Paul Graham has an interesting approach for seed funding. Maybe there is something we can learn and adapt. Some of us in Band of Angels may like to launch a Y Combinator . To do a proper launch will take some time.
This post is just a test check to see what prospective entrepreneurs in India think of Paul Graham essays and the Y combinator approach.
A few things I found interesting
1. YC looks for ideas and entrepreneurs and not business plans. It helps incorporate companies and get the entrepreneurs ready to get funding if required from angels/ VC’s
2. YC does not invest much. Maximum it has invested in a company is $24,000. It takes upto 5-7% of the company
3. YC seems to cater to entrepreneurs who have fire in their belly, good ideas and the ability to execute rapidly. They also need to be first time entrepreneurs who need help with getting started.
4. YC is not an incubator. All founders have to be in a sort of boot camp for 90 days but they work out of wherever they live.
I am in Delhi for just a few days in Sep/Oct so will investigate launching a Y combinator type play in India in November if I find enough interest.
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