{"id":42697,"date":"2023-10-20T15:23:07","date_gmt":"2023-10-20T15:23:07","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/vc-firm-to-contribute-to-150k-ycombinator-fund-startupsmart\/"},"modified":"2023-10-20T15:23:07","modified_gmt":"2023-10-20T15:23:07","slug":"vc-firm-to-contribute-to-150k-ycombinator-fund-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/vc-firm-to-contribute-to-150k-ycombinator-fund-startupsmart\/","title":{"rendered":"VC firm to contribute to $150k YCombinator fund – StartupSmart"},"content":{"rendered":"

US-based venture capital firm Andreessen Horowitz has teamed up with start-up incubator Y Combinator, promising to contribute $50,000 of the $150,000 awarded to every Start Fund participant. <\/span><\/p>\n

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Start Fund, created in January this year, is a joint venture between online entrepreneur Yuri Milner and micro VC firm SV Angel, founded by angel investors Ron Conway and David Lee.<\/p>\n

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Milner and Conway created the Start Fund to invest in every new Y Combinator start-up, with each one awarded $150,000.<\/p>\n

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Established in 2005, Y Combinator invests a small amount of money \u2013 the average amount is $18,000 \u2013 into a large number of start-ups twice a year.<\/p>\n

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The start-ups move to Silicon Valley for three months, during which time Y Combinator works extensively with them to hone their offering and refine their pitch.<\/p>\n

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Each cycle culminates in a demo day where the start-ups present to a large audience of investors, with the aim of raising new financing.<\/p>\n

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However, Y Combinator\u2019s involvement doesn\u2019t end there. The Y Combinator network continues to help the founders of each start-up throughout the life of the company.<\/p>\n

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Andreessen-Horowitz, which is already an investor in some larger Y Combinator alumni such as Airbnb, has jumped on board by promising to contribute $50,000 of Start Fund\u2019s $150,000 sum.<\/p>\n

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The firm will participate in the next Y Combinator start-up event at the end of this month.<\/p>\n

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\u201cWe\u2019ve been working with Paul [Graham, founder of Y Combinator] for awhile and we\u2019ve just been really impressed,\u201d Andreessen Horowitz told VentureBeat.<\/p>\n

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\u201cSo when we had a chance to join the program, we said \u2018absolutely\u2019.\u201d<\/p>\n

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Andreessen-Horowitz co-founder Marc Andreessen says Y Combinator produces start-ups of the highest calibre, hence the interest in getting on board.<\/p>\n

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\u201cWhat you have with YC is a special situation. It is a very high quality set. Paul just impresses the hell out of us in terms of quality and the results he has had,\u201d he says.<\/p>\n

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\u201cHe is running such a good selection process that an investment in this group is a good idea.\u201d<\/p>\n

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One of the most successful Australian companies backed by Y Combinator is Omnisio, founded by Ryan Junee and acquired by Google in 2008.<\/p>\n

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After completing a three-month training program at Y Combinator, Junee and his partners attracted the interest of Google at a demo day.<\/p>\n

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Earlier this year, Y Combinator held a demo day for 63 start-ups \u2013 it\u2019s biggest batch to date \u2013 with more than 30 of the companies pitching to investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

US-based venture capital firm Andreessen Horowitz has teamed up with start-up incubator Y Combinator, promising to contribute $50,000 of the<\/p>\n","protected":false},"author":2,"featured_media":60190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42697"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=42697"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60190"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=42697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=42697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=42697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}