The ongoing coronavirus outbreak has disrupted economic activities in an unprecedented manner. Experts, historians and analysts have suggested that this economic downturn, which is perhaps the biggest of its type in a long time, won’t wither anytime soon.
Taking cue from how things are in this outbreak, Y Combinator said that it may make its Summer 2020 accelerator program entirely virtual, depending on how things pan out. The announcement holds significance, since it goes on to show that even a startup accelerator program as big a Y Combinator, isn’t immune to the ongoing economic turmoil.
In a blog post Y Combinator said, “Depending on the circumstances this summer, some or all of the batch may take place remotely over video.”
However, the accelerator program did mention that it wanted entrepreneurs to know that its Summer 2020 batch will happen as planned. “We want to make sure founders know that the YC Summer 2020 batch will take place.”, said the accelerator. Online applications for the same are also open now and the shortlisting process remains the same with some minor tweaks to how interviews happen.
As a result of the ongoing COVID-19 global pandemic, Y Combinator already announced that W20 Demo Day will be a week early and online only.
In all of its previous cohorts, Y Combinator has required all selected startups to relocate to Bay Area for at least the duration of the program. And as lucrative as that opportunity may sound, most startups have found this as more of a burden on their businesses, considering they would have to leave the geography that they are operating in.