Y Combinator explained: the deal, batches and the application

By GrantSnap team · Published 2026-10-31 · guide

The Y Combinator apply page in October 2026 — Y Combinator's application page, captured 31 October 2026.

Y Combinator is a startup accelerator that invests $500,000 in each company it accepts, in return for equity, and runs a three month programme in San Francisco. It is open to startups anywhere in the world, and about 40% of each batch is described by YC as just an idea at the time of acceptance. If you have a founding team and a product idea you are serious about, YC says you can apply.

This guide is for a founder deciding whether to apply. Everything below comes from YC's own pages, read on 31 October 2026. Dates and terms can change, so confirm them on the official page before you act.

The standard deal

YC's standard deal page states that YC invests $500,000 in every accepted company, with no milestones. The commitment is made on the day you are accepted, not when the batch starts. The money is split into two parts.

The first part is $125,000 for 7% of the company, on a post-money SAFE. The page says this converts into 7% of the company's equity, including any existing option pool. The second part is $375,000 on an uncapped SAFE with a Most Favored Nation provision. That SAFE converts on the terms of the lowest cap, or another more favourable term such as a discount, among SAFEs issued between the start of the batch and your priced round. YC's example is a $15M post-money cap, where the second SAFE converts to about 2.5%.

A YC Agreement sits alongside the SAFEs. It sets YC-specific guidelines and rights, including a participation right. That right lets YC buy a share of new securities in later financings to keep its stake.

On cost, YC states that it charges no fees to participating companies. It also says it avoids gotcha terms, such as enhanced returns in a downside exit. As of 31 October 2026 these are the terms on the deal page.

Batches, location and the three months

YC's about page says it runs four batches a year, in winter, spring, summer and fall. The programme lasts about three months. The current call is for the Winter 2027 batch, which runs from January to March, in person at YC's campus in San Francisco.

The about page describes the structure. There is a 3-day in-person kick-off in the first weeks. Companies are split into three groups led by YC partners, with group office hours every two weeks and one-on-one sessions as often as founders want. A weekly meetup in San Francisco includes a talk by a founder. The batch ends with Demo Day, where companies present to selected investors and press.

The FAQ says participation is mostly optional and the time commitment is a few hours per week if you do all the recommended activities. The FAQ says YC has been in person since 2022.

Who applies and at what stage

The FAQ says startups anywhere in the world can apply. Non-US founders do not need to incorporate, get visas or get business licences before applying. Companies in any field are considered, not only software.

On stage, the FAQ says about 40% of each batch is just an idea and most companies have no revenue. It also says 7% of recent batches had more than $50k in monthly revenue at acceptance. YC suggests applying as soon as you have a founding team and an idea you are excited about. It says it can probably help any startup that has not raised a Series A from VCs.

Solo founders are accepted regularly, but the FAQ says a one-person startup is tougher and a co-founder improves your odds. YC runs a free Co-founder Matching service.

You can apply while studying or working elsewhere. If accepted, you must commit to working full-time on the company during and after the batch. Students can apply early for the batch after they graduate.

What the application asks

The apply page does not list the questions, and the form itself sits on YC's application portal. The most useful public source is YC's how to apply page. It names several questions and explains how reviewers read them. Check the live form for the current list.

The first question asks what your company is going to make. Reviewers read it to get oriented, so the page advises stating the core idea plainly in the first sentence. A second question asks, in one or two sentences, for something impressive that each founder has built or achieved. The page calls this the most important question. It says the size of the achievement matters more than its type.

A third, the wildcard question, asks about a time you most successfully hacked a non-computer system to your advantage. The page says a strong answer can lift an otherwise weak application. A question near the end asks what other ideas the founders have. YC sometimes funds groups working on those alternatives.

The form also covers a demo, stock allocation among founders and an optional video. The how to apply page says applicants who submit a video are statistically more likely to be interviewed. I did not find video length or format rules on the pages checked, so read the instructions in the form.

How selection, interviews and timing work

The how to apply page says partners read applications independently. Reviewers first identify the founder configuration, then judge how strong that group is. The page notes that most ideas change significantly after funding.

