Y Combinator, one of the world’s most well-known startup accelerators, announced a special package to support financial technology startups in crypto infrastructure. This program offers both basic infrastructure access and early access to various software tools for teams aiming to establish new businesses in Web3 and blockchain-based technologies.
Scope of support and new opportunities
Although the crypto space has recently experienced price pressures and decreasing investment appetite, Y Combinator’s approach to startups attracts attention. Teams participating in the program will have advantageous access to many professional tools, starting with gas credits that can be used for network fees. The support provided includes private node access to various networks, digital wallet services, fiat on-ramp solutions and token exchange infrastructure.
Within the scope of the package Y Combinator prepared for crypto startups; He states that the teams aim to strengthen the working environment, facilitate infrastructure access and attract mainstream investor attention to Web3 projects.
Startups that will benefit from these new opportunities will also have access to on-chain data analysis tools and audit services. Selected teams will receive privileged support, especially from financial and wallet companies such as Coinbase, Stripe, Phantom, and industry-leading organizations such as Solana Foundation and Circle.
Mini dictionary: Y Combinator is one of the world’s most prestigious startup accelerators, founded in 2005 and has stood out as an early stage investor of many global technology companies such as Dropbox, Airbnb, Coinbase.
Special benefits for crypto startups
Teams that will be accepted can apply for two main support packages. The “starter pack” offered for teams at the application stage is exclusive to hackathon or event participants and can only be accessed within the scope of Y Combinator organizations. Here, similar to the credit support given to artificial intelligence initiatives; The credit that teams can use in cloud services and various crypto tools is defined.
Teams that have been accepted and invested are entitled to network expense support worth a total of 10 thousand dollars for two years. In addition, technical service is offered free of charge for one year, followed by a 50 percent discount for two years.
While Y Combinator applications are received regularly every year, the scope of support may be updated in the future depending on the feedback from entrepreneurs and technical teams.
Y Combinator’s place in the crypto ecosystem
So far, Y Combinator has directly invested in 83 crypto startups. It also signed a total of 391 joint investments with different crypto-focused funds. While the focus of investments is concentrated on payment and payment infrastructure and developer tools; Important projects in the field of API services and fintech are also included in the portfolio.
The company’s average return on crypto investments appears to be 54 percent negative, according to Cryptorank data. But despite current performance being weak, the accelerator maintains its interest in startups and prioritizes payment gateways and stablecoin-based business models.
It is known that Y Combinator also provided early stage support to Coinbase and OpenSea initiatives, which were influential in the growth of the NFT sector in the previous period. In particular, the company positions the future of stablecoins and payment technologies as its main focus.
Y Combinator also aims to meet the security and scalability needs of Web3 technology with the support it provides to API providers and blockchain infrastructure companies. Applications and details about the program have been started through official application channels.
