What would you do? Acceptance decision by April 16th to Techstars or wait for YComb decision and risk losing the given opportunity?
16 comments
I'm sure techstars would take anyone who made it to the interview stage at YC, regardless of deadlines.
But how many of them would take Techstars? Giving away 5% of my equity for $10000 is a pretty marginal decision without the advice and connections that come with it, and I've yet to see that TechStars has any advice that isn't plaigarized from your essays. Being forced to be based in Boulder pretty much puts me under the bottom.
I don't get it. If you (YC) choose not to fund a startup after the interview, it's because you think that you will not make money out of it. Why would TechStar fund them? They already tacitly acknowledge that they cannot do any better than you.
The seed business is national. Almost everyone who applies to Techstars will apply to YC as well. Since I honestly can't see any reason anyone would prefer them to us, that means their destiny is to fund people we reject. The best startups we reject are the ones that make it to the interview stage.
About 300+ teams have applied to TechStars so far. I am guessing for YC the number is at least 500. From this large pool, only about 13 teams will be selected by Y Combinator. So I am sure there will be some good startups even within the ones that are rejected by Y Combinator.
TechStars could also judge their applicants on a criteria different from Y Combinator and catch good startups where YC might not.
The word on the street is that most startups, however, wouldn't choose TechStars over Y Combinator. First, the initial investment is lower. Second, they aren't original nor do they have the reputation that Paul does. In the end, though, it all comes down to which program maximizes success for startups. For that, David had this to say in an e-mail "Our investors have funded several hundred companies over the years, far more than Y Combinator has done. Y Combinator has Reddit to point out. Our founders point at Newsgator, Technorati, Feedburner, Dogster, and tons more as examples of our past experience."
I don't think anyone hates TechStars, but startup's would have had more respect for them if they had at least taken Paul's permission for rewording and copy-pasting the questions :)
TechStars could also judge their applicants on a criteria different from Y Combinator and catch good startups where YC might not.
The word on the street is that most startups, however, wouldn't choose TechStars over Y Combinator. First, the initial investment is lower. Second, they aren't original nor do they have the reputation that Paul does. In the end, though, it all comes down to which program maximizes success for startups. For that, David had this to say in an e-mail "Our investors have funded several hundred companies over the years, far more than Y Combinator has done. Y Combinator has Reddit to point out. Our founders point at Newsgator, Technorati, Feedburner, Dogster, and tons more as examples of our past experience."
I don't think anyone hates TechStars, but startup's would have had more respect for them if they had at least taken Paul's permission for rewording and copy-pasting the questions :)
We don't only accept 13 startups. There just happen to be 13 in the current batch. Our policy is, and always has been, to accept as many as we think are good enough.
And incidentally, that claim about funding hundreds of companies is characteristically bogus. That number must come from all the investments made by VC funds during the time Brad Feld et al worked for them. That's like claiming that because you worked for Microsoft for a while, you wrote millions of lines of code.
And even so the big winners they "point at" are not much more valuable than the companies YC has funded, despite the fact we're only 2 years old.
And incidentally, that claim about funding hundreds of companies is characteristically bogus. That number must come from all the investments made by VC funds during the time Brad Feld et al worked for them. That's like claiming that because you worked for Microsoft for a while, you wrote millions of lines of code.
And even so the big winners they "point at" are not much more valuable than the companies YC has funded, despite the fact we're only 2 years old.
The only reality that counts is what's already in the prospect's mind. Coca-Cola came before Pepsi, so even a century later, it continues to dominate the market. Aside from being displeased, YC shouldn't feel threatened by TechStars; Y Combinator is ahead of its competition by leaps and bounds especially since it was first in their prospect's minds. For startup founders and bloggers, TechStars will always come off as the "clone".
There is understandably some heat between us and the replicant. Wouldn't it be a good idea to just send David an email (David[@]coloradostartups.com) to reach some common ground? This might just be an opportunity to expand Y Combinator beyond Boston or Mountain View.
There is understandably some heat between us and the replicant. Wouldn't it be a good idea to just send David an email (David[@]coloradostartups.com) to reach some common ground? This might just be an opportunity to expand Y Combinator beyond Boston or Mountain View.
Every market is going to have multiple players (Pepsi vs Coke, Microsoft vs Apple, Goldman Sachs vs Fidelity, Google vs Yahoo); competition is healthy and usually indicative of a solid market. While there may be some heat between YC and TechStars because of the Application Form, they're both great additions to the Venture Capital Field.
Both teams have great members and mentors; PG being at the top of the list for YC, Brad Feld being up there for TS. An aspiring serial entrepreneur will do well to learn and be accepted by either company, of that I'm sure.
Both teams have great members and mentors; PG being at the top of the list for YC, Brad Feld being up there for TS. An aspiring serial entrepreneur will do well to learn and be accepted by either company, of that I'm sure.
I'd have to say that currently Y is considered a "brand" now with Mike constantly mentioning the companies on his blog, Y with a strong community, and PG was the first to introduce this concept.
However,if an entrepreneur had the honor of being accepted into either Techstars or Y Combinator, I'm sure he/she would work their butt off not only for themselves but to represent the program he/she is in. Multiple players foster a very healthy competition.
We'll just have to wait and see which program selects the better "animal" entrepreneurs for this round. The success of a startup involves not only the people heading it, but a large part depends on the entrepreneur themselves and the ability to implement or create something useful. How very exciting!
However,if an entrepreneur had the honor of being accepted into either Techstars or Y Combinator, I'm sure he/she would work their butt off not only for themselves but to represent the program he/she is in. Multiple players foster a very healthy competition.
We'll just have to wait and see which program selects the better "animal" entrepreneurs for this round. The success of a startup involves not only the people heading it, but a large part depends on the entrepreneur themselves and the ability to implement or create something useful. How very exciting!
Y acceptance isn't announced till 29th? I thought it was till 22nd?
"# We'll review applications by April 10 and invite the groups that seem most promising to meet us in Mountain View on the weekend of April 21-22. We'll reimburse up to $500 per group for travel expenses.
# We'll decide who to fund that weekend, and tell you by phone on Sunday evening."
"# We'll review applications by April 10 and invite the groups that seem most promising to meet us in Mountain View on the weekend of April 21-22. We'll reimburse up to $500 per group for travel expenses.
# We'll decide who to fund that weekend, and tell you by phone on Sunday evening."
Are you kidding? The whole reason to go with YC is all the advice and help they give you. What kind of advice, connections, and overall support can these Techstars people give you?
Folks, this is a local Economic Development Committee quasi-government operation. They are there for the good of Colorado, only secondarily to make money by funding successful startups. This is bad because their interests are less aligned with you than the YCs', because they aren't (apparently) putting much of their own money in this, because it's more important for them to make Colorado look good than to actually succeed, and because those picked to run this thing are politically connected first, competent second if at all. One of the main four people is a politician for Pete's sake: http://jaredpolis.com/ . Run don't walk.
Folks, this is a local Economic Development Committee quasi-government operation. They are there for the good of Colorado, only secondarily to make money by funding successful startups. This is bad because their interests are less aligned with you than the YCs', because they aren't (apparently) putting much of their own money in this, because it's more important for them to make Colorado look good than to actually succeed, and because those picked to run this thing are politically connected first, competent second if at all. One of the main four people is a politician for Pete's sake: http://jaredpolis.com/ . Run don't walk.
Aren't these the dudes that plagiarized YC's application (and maybe entire business model)? Sure you want to do business with them?
Take a leap of faith and wait for Y, knowing that you just given up a sure opportunity to be mentored or go for Techstars?
Of course both are great programs