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In 2013, Y Combinator began accepting nonprofit organizations.Notable Y Combinator-backed nonprofits include Watsi (crowdfunding medical treatment in developing countries), Immunity Project (using machine learning to develop an HIV/AIDS vaccine), Noora Health (empowering patient family caregivers to take better care of their loved ones at home), Care Message (using mobile technology to help improve health outcomes for underserved patients) and Zidisha (direct person-to-person lending to developing countries).
Altman plans to replace the Fellowship with a MOOC, or Massive Online Open Course, in 2017. It is a nonprofit research lab focused on work that requires a very long time horizon, seeks to answer very open-ended questions, or develops technology that shouldn’t be owned by any one company.Many groundbreaking deals have been negotiated here in the past.The program includes "office hours", where startup founders meet individually and in groups with Y Combinator partners for advice.In September 2016, Y Combinator announced shuffling the deck at the Mountain View startup accelerator again, with Altman announcing that he will now be president of YC Group, which includes Y Combinator, the YC Continuity fund that was launched last October and the YC Research "moon shot" program.Ali Rowghani, Twitter's former chief financial officer and chief operating officer who was put in charge of the YC Continuity Fund when it started, is now CEO of YC Continuity.As of February 2015, additional Y Combinator partners are Dalton Caldwell, founder of imeem and app.net; Jared Friedman, founder of Scribd; Kevin Hale, cofounder of Wufoo; Aaron Harris, cofounder of Tutorspree; Justin Kan, cofounder of Exec, and Justin.tv; Attorneys Carolynn Levy and Jon Levy; Kat Manalac; Kirsty Nathoo; Geoff Ralston, creator of Rocketmail; and Michael Seibel, cofounder of Socialcam.
Ali Rowghani is the managing partner of YC Continuity..
In January 2016 Y Combinator announced version 2 of the program, with participating companies receiving $20k investment for an 1.5% equity stake.
The equity stake is structured as a convertible security that only converts into shares if a company has an IPO, or a funding event or acquisition that values the company at $100m or more.
Founders also participate in weekly dinners where guests from the Silicon Valley ecosystem (successful entrepreneurs, venture capitalists, etc.) speak to the founders.
Y Combinator’s motto is "Make Something People Want." The program aims to focus the founders on further developing their product, team and market, refining their business model, achieving product/market fit, and scaling the startup into a high growth business, etc.
Researchers are paid as full-time employees and can receive equity in Y Combinator.