US-based accelerator Y Combinator is considering making its summer 2020 programme for startups an online-only affair, thanks to the travel restrictions that are likely to continue in the wake of the coronavirus pandemic. The summer 2020 programme is slated to be held from June to August 2020, and Y Combinator is inviting startups to submit their applications. Registrations end today (March 16) in the US time zones.
In its announcement, Y Combinator clarified that the startups can apply later as well, but the chances of getting shortlisted will be much lower. The shortlisted businesses will be invited to meet Y Combinator representatives, but the programme is yet to decide on the details of these meetings.
The company is said to be considering late April, May or early June, before the summer batch begins. As usual, 11 months into the session, Y Combinator will organise a demo day for the startups to showcase their products in front of a live audience and it will also invest in many of the startups.
Y Combinator has funded close to 2K startups since it began its programme in 2005 and the combined valuation of its portfolio is $100 Bn. Its portfolio includes Airbnb, Meesho, Razorpay, Cleartax, Coinbase, Dropbox and more. Startups will have to create a parent company in the United States or the Cayman Islands in order to participate in the Y Combinator accelerator programme. YC will not only fund seed-stage ventures but also mentor them to scale their businesses.
Currently, Y Combinator is in preparation to organise the demo day for its winter batch of 2020, which is said to have 28 Indian startups. The demo day for the winter batch is scheduled to be held next week on March 16 both digitally due to coronavirus outbreak. In an email, the renowned accelerator announced, “While we won’t be able to recreate every aspect of Demo Day, we’ll try our best to create an amazing experience for our founders and investors.”