5 tips on how to get into the most successful incubator in the world

folarin okunola

September 26, 2016 10:24 AM

The first step of getting into Y Combinator and stand a chance to land $120k in investment is by applying to YC to start with.

As you may already know, Y Combinator (the most successful incubator in the world) is currently in Nigeria as part of their office hours world tour. YC CEO Michael Siebel was at the first edition of OIIE's StartUP Friday in Lagos on Friday and then TechCirlce's "Building a startup: A chat with Y Combinator, incubators & Co" on Saturday, September 24, 2016.

YC COO Qasar Younis was also present at the TechCircle event, where they gave numerous tips on how to get into Y Combinator amongst other stuff.

Pulse Tech was there and we have decided to share some of those tips with you. Check them out below:

As we all know, the first step of getting into Y Combinator and stand a chance to land $120k in investment is by applying to YC to start with. Michael Siebel gives some tips on what you should or shouldn't do on your application.

1. No Soundtrack: "If your video application has a soundtrack, you lose points," said Michael. The YC CEO says having a soundtrack on you application video adds no value whatsoever to your application so be careful not to waste time on that.

2. No fancy design: "Fancy design will also lose you points," Michael says again. Having a fancy design on your written or video application does not add any relevant value to your message - don't do it.

ALSO READ: Y Combinator CEO, others attend first edition of event in Lagos

3. Forget about your background: Spending time on your application to talk about your background or the schools you attended and stuff like that will not do you any good, according to Michael. "I don't care about your background," said the YC CEO.

4. Technical Co-founder or die: This is probably the most important tip from the YC bosses. Qasar may have invested in one or two startups that don't have technical co-founders, but Michael is religious about this. If you do not have technical skills, get a co-founder that does or you only have an ice cube's chance in hell of making it to YC.

5. Describe your business from a user's point of view: The idea is to get your point across as simply as possible. Lose all the big grammar and jargons because the YC guys only have seven minutes to read or watch your application. If you leave them more confused than enlightened, you further weigh down your chances of getting in.

Getting into YC may seem like an herculean task but the people who are running the shop themselves have said that it is very possible. "You don't know that you won't get in until you apply," Michael said on a panel at StartUp Friday.

If you have a startup that is solving a real problem, and you think you have what it takes, take pointers from these tips given by Michael Siebel and Qasar Younis themselves and flourish. You just might be the next Paystack.

folarin okunola