Good idea. The most important thing YC provides is an effective social network. You're connected to piers going through the same process, so you have people that understand what you're going through. In addition, YC provides advise/access to people who have been where you're attempting to go and facilitates interactions with investors that would be difficult to arrange on your own. You probably couldn't offer the same networking opportunities, but if someone is having a hard time finding a cofounder, being Cambridge at MIT would probably help.