FIRST STEPS TO YCOMBINATOR
The story of getting into the startup accelerator
As a young startup we have the fear of missing out so we decided to use all the opportunities to grow and develop. Our choice was to get in a startup accelerator. By the way, many experienced founders advise this way for novices. We've been thinking and comparing a lot and now we want to share our decision with you.
Our top one pick was Y Combinator. If you want to know more about startup accelerators or to learn why did we chose exactly the YCombinator, this article aspires to explain these points.
What an accelerator is? First of all it is a space for a lot of work to be done, the information and tips to learn and all-in-all a kick in the pants. To be more scientific, a startup accelerator is a source of finance and other services to help new businesses get established and cover some of their initial costs that startup founders often cannot provide themselves.
The startup accelerator business model is focused on growth-driven ventures in their infancy and aims to achieve a good return on investment within a relatively short period.
The accelerator programs don't just offer money to early-stage companies. They often combine financial support with training and mentorship, and may also give entrepreneurs ways to enter global networks with other businesses and find an in-road into their target market.
Why did we choose the YCombinator?
Well, first, it's important to mention that choosing an accelerator mostly depends on the specific features of one's company and its goals. After analyzing all these aspects, we've made our choice. Here are some special attributes of YCombinator that suit us:
it connects founders with huge amount of allies
possesses its own strong brand recognition. It is valuable from the point of opening doors to its members
has an active internal social network.
has the purpose to push a business to enormous revenue goals
fundraising — raising bigger rounds at higher valuations
risk tolerance: supports and invests in moonshots (mad ideas)
gives effective tactical and succinct advice about relevant topics
YC is a smaller community, bonds are stronger and the network is reliable
has the access to almost any Silicom Valley startup
accepts ~200 companies, which means great diversity and many different points of view
helps getting media mentions
has a daily digest emailed to you of the most poppin' posts of yesterday.
What stage are we on now? We have applied to the YCombinator and hope to get in the small Russian speaking alumni group. Interesting fact: there are about 60 Russian speaking founders during the whole history of YCombinator (since 2005!).
Now we are looking forward to have the challenging experience of being an alumni. Let this be our first-step precious victory!