Have you ever felt that you have a killer idea, but you are not able to work on it due to lack of funding. And you think that writing business plans is not worth your time. Well here is a good news. You do NOT need a business plan to get funded.
Y Combinator is now accepting applications for the summer 2008 funding cycle. Here is what they say about their way of evaluating investment ideas.
How do we choose who to fund? The people in your group are what matter most to us. We look for brains, motivation, and a sense of design. Experience is helpful but not critical.
Your idea is important too, but mainly as evidence that you can have good ideas. Most successful startups change their idea substantially.
The best part comes towards the end.
We don’t expect you to have a formal business plan yet. All you have to do is fill out our application.
To know why I am so excited about this, look at the past companies they have funded.
Reddit, Loopt, ClickFacts, TextPayMe, Snipshot, Inkling, Flagr, Wufoo, YouOS, LikeBetter, Thinkature, JamGlue, Shoutfit, Scribd, Weebly, Virtualmin, Buxfer, Octopart, Heysan, Justin.TV, I’m In Like With You, SocialMoth, Xobni, Versionate, Adpinion, Anywhere.FM, Fuzzwich, Bountii, Auctomatic, Disqus, Draftmix, Webmynd, RescueTime, Reble, Heroku, Tipjoy, AddHer, and 8AWeek. It can not get better than this.
Good TryGet your idea funded, WITHOUT a business plan :)140|just some value|7