Y Combinator (YC) is now accepting applications from startups for its remote summer 2021 program from June to August 2021. Applications are due by March 19 but startups that submit early have a small advantage because there is more time to read and review applications. Teams will be interviewed on a rolling basis, with interviews in April, May, or early June.
Y Combinator provides $125,000 in seed funding for startups selected for the program. Funds are intended to get teams through six months or more of operating costs to get them the first phase – typically building something that is solid enough to raise money at a larger scale. The three-month program also includes group office hours with other companies and YC partners, as well as introductions to the YC alumni network. It concludes with Demo Day at which the startups present to a carefully selected, invite-only audience.
YC funds companies from anywhere in the world and in every sector. It funds companies that just started and have nothing more than an idea, and it funds companies that have over $20M in annual revenue and over 50 employees. Founders must have at least 10% equity in the startup to be considered a YC founder.
YC offers a standard deal of $125,000 on a post-money Simple Agreement for Future Equity (SAFE) in return for 7% of the company when the SAFE converts.
Non-profits accepted into the accelerator will receive a donation of $100,000 and YC does not receive anything in return for the donation.