Ask HN: Apply for Y Combinator or not?
9 comments
Here is what PG says:
Do we have to start a company in the US for you to invest in us?
Yes, but that's usually not a problem. It's easy for foreign nationals to start US companies (much easier than remaining here physically), and investors and acquirers prefer them.
Do we have to be US citizens?
No, as long as you can get here for at least three months. We've funded many startups founded by non-citizens.
Can you get us visas?
No, sorry, we don't do that. You'll have to figure out visas for yourself. If you know people from previous YC-funded companies who came from outside the US, we suggest you ask them for advice. They understand the options better than we do.
Do we have to start a company in the US for you to invest in us?
Yes, but that's usually not a problem. It's easy for foreign nationals to start US companies (much easier than remaining here physically), and investors and acquirers prefer them.
Do we have to be US citizens?
No, as long as you can get here for at least three months. We've funded many startups founded by non-citizens.
Can you get us visas?
No, sorry, we don't do that. You'll have to figure out visas for yourself. If you know people from previous YC-funded companies who came from outside the US, we suggest you ask them for advice. They understand the options better than we do.
While anything is possible, I find that most situations are best approached by maximizing for the desired outcome. As such, take the following for what it's work and good luck to you:
YC has a clear and openly stated bias for founding teams of 2<=X<=4 entrepreneurs.
Traction trumps MVP any day of the week. If people are already using your MVP, stress that. Traction is a commonly used de-selector.
The investor preference in SV is such that (it's likely) one of the first things required for a seed round will be some sort of DE or DE & CA incorporation. Since YC companies get funding, it's likely they'll require you to do the same. This is probably an area that if you choose not to give on where the company is incorporated, you'll turn off a lot of investors from SV. If it's a deal breaker for you, seek Canadian investment.
-Best of luck
YC has a clear and openly stated bias for founding teams of 2<=X<=4 entrepreneurs.
Traction trumps MVP any day of the week. If people are already using your MVP, stress that. Traction is a commonly used de-selector.
The investor preference in SV is such that (it's likely) one of the first things required for a seed round will be some sort of DE or DE & CA incorporation. Since YC companies get funding, it's likely they'll require you to do the same. This is probably an area that if you choose not to give on where the company is incorporated, you'll turn off a lot of investors from SV. If it's a deal breaker for you, seek Canadian investment.
-Best of luck
Do you think its reasonable for me to have a preference for operating in Canada? My server is currently in the USA but I do know that once there is traction(profit) ill move it to Canada and keep it here.
I think you should apply. In case your application will be accepted you'll have a unique YC experience. As a Canadian you shouldn't have any visa problems to come to US for 3 months.
In case you won't be accepted... At least you have tried.
In case you won't be accepted... At least you have tried.
Agreed, I'm applying from Canada too. Take the chance. What's to lose?
Hack more, and find team members. Create some working prototypes. Try a minimum viable product. An idea is cool but it often changes a TON when you implement and start iterating.
No need to let your Canadian status be a barrier to making the application. I know of at least one Toronto-based team that landed funding last cycle.
Should point out that I have already developed a minimum viable product. Its in version 1, I'm working on a set of updates to make it better.
Keep working on your idea, apply next time around if situations have changed.
just out of curiosity, why do you want it to be operated in Canada?
Where are you located in Canada? I'm in Guelph.
I have a pretty unique idea, but live in Canada. I want my company to operated and be registered in Canada. I am also a single developer, I have friends who are interested in helping, but they aren't team members(designer). I also can't think of a time when I've hacked something. Any thoughts?