One of the world’s largest startup accelerators has cut summer enrollment by 40%. If at the beginning of the year 414 projects entered the Y Combinator program, this time there are only 250. The company called for the decision to reduce the planned one.
About the reduction in recruitment at Y Combinator writes TechCrunch with reference to accelerator representative Lindsey Amos.
The summer set will include 250 startups. This is 40% less than what was recruited in the winter program.
“Batch S22 is significantly smaller than our last batches. The decision to reduce enrollment was deliberate,” said Lindsey Amos.
Amos clarified that Y Combinator took this step due to the slowdown in the global economy and declining economic activity. In such circumstances, investors are afraid to invest in projects at an early stage, Amos explained.
In May, Y Combinator warned about the consequences of a new crisis. The accelerator sent a letter to participating startups and gave them some tips to keep in mind when planning to raise new funds.
Author:
Kirill Bilyk
Source: RB
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