Friedman says applicants need a founding team suited to the idea and an idea the team is excited to pursue. He identifies these as the two ingredients for a successful application.
When is the Right Time to Apply to Y Combinator?
Speaker
Jared Friedman, a Y Combinator partner and Scribd co-founder, explains when founders should apply to Y Combinator.
Revenue and traction are not prerequisites, Friedman says. He estimates that roughly a quarter to half of the companies YC funds each batch have only an idea and a founding team.
A rejection on the first application does not rule out future funding for the same team and idea. Friedman advises making more progress and reapplying, while noting there is little to lose by applying once both essentials are in place.
Friedman says Scribd applied to YC when it had a founding team and an idea. He is glad they applied at that stage.
Takeaways
- Apply once you have a committed founding team and an idea they want to pursue.
- Do not wait for revenue or traction before applying.
- If YC declines, keep building and consider reapplying as you make progress.
- Use the first application as a step in an ongoing process, not a final verdict on your team and idea.
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What was claimed 4
- role atJared Friedman is group partner at
Y Combinator“one of the partners at YC”
0:00inAdvice for Hard-tech and Biotech FoundersYouTube Verified4 sources· Talk
- featureScribd: participated in the Summer 2006 batchparticipated in the Summer 2006 batch
“which was in the Summer 2006 batch of Y Combinator”
YouTube Unverified1 source· Talk
- foundedJared Friedman founded Scribd
“I was a founder of a company called Scribd”
YouTube Verified2 sources· Talk
- metricY Combinator: A quarter to a half of companies funded each batch have only an idea and a founding team
“Anywhere from a quarter to a half of the companies that YC funds every batch are companies with just those two things”
YouTube Unverified1 source· Talk
