Thursday, October 29, 2009

Wish me luck.


Y Combinator is a company based in Palo Alto that gives small amounts of venture capital to internet start-ups. The application process is nice and straightforward, so I've decided to apply this year for the round of funding that starts next January. The amount they offer isn't all the money in the world, but they don't ask for all the stock in the world, so it's a fair deal for a guy like me. I can live on the money they offer, which is more than I can say for teaching gigs right now.

Not to go into too much detail, but the idea is for an educational site that would mostly be free to the public with a fee-based section for students taking particular college courses. My hope is that we can create a business model where the fee is for a semester and at some reasonable price, unlike the textbook racket.

I want to thank Ken Rose for telling me about Y Combinator, Rob Fulop for taking time to get together and giving me his advice on start-ups, and to sfmike for his help making my application look better and to Mike's partner Tony for letting me use his Mac to test out the feasibility of the product.

I'm being intentionally vague as to what the website is. The application process ended yesterday and Y Combinator takes about a week to decide who they will fund, so I'll know better by late next week as to whether it's thumbs up or thumbs down.

Not really all that long a time to wait, but when you're waiting, it always seems long, doesn't it?
~

12 comments:

Zoey and Me said...

Yes. When you are waiting for something it seems like forever but it's also more exciting. I love those moments of anticipation. So Good Luck Matty Boy! If we bloggers can help make this gig work for you, let us know what to do. I think it's a great idea.

47th Problem of Euclid said...

Matt:

Call me when you get the chance. I'm working on something similar, an education-based social networking site.

ken said...

Hey, good luck! Glad you came up with something.

Abu Scooter said...

Good luck from me, too. It'll be nice if it works out.

¡Karlacita! said...

Yay Matty Boy and the interwebs!!!

We're crosing our fingers and avoiding chipmunks!

namastenancy said...

The very best of luck !

Fran said...

Oh yes - wow, this sounds intriguing. I send you all my good thoughts and wishes dear Matty!

CDP said...

Yay Matty! My fingers are crossed for you!

Matty Boy said...

Thanks to all my well wishers. I will know the outcome early next month and I will keep you informed.

Emphyrio said...

Good luck! If you haven't already come across this, one of Y Combinator's founders, Paul Graham, has a lot of interesting essays posted about startups (and other things) at http://www.paulgraham.com/articles.html

Dr. Zaius said...

Good luck! :o)

dguzman said...

Go Matty Boy Go!

My word verification was "logram" which sounds like the same kind of mathy word as "Y combinator." I think it's a good sign!