June 8th, 2017 marks another important day for iBanding. After a 10-week training, iBanding is now an official graduate of the Y Combinator Startup School! Why is this so important? Well first, let us look at who Y Combinator is.
Who is Y Combinator?
Founded in 2005, Y Combinator is a well-known startup accelerator (also known as seed accelerator) based in the US. As a seed accelerator, Y Combinator offers seed funding to new startups from various industries.
Seed funding is the capital needed at the earliest stage of a startup where invested capital by the investor is exchanged for an equity stake in the company.
Aside from providing the needed seed funds, Y Combinator helps startup with development of ideas and products to achieve market fit, refining business models, and help founders pitch their startups to potential investors as well as connecting them to the right prospects.
Startup School Founder Track
iBanding started the 10-week Startup School online course in April 2017. It joined many other startups from around the globe who inspired to be the next Dropbox, Airbnb and Reddit. All of whom had graduated from and nurtured by Y Combinator.
Among the participants this time was Malaysia’s own Recite Lab who offers a mobile app that validates Quran recitals anytime, anywhere.
This 10-week course helps startups by offering exposures to industries’ best practices, helpful resources and actionable advice.
Why is this important?
Being a part of the startup community means getting the right advice from experts and leaders from relevant industries. Learning from the valuable experience gained by those who have endured similar struggles means not having to repeat the same mistakes others have made and hopefully propels iBanding in the right direction to serve the Malaysian consumers better!
If you are thinking of starting your own company, have a look at this video below on “How and Why to Start A Startup” by Sam Altman & Dustin Moskovitz. It provides insights into what to expect when building your own company.
To know more about Y Combinator? Visit their official page.