In January 2016, Y Combinator changed the fellowship program, with participating companies receiving $20k investment for a 1.5 percent equity stake. The first batch of YC Fellowship included 32 companies that received an equity-free grant instead of an investment. The YC Fellowship Program was announced in July 2015, with the goal of funding companies at the idea or prototype stage. In 2015, he announced a partnership with Bolt and increased support for hardware companies. In 2014, Altman announced a partnership with Transcriptic to provide increased support for Y Combinator's growing community of biotech companies. In 2014, Y Combinator began a new deal for startups, offering $150,000 for 7 percent equity. ![]() In 2014, Sam Altman replaced Graham as president of Y Combinator. In September 2013, Y Combinator began funding nonprofit organizations that were accepted into the program after testing the concept with Watsi. The amount put into each company was changed to $80,000 when Start Fund was renewed. In 2011, Yuri Milner and SV Angel offered every Y Combinator company a $150,000 convertible note investment. In 2010, Sequoia led an $8.25 million funding round for Y Combinator to further increase the number of startups the company could fund. In 2009, Sequoia Capital led the $2 million investment round into an entity of Y Combinator to enable it to invest in approximately 60 companies a year. In January 2009, Y Combinator announced that the Cambridge program would be closed and all future programs would be in Silicon Valley. ![]() As Y Combinator grew to 40 investments per year, running two programs became too much. įrom 2005 to 2008, one program was in Cambridge, Massachusetts, and one was in Mountain View, California. ![]() Y Combinator was founded in 2005 by Paul Graham, Jessica Livingston, Robert Tappan Morris, and Trevor Blackwell. Paul Graham talking about Prototype Day at Y Combinator Summer 2009
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