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This article was published on September 6, 2013

    Following Watsi, Y Combinator to now fund non-profit startups in the form of a charitable donation

    Following Watsi, Y Combinator to now fund non-profit startups in the form of a charitable donation Image by: Chris Jackson
    Ken Yeung
    Story by

    Ken Yeung

    Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startup Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startups, parties, and interesting people. Follow him on Twitter, on Facebook, and Google+.

    Y Combinator co-founder Paul Graham has penned a post that says the accelerator will begin funding non-profit startups and organizations that are accepted into its program. The news comes following admission of Watsi last year, YC’s first-ever non-profit. Graham also clarifies that the investment the group makes will be in the form of a charitable donation and it will not have any “financial interest” in the organization.

    The decision to admit and fund non-profits was made with the hypothesis that these groups will benefit from the tutelage and resources YC provides more traditional startups. Obviously it worked with Watsi and that organization went on to raise a $1.2 million philanthropic round to help its medical crowdfunding platform. It even led Graham to