around the world took the 10-week program recently, which required them to watch lectures, attend group office hours with their peers, and submit updates on their growth and other metrics. They also received feedback sessions and mentoring support through email. Y Combinator invests no cash and takes no equity in the companies.
Of the 7,746 startups that went through the program, 1,584 passed the course. Their ideas cover a wide range of industry verticals, from artificial intelligence and augmented reality to esports and robotics. You can watch their demo video presentations here.
"One big and obvious but important difference is how much more internationally focused this is", Y Combinator president Sam Altman told Tech Crunch's Josh Constine. "If this keeps working I think we can have a significant impact on the financial outcomes of the world...Next time we could do 10,000."
Got a great idea for a startup? Trying to move from stealth mode to launch? Need advice for raising money and scaling up? Y Combinator has made nearly 20 video lectures available on their website covering topics from finding ideas to creating products to raising money to building a team.
All are taught by luminaries in the startup and venture capital worlds like Jan Koum, co-founder and CEO of WhatsApp, Aaron Levie, co-founder and CEO of Box, and Vinod Khosla, founder of Khosla Ventures.