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Introduction. Twice a year Y Combinator takes applications for funding. I thought it might help applicants if I explained what we look for when we read them. Probably the biggest thing people don’t understand about the process is the importance of expressing yourself clearly.
- Dropbox's Summer 2007 Application
Idea What's new about what you're making? What substitutes...
- Video
If you have a demo for your product, there is a separate...
- Dropbox's Summer 2007 Application
Mar 16, 2024 · Step-by-Step Guide to Applying for Y Combinator. 1. Preparation. Gather your team and ensure you’re aligned on your vision and goals. Research past YC companies, understand why they were selected, and pinpoint what can set you apart. 2. The Application.
To apply for the Y Combinator program, submit an application form. We accept companies twice a year in two batches. The program includes dinners every Tuesday, office hours with YC partners and access to the network of other YC founders.
Mar 15, 2024 · Successfully navigating the YC application process can provide your startup not only with funding but also invaluable mentorship and networking opportunities. In this article, we dive deeply into how to optimize your application and increase your chances of joining the ranks of these successful companies.
- Application Questions
- Company Section
- Founders Section
- Progress Section
- Idea Section
- Equity Section
- Others Section
- Curious Section
- Key Take-Aways
- Worth Noting
Before we jump in, please note that YC questions are subject to change, and the application adjusts based on your inputs (ie. if you respond “No” to the question “Do you have revenue?”, the application won’t show you all the revenue related questions). If you don’t see one of these questions on your application — don’t worry. Here we go.
Company name:
This question is self explanatory: put the current name of your company or project. Do not spend a bunch of time stressing over the name for your startup, as it doesn’t matter much, and very well may change.
Describe what your company does in 50 characters or less.
Being able to concisely articulate what your company does is really important. This may seem easy, but it’s not. Here are some tips on crafting your 50 character response: 1. Aim for six to eight words 2. Focus on your unique value proposition 3. Find inspiration here: https://www.ycombinator.com/topcompanies 4. Don’t use a phrase like “Uber for X” — unless pretty much anyone would know the established company you’re referencing. Everyone knows what Uber is, so it works; “Wolfram for X” doesn...
Company url, if any:
Drop a link to your website. If you don’t have a website yet, consider how quickly you can create one that looks decent. You don’t need to be technical to create a great looking website these days. Here are some tools to consider: 1. Webflow: allows you to create beautiful sites with interactions and basic functionality including ecommerce. 2. Wix, Weebly, Squarespace:all of these website builders have a very low learning curve. 3. Shogun:best for ecommerce specific websites that use a platfo...
Please provide some details of the cofounders in the startup.
Most of the detail inputs are self explanatory. For each cofounder: 1. Full name 2. Email Address 3. Phone Number 4. Linkedin URL 5. Are you a technical founder?* (Required) — this is a Yes or No answer. 6. Age 7. Gender Don’t BS if you’re non-technical; it’s fine. Being dishonest is not. Go by their definition, and only answer yes if you are a programmer, engineer, or scientist who can build the product without outside assistance. When adding the details for each cofounder to the application...
Please record a one minute video introducing the founder(s).
This video isn’t a pitch video, they’re just trying to get a sense of who you are. Part 1: Founders introduce themselves: 1. Cofounder name 2. Cofounder function (i.e. software engineer, product designer, scientist, salesperson) 3. 1-2 companies the cofounder has (most recently) worked at or started 4. Repeat for each Cofounder 5. One cofounder can add some detail on how the cofounders met each other That part should take about 30 seconds. Part 2: Small bit about the company 1. “We’re {name_o...
Who writes code, or does other technical work on your product? Was any of it done by a non-founder? Please explain.
Part one: “Who writes code, or does other technical work on your product?” State the person or entity that has done the R&D work on your product, specifically the engineering and the design. Make clear their relationship to the company. Address this part of the question in 1 sentence. Part two: “Was any of it done by a non-founder? Please explain.” Ideally all of the R&D work was done by a cofounder. If not, it needs to have been contracted properly and you need to be the owner of the intelle...
How far along are you?
This question is looking specifically for the data on your traction. And this is where a lot of applicants tend to add fluff. Stick to the facts of what has happened, and not what you believe will happen. Examples of data to include here: 1. Launched our product/MVP on XX/XX date. 2. Have $YYK in annual recurring revenue. 3. Have ZZ Weekly Active Users (WAU). 4. Achieved {hard_tech_biotech_etc_specific} R&D milestone It can be really tempting to go into persuasion mode, but what will make you...
How long have each of you been working on this? How much of that has been full-time? Please explain.
Part 1: “How long have each of you been working on this?” You can start counting from the first line of code, the incorporation, the first customer conversation, team meeting between the founders, etc. Whatever your definition of the company’s inception is. You can include any important details for clarifying anything unique about the inception. If there is not anything that needs clarifying, don’t add detail unnecessarily. 1 sentence for this. Part 2: “How much of that has been full-time?” S...
Are people using your product?
