On Tuesday, seed funding startup accelerator, Y Combinator (YC) announced the launch of its Co-founder Matching Platform. It will be accessible to startup founders from all parts of the world through Startup School, YC’s free online program and community for founders.
Picture the way people search for and sometimes find love on Trueflutter, Tinder and other online dating apps. The way YC’s platform operates is very similar to that of the dating apps except that the outcome is to find a business partner, not a romantic partner.
How YCombinator’s co-founder matching works
The first step for anyone who wants to get a co-founder on the platform is to sign up to be a part of the program. Once that is out of the way, the next step is to set up a co-founder matching profile which will be reviewed by a Startup School team. The profile will contain information like the interests and skills you want your co-founder to have as well as the location he/she should live in.
Once the profile is accepted, YC produces profiles of candidates that closely match your desired co-founder profile. At the point where the founder finds the profile of a potential co-founder, s/he can send the person a message. If the message is accepted by the candidate, YC goes ahead and matches the two of them.
According to the accelerator, “the co-founder matching platform is optimized for rapid review to maximize the chances you find the right fit.”
Typically, it will take more than one video call for the founder to determine if the prospective co-founder is a right fit. In most cases, the duo talks more than twice before a decision is made. Where appropriate, they also work together on a time-boxed trial project with clear expectations and goals in order to vet the co-founder’s compatibility.
Building a startup is strenuous and the presence of a co-founder can increase the chances of success. Within YC’s startup school, 20% of active founders say that they are looking for a co-founder while another 25% of founders-to-be say that not having a co-founder is preventing them from starting their company full-time.
Before the accelerator’s announcement yesterday, the platform has been in the beta phase for an undisclosed number of months. According to YC, the matching platform has made 9,000 matches across 4,500 founders. Opening the platform to founders globally will make the co-founder selection process easier for them.
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