American seed accelerator Y Combinator (YC), which is touted as the world’s most powerful start-up incubator by Fast Company, is seeing the most applications from Indian startups after the US in its upcoming batches and expects the trend to continue.
In its two batches in 2017, the Y Combinator has already seen the entry of 18 Indian startups, more than the aggregate of 12 between 2011 and 2016, reported Economic Times.
“In the last two years, India is the country that has sent YC the most applications (after the US). I believe that will continue to be true for this coming batch (winter 2018), and I hope we’ll see more applications from India after our coming visit,” said Kat Manalac, a partner at Y Combinator.
Moreover, the accelerator also plans to hold office hours in Bengaluru, Delhi and Mumbai to drum up applications with three of its partners visiting in October. Y Combinator also likely to open startup school in India soon.
Last month, Wheelstreet, a Bengaluru-based motorbike rental marketplace, which was a part of the Y Combinator Summer 2017 cohort, had raised $120,000 from Y Combinator.
And last year, Bengaluru-based self-drive car rental Driveezy (formerly Justride) raised $3 million from marquee Y Combinator partners and major global investors followed by habit-forming app Supr Daily raising $120,000 from Y Combinator as part of the world-leading accelerator’s mentorship programme. Supr Daily was one of the 12 Indian start-ups to have been picked by Y Combinator in 2016 winter.
Other Indian startups which have booked themselves a spot in Y Combinator’s coveted programme are ClearTax, RazorPay, HackerRank and Innov8, among few others.
Since its inception in 2005, Y Combinator has backed 1,430 companies that now command a total market capitalization of over $85 billion. The accelerator behind some of the most-valued startups such as hospitality service Airbnb and payment processing company Stripe. Ten companies from Y Combinator are valued at over $1 billion each and all companies put together have raised over $13 billion.
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