The Globe and Mail in Toronto (where my friend Richard Florida offers his blog) has a great column by Michael Parkatti and Michael Marrone, current Y Combinator participants. For a bit on Y Combinator click here.
The one of the reason’s that we follow Y Combinator is because it is on the leading edge of new funding/advising models. The column is enjoyable and provides some insights into the paths of two young entrepreneurs (which include much time on campus). They will be writing columns each week during their three months in Cambridge at Y Combinator.
From their column:
For those unfamiliar with Y Combinator, it can be roughly described as a Venture Capital firm that provides seed funding for startups. However, their obvious corollaries with the traditional venture capital industry end there.
From a first-time founder’s perspective, Y Combinator is exactly the sort of program that provides the means to achieve our ambitions. On top of the seed investment, they also provide many of the intangibles (product advice, connections, ready access to hundreds of potential investors) that first-time entrepreneurs usually lack. In exchange they receive a small percentage of equity from each founding team. For the current three-month session (June to August), 22 teams have converged on the Boston area.
For two Canadian guys from St. Albert, Alberta and Belleville, Ontario who are long on ideas and short on connections, it’s exactly the opportunity we were looking for to take our startup to the next level.