April 7, 2016
Hacker News is being prompted by users to look into funding startups.
With users coming from diverse backgrounds in the startup world, the direction of which startups should be founded could shift dramatically for Y Combinator, according to a recent post. By keeping the key decision making within the Hacker News community, there is a hope that more startups would be encouraged to apply.
“Starting today, there’s a new track for YC applications: applying directly to the Hacker News community. We’ll call it ‘Apply HN’. Note that word experiment! We’ll start small and figure it out as we go. But here are the initial conditions. YC’s Fellowship program will fund a minimum of 2 startups selected by the HN community for this summer’s F3 batch. (They name their batches sequentially.)
As to why YC is opening up the Fellowship program to this crowdsourcing initiative, the Hacker News post continues:
“The Fellowship is the YC program that fits best here since it’s designed to be experimental and inclusive and doesn’t require people to move to the Bay Area.All the interviewing and evaluating will be done in regular HN threads, and everyone is welcome to participate. For this summer’s batch, Apply HN will accept applications starting now and ending April 27. If you’d like to apply to the HN community for YCF funding, simply post a submission whose title begins with ‘Apply HN’ and explain what your startup does. Hopefully community members will ask you questions and good discussion will ensue.”
Users are encouraged to participate and become active in voting and nominating startups that they believe would be a good fit. As with the current statistics showing that the vast majority of startup funding goes to white male-owned companies, initiatives like this will encourage more diverse startups to vie for funding opportunities.
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