Y Combinator- Frequently Asked Questions
Welcome to the FAQ section! Here, we’ve compiled answers to the most common questions about applying to Y Combinator (YC), preparing for interviews, and everything you need to know about the process.
Y Combinator(YC) is an incredible opportunity for startups eager to fast-track their growth. As one of the most successful and prestigious startup accelerators in the world, YC has helped launch and scale some of the biggest names in tech, including Razorpay, Airbnb, Dropbox, and Stripe, among others.
It provides a unique chance to accelerate your growth, connect with a valuable network of mentors and investors, and enhance your business strategies. So, if you're an entrepreneur with a big idea, you should apply for it right away!
In this piece, we’ve compiled answers to the most common questions about applying to YC, preparing for interviews, and everything you need to know about the YC process. We will be covering questions under the following sections-
YC APPLICATION
YC INTERVIEW
MISCELLANEOUS
YC APPLICATION
When is the best time to apply for YC?
Applying to Y Combinator (YC) can be strategic, depending on the stage of your startup and your readiness to maximise the benefits of the program. YC now opens applications 4 times a year, so here’s a breakdown to help you see which cycle might fit your startup’s journey best-
Consider your traction and readiness. Apply when you’re ready to demonstrate either substantial progress or a compelling vision.
Apply as soon as possible. Even if you’re not accepted, you’ll still receive feedback, and reapplying with improved metrics can strengthen your case.
It's important to assess where your startup stands in terms of development, traction, and preparedness.
Remember that YC values startups with solid potential, regardless of the session they apply for. On that note, an early submission, way before the deadline, has a greater advantage at YC.
What is the limit on the number of applications I can submit to YC?
There is no official limit to the number of times you can apply to YC. You can send strong and well-prepared applications to YC multiple times with different startup ideas or iterations of the same idea.
However, it's important to note that you can’t submit a pre-revenue application twice. You must ensure that your application reflects the progress and development you've achieved since your last application.
What are the most important points to cover in the YC founder introduction video?
In your YC application video, aim to cover these essential points concisely and authentically:
Who You Are—Your Team: Introduce yourself and your co-founder(s) briefly, including your background and why you are the best people to build this product.
The Problem & Solution: Outline the problem and solution, showing how it effectively addresses it.
Remember: Keep the video under 1 minute, focused, and genuine. If time allows, you can highlight additional important aspects such as your progress, any standout metrics, or specific future goals that set you apart.
What are some essential tips to consider when writing your YC application?
When writing your YC application, here are some additional key tips to keep in mind:
Be concise and clear. YC values straightforward, to-the-point applications. Avoid long explanations and unnecessary details.
Highlight a technical co-founder: If you have one or are one, make sure you mention it prominently.
Show traction with accurate data: If your startup has any early users, revenue, or metrics (even if small), include them.
No grammatical mistakes: Spelling and grammar matter! Proofread your application multiple times to ensure it’s error-free.
Avoid Over-Technical Explanations: While YC loves technical founders, the application is meant for a general audience, including non-technical reviewers.
Avoid using Indian metrics or currency: Use international standards, such as USD, for revenue or market size.
Be genuine about challenges: If you’ve faced obstacles, share them. YC values self-aware founders who can honestly discuss their challenges and learnings.
Get Feedback Before Submitting: Before you hit submit, have others read through your application—especially if they’ve been through YC themselves.
How can I effectively present my metrics in the YC application?
To effectively present your metrics in the YC application, focus on clarity, relevance, and impact:
Highlight Core Metrics: Start with metrics directly related to your product's growth and user engagement, especially if you’re pre-revenue.
Show Trends Over Time: YC values progress, so illustrate any upward trends. Show a timeline with key growth milestones.
Avoid Jargon: Keep your metrics and descriptions straightforward. Describe your metrics in a way anyone can understand.
Transparent Challenges and Solutions: If your numbers aren’t ideal, that’s okay—show that you understand why. Present any metric with enough context about why it’s low and what you’re doing to improve it.
Clear Visuals: Use simple graphs or charts for clear storytelling.
Summarise these metrics concisely and logically, underscoring the growth potential and impact of your app.
What are some important tips to keep in mind when recording your YC video?
Your demo video is your chance to show YC who you are as a founder and how you’re solving a real problem with energy and determination. So, here are a few tips to create that perfect video:
Be Natural: Avoid reading directly from a script. Instead, speak naturally and confidently.
Engage Your Co-founders: If you have co-founders, try to involve them in the video. Consider having each co-founder discuss specific aspects of the product, such as the technical side, market approach, and vision, to emphasise a well-rounded team.
Record Together: It’s strongly recommended to record the video together in the same location, as this helps showcase your chemistry and teamwork. If filming in one place isn’t possible, ensure you’re in a setting with a stable network connection to ensure smooth communication and video quality.
Keep It Short: Aim for around 60 seconds, with a slight leeway of +/- 5 seconds.
Stay Calm and Collected: Keep your energy levels up, but also stay calm.
Be Direct: Avoid Over-Explaining and keep your answers direct to the point.
Test Your Equipment: Ensure your camera, microphone, and lighting are set up correctly.
This is your chance to show your excitement and passion for what you’re building. Let that energy shine through!
7. What metrics should I use to show progress if I have a social app yet to get monetised?
When measuring the progress of a social app that's yet to be monetised, it's essential to focus on metrics that reflect user engagement, retention, and satisfaction.
Here are some key metrics that can effectively showcase traction:
User Growth:
Total Sign-ups and Monthly Active Users (MAUs)
Daily Active Users (DAUs)
Engagement Metrics
Time Spent per Session
Sessions per Day/User and Total Sessions
Retention and Churn Rates
Retention Rate
Churn Rate
Customer Feedback and Satisfaction
Net Promoter Score (NPS) or User Ratings
These metrics can give potential investors a comprehensive picture of user interest, engagement, and growth—demonstrating the app’s potential for future monetisation.
For a bootstrapped startup with an MVP, what is the ultimate tip to ace the YC application?
The foremost tip would be to clearly articulate your vision, your areas of growth, and your MVP’s journey, with and without funding.
Provide a comprehensive outline and detailed timeline that details how and when you will allocate the funds strategically to drive your startup's growth and development.
Should I mention my past failed startups on my YC application?
While mentioning failed startups in your YC application is not mandatory, providing some context about your entrepreneurial journey can be beneficial. YC values transparency and the ability to learn from past experiences.
You can briefly mention previous ventures and what you learned from them, highlighting how those lessons will contribute to your current startup's success.
As a student without significant experience, how can I stand out in my YC application?
It’s really important to showcase your strengths and unique qualities in your application. If you feel your background isn’t as impressive as you’d like, don’t worry! You can still make a strong impression by focusing on the key insights, traction, and potential of your startup.
Think about what makes you capable of solving real problems, your dedication to your startup, and how much you can grow. When you create an application that highlights these points, it can help balance out any concerns people might have about your background. Remember, it's all about telling your story in a compelling way!
YC INTERVIEW
How intense is a YC interview usually?
The intensity of a Y Combinator (YC) interview can vary, but generally, YC interviews are known to be rigorous and comprehensive. The interview can range from 10-45 minutes, where YC partners assess your startup's potential and your founding team's capabilities.
It's completely acceptable not to have all the answers during a YC interview. What's crucial is your approach to addressing these uncertainties as you progress with your startup. Instead of laying out your entire journey before them, offer a concise overview of how you, as founders, plan to navigate each step along the way.
What is the process that follows after the YC interview?
During the 3-4 months program, you'll have one-on-one sessions with various YC partners to discuss essential topics such as fundraising, customer engagement, product development, etc.
As the program ends, there will be a demo day, during which you will present your pitch to a broad audience of potential investors and hopefully gain some traction.
MISCELLANEOUS
Does YC accept idea-stage startups?
Yes, YC does accept idea-stage startups, but the application must be strong and convey the potential of your idea and your team's ability to execute it effectively.
Are there any biases against aged founders?
YC accepts founders of various ages, ranging from college students to more experienced professionals. Age is not a determining factor in the selection process.
The key factors YC values include the uniqueness of the idea, the market opportunity, the ability to execute, and the potential for long-term success.
There are two founders, one working full-time at the startup and the other part-time. Will that have a negative impact on YC acceptance?
Having one founder working full-time on the startup while the other is part-time is not inherently a negative point for YC as it evaluates startups based on various factors- the team's capabilities, the potential of the idea, traction, market opportunity, and more.
However, it's essential to approach this situation thoughtfully and address it in your application and interview.
Does it matter how the equity is split between the founders at YC?
While YC doesn't have strict rules regarding equity distribution, the equity split can reflect the dynamics of your founding team and influence how YC evaluates your startup.
It is advisable to allocate a substantial percentage (probably in double-digits) of the equity to your co-founder to empower them to dive into building the product/ idea.
If you and a co-founder split equity 50/50 (or close to it), it shows YC that you are equally invested in the startup's success. Uneven splits can sometimes raise questions unless there’s a particular and agreed-upon reason.
Do solo founders get accepted into YC?
Solo founders can indeed be accepted into YC, but it's worth noting that YC prefers startups with multiple founders.
This preference is because startups with diverse founding teams often bring various skills, perspectives, and experiences that can contribute to a more well-rounded and resilient company.
Can I simultaneously work on and apply to YC with two companies?
YC generally prefers that founders dedicate their focus to a single company and idea at any time. Engaging simultaneously in multiple ventures may not align with YC's expectations and could be viewed unfavourably during the application process.
If you're not fully invested in your own startup, it's unlikely that others, including potential investors and team members, will be enthusiastic about it.
Does YC look for a Tech-first company?
YC has a strong history of supporting and investing in technology-driven startups with the potential to disrupt or innovate within their respective industries.
While YC considers a wide range of startup ideas, many successful YC companies have a significant technology component as a core part of their business model, which can help them grow and scale faster than their non-tech counterparts.
Does it matter to YC if a founder is from a Tier 1 college or not?
YC does not prioritise founders based solely on their college or whether it's considered a Tier 1 college. YC evaluates founders and startups based on a wide range of criteria, including the team, vision, market, solution, and more.
Is it acceptable to have family members as co-founders in a startup applying to YC?
Yes, YC does accept family members as co-founders, and it's not uncommon for family members to start companies together. YC evaluates co-founding teams based on their skills, commitment, and the strength of their startup idea rather than their familial relationship.
What are some practical ways to find your co-founders?
Finding the right co-founder for your startup can be one of the most important decisions you'll make, and there are many ways to meet potential partners:
Tap into your Network: Start by connecting with people in your personal and professional network.
Industry Events and Meetups: Attend events like startup conferences, networking meetups, and accelerator showcases.
Online Platforms: Platforms like CoFoundersLab, AngelList, and FounderDating help entrepreneurs find co-founders based on shared interests and complementary skills.
Hackathons and Competitions: Participating in hackathons allows you to meet other entrepreneurs in an intense, collaborative environment.
YC Matchmaking: Y Combinator also has an internal matchmaking process, helping founders meet other potential co-founders within their network.
Ultimately, the key is finding someone who shares your vision and values and brings complementary skills to the table.
Do recommendations from YC alums carry weight in the startup selection process?
Recommendations from YC alumni can carry some weight in the selection process. But at the end of the day, YC evaluates each startup on its merit, considering factors like the team, idea, market, and traction. While a recommendation can be beneficial, it's not a guarantee of acceptance into the YC program.
If I have already received substantial funding from Indian Investors, can I still apply to YC?
Yes, startups at various funding stages can apply to YC, but acceptance depends on multiple factors. Before applying, you must be transparent about any existing funding arrangements with Indian venture capitalists (VCs) or angel investors.
This transparency is crucial to avoid future equity or ownership issues. YC has its own equity terms and expectations, so you must have clear agreements with existing investors to ensure no conflicts or complications down the road.
Have more questions that are not covered here?
Drop a comment or reach out to us and we will get it answered by our experts.
We’ll keep this FAQ section updated with more questions and answers as we go. Be sure to check back regularly for new insights and guidance!
While we consistently try to make your YC journey a breeze, don’t forget to visit their official website for the latest information on application requirements and processes.
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