As of 31 October 2026, the apply page says Winter 2027 applications are due on 2 November at 8:00 PM PT for on-time review. Applications submitted before the deadline get a decision by 11 December. If the application looks promising, YC invites you to interview. Most interviews are by video conference in November and December. YC usually decides on the same day as the interview.

The FAQ says interview invitations are the only time YC gives application feedback, and every interviewee receives detailed feedback. Late applications are still read, when reviewers have spare time. The FAQ says most get a decision within a month, but this is not guaranteed.

Reapplying is encouraged. The FAQ says about half of each batch's companies applied more than once before getting in. You can submit only one application per batch, and recommendations carry over.

Common mistakes

The how to apply page lists several. Marketing language and grand, generic claims convey no concrete information. Long introductions about how important the problem is add nothing. Vague claims about character need a specific example.

Naming the startup itself as the founders' greatest achievement is another one. Claiming good design or ease of use as your insight, without saying how, is a third. Ignoring obvious obstacles is a fourth. The page says disclosing a known problem is better than hiding it, because an unmentioned problem suggests you have not thought about it.

The page also says more than half of the groups good enough for an interview still weaken their applications by communicating poorly.

After acceptance, costs and obligations

The deal page says YC invests as soon as you are accepted. The FAQ says you can spend the money on anything that helps the business, typically starting with a founder salary and travel to San Francisco.

Incorporation is the main practical task. The deal page says YC invests in US, Canada, Cayman and Singapore corporations and helps accepted companies incorporate. If you are already incorporated elsewhere, you must create a parent company in one of those places. The FAQ calls this a significant effort.

On immigration, the FAQ says founders on visas such as the H-1B can in most cases join YC and stay in the US. Invited founders receive an individualised immigration plan from YC's immigration attorneys.

The obligations are the equity, the YC Agreement and its participation right, the full-time commitment and the move to San Francisco for an in-person batch. The MFN SAFE adds further dilution that depends on your future cap.

Deciding whether to apply

As of 31 October 2026, GrantSnap's catalog lists Y Combinator Winter 2027 Batch as open, with a deadline of 2 November 2026. The deadline is close. The apply page says late applications are still considered, without a promised timeline.

Apply if you have a founding team, you can state what you are building in a sentence, and you can point to something specific that each founder has built or achieved. If not, you can apply to a later batch, and the FAQ says progress since your last application is a strong signal.

GrantSnap tracks live calls like this one, drafts answers from your profile and fills the form in Chrome. You review every answer before submitting.

Common questions

How much does Y Combinator invest and what does it take?

YC's deal page states $500,000 per company: $125,000 for 7% on a post-money SAFE and $375,000 on an uncapped SAFE with a Most Favored Nation provision. It states that YC charges no fees. Confirm the terms on the official page before applying.

Do I need a company or a product to apply?

No. The FAQ says you do not need to incorporate before applying, and about 40% of each batch is just an idea. You do need a founding team and an idea you are excited about, and accepted companies must be in a US, Canada, Cayman or Singapore corporation.

Can I apply as a solo founder or from outside the US?

Yes to both. The FAQ says solo founders are accepted regularly, though a co-founder improves your odds, and startups anywhere in the world can apply. The batch itself is in person in San Francisco.

What is the deadline for the Winter 2027 batch?

As of 31 October 2026, YC's apply page says 2 November at 8:00 PM PT for on-time review, with a decision by 11 December. Late applications are still considered, with no promised timeline.

Can I reapply if I am rejected?

Yes. The FAQ encourages it and says about half of each batch's companies applied more than once before getting in. You may submit only one application per batch.

Sources

Y Combinator: The YC Deal (accessed 2026-10-31)
Y Combinator: Apply for Winter 2027 (accessed 2026-10-31)
Y Combinator: How to apply (accessed 2026-10-31)
Y Combinator: FAQ (accessed 2026-10-31)
Y Combinator: About (accessed 2026-10-31)

We read YC's deal, apply, how to apply, FAQ and about pages on 31 October 2026; the open listing figures come from the GrantSnap catalog as of 2026-10-31.

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