Y Combinator aims to bring more startups through its accelerator that can help with the COVID 19 crisis, and the company is committed to speeding up the pace of its application process so that it can raise money earlier for the effort.
The last batch of the accelerator was “presented” only last week on a virtual demo day, which was adjusted in view of the early outbreak. Just a week later, the situation has improved significantly, and the YC team plans to introduce a new class of startups to address pandemic problems.
YC shared some of the new areas it specifically wanted to invest in, including Tests and diagnoses, treatments and vaccines, hospital equipment and surveillance / data infrastructure. Startups that fit the bill are quickly tracked, funded and immediately thrown into a remote program.
YC is looking for companies that can help while investing in companies that can stay viable after the crisis, the company says on its website:
In order for a startup to have an impact on the current crisis in good time, it has to move faster than most people think possible. This means that the founders must have expertise in this area. They also need to have a plan that can have a significant impact worldwide in a short time. You also need to find a way to build sustainable business after the crisis is over.
In addition to providing details on how to finance new businesses, YC also provided a website listing some of the efforts that should be made by its existing portfolio companies.