Yes or no question. Both answers prompt separate follow up questions.
Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you’re making?
First part: “Why did you pick this idea to work on?”. Write 1 sentence on what inspired or compelled you toward this specific pain point. It doesn’t necessarily need to be a deeply personal or profound reason, just be honest and stick to facts. Second part: “Do you have domain expertise in this area?”. If you have domain experience, great; write 1 sentence stating your experience and any credentials. If you don’t have domain experience, don’t worry about it. There are plenty of instances wher...
Who are your competitors? What do you understand about your business that they don’t?
First part: “Who are your competitors?”. Personally, I think of competitors in 3 categories: 1. Large incumbents: major industry players who need to be disrupted. 2. Old way of doing things, or fractional competitors that need to be “stitched together” to form a solution. 3. Other startups: any startup that has gained market attention (or venture capital) that you’d consider directly competitive. If you don’t have competitors in each of these categories, that’s fine, but the answer to this qu...
How do or will you make money? How much could you make? (We realize you can’t know precisely, but give your best estimate.
First part: “How do or will you make money?”. This should be a 1 sentence recap of your answer to “Where does your revenue come from?”. Second part: “How much could you make?” is effectively looking for a Total Addressable Market (TAM) calculation. Yes, a significant TAM is necessary for most venture scale startups, but the other purpose of this question is to gain insight into your thought process- so stay data driven. Write out the TAM calculation in 1–2 sentences. The calculation should go...
Have you formed ANY legal entity yet?
Yes or no question. Any legal entity counts, regardless of location. The application will adapt based on your response.
Please list all legal entities you have and in what state or country each was formed (e.g. Delaware C Corp, Mexican SAPI, Singapore Pvt Ltd, etc.).
List out all of the entities. Follow their instruction: “This might include subsidiary companies, legal entities you formed in other markets to do business, entities you created before a pivot, or legal entities you set up to employ developers or other service providers.”
Please describe the breakdown of the equity ownership in percentages among the founders, employees and any other stockholders. If there are multiple founders, be sure to give the equity ownership o...
Think of the response like a 3 column table. 1. Column 1: Name of anyone with equity (stock) in the company 2. Column 2: Role in relation to the company (title or list as an investor) 3. Column 3: Percentage of ownership in the company The response should be focused on those data. If something requires explanation, you can include 1–2 sentences clarifying.
If you had any other ideas you considered applying with, please list them. One may be something we’ve been waiting for. Often when we fund people it’s to do something they list here and not in the...
I’ve been asked a few times if this is a trick question to test your loyalty to your mission; it isn’t. If you have other ideas you’re interested in or passionate about, list them here. Consider this format: 1. Idea in 50 characters or less. 2. 1 sentence that inspired or intrigued you toward this problem area. Repeat for each idea. Each idea should be 2 sentences. Keep it to 3 additional ideas max. Response should be 2–6 sentences.
What convinced you to apply to Y Combinator? Did someone encourage you to apply? Have you been to any YC events?
Part 1: State what inspired or convinced you to take the interest in applying in 1 sentence. Part 2: If a person encouraged you to apply, name the person or list the people. Otherwise state, “No one encouraged me to apply.” Part 3: If you attended a YC event, name the event or list the events. Otherwise state, “I have not been to a YC event.” You can combine the last 2 points into 1 sentence if no one encouraged you to apply and you haven’t been to a YC event. Response should be 2–3 sentences...
How did you hear about Y Combinator?
They’re looking for the referral source. If it was word of mouth; name the person or people. If it was Paul Graham’s essays, HackerNews, YouTube, etc., name the source. 1–2 sentences max.
Brevity is key.
If there is any opportunity to use less words, or less sentences; do so. Most responses should be either 1–3 sentences, or 3–5 sentences max. Why is this so important? YC gets about 20,000 applications per batch right now. Imagine you had to read 50 of these applications in 1 day. The applications that stand out are the ones that spare the partner the task of having to separate the data from the fluff.
Focus on data.
YC partners look for facts and metrics. If there is any part of the app that feels like it’s “selling” or “pitching”, consider replacing it with facts and numbers. They don’t want to be pitched; they’re the ones who teach startups how to pitch. They just want the relevant data so they can make a decision.
Provide complete answers to the questions.
The application has questions that have an initial question and a follow up question, or two follow up questions. Address all questions, concisely.
YC applications and interviews can be stressful. The acceptance rate is really low- about 1.5% — 2%. I think that some founders can get this perception that if they can just get into YC, they’ve made it, and if they don’t, their startup isn’t great. Neither of those things are even remotely true. YC rejects many founders that they eventually accept...
So this is, sort of, rather than a conversation that sort of fits in between the cracks of the lecture series that we have organized, this is part of the actual lecture series and is meant to help you understand more about the YC application process.
Mar 15, 2024 · YC’s application process is rigorous, accepting a small percentage of applicants. Startups are required to submit a detailed application, showcasing their team, product, market, and traction. Promising candidates are then invited for interviews, leading to the final selection.
