Canadians report from Y Combinator Summer Camp

Posted by Rob Lewis

Canadians Michael Parkatti and Mike Marrone are in Cambridge, Massachusetts participating in the 2008 summer session of Y Combinator - a new kind of venture firm specializing in funding early stage startups, to begin work on their new stealth-mode Internet startup. In a special GlobeTechnology.com feature, Parkatti and Marrone will be filing weekly reports as they work they way to publicly launch a new Web-based business in August.

However, the dim prospects have not deterred my business partner, Mike Marrone, and I from throwing caution into the wind and participating in the most high-profile entrepreneurial launch pad possible: Y Combinator. For those unfamiliar with Y Combinator, it can be roughly described as a Venture Capital firm that provides seed funding for startups. However, their obvious corollaries with the traditional venture capital industry end there. From a first-time founder's perspective, Y Combinator is exactly the sort of program that provides the means to achieve our ambitions. On top of the seed investment, they also provide many of the intangibles (product advice, connections, ready access to hundreds of potential investors) that first-time entrepreneurs usually lack. In exchange they receive a small percentage of equity from each founding team. For the current three-month session (June to August), 22 teams have converged on the Boston area.

You may recognize Parkatti's name from previous Techvibes coverage on another one of his start-ups - ChompChompDead.

Company:
Y Combinator
Website:
http://ycombinator.com
Location:
Mountain View, California, United States

Y Combinator does seed funding for startups. Seed funding is the earliest stage of venture funding. It pays your expenses while you're getting started. Some companies may need no more than seed funding. Others will go through several rounds. There is no right answer; how much funding you need depends on the kind of company you start. At Y Combinator, our goal is to get you through the first phase. This usually... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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