What does it take for your startup to get accepted into Y Combinator? Check out these conversation highlights from our Twitter Spaces event last Jan. 27, hosted by PayMongo CEO Francis Plaza and CCO Luis Sia.
In this video, Francis and Luis talk about their journey in March of 2019 along with their co-founders when they applied to Y Combinator, the premier startup accelerator in the world.
“What YC really looks for is that you not only have a great idea and a great market but you also have the right composition to actually make it happen,” Francis shared.
For Luis, getting into Y Combinator boils down to a simple framework he learned from Paul Rivera and Dexter Ligot-Gordon of Kalibrr, which was the only other Philippine startup that had gotten into Y Combinator at the time.
“It’s basically, team, total addressable market (TAM), and traction. You know, basically, if you get those three things right, you essentially make your way into YC,” Luis says.
This video tackles why jargons don’t really work if you’re pitching your startup to Y Combinator.
"You really just want to be able to relay what you’re trying to do in the simplest terms possible," Luis says.
“If you're sending your application to a bunch of YC partners reading thousands of them, you really just want to stand out and you want to be that startup that they would remember. And they'll breeze through the applications. So, you want it to be easy for them to go through,” Francis adds.
As of this writing, Y Combinator is currently accepting applications from startups for the Summer 2022 funding cycle. It will take place from June to August 2022, according to their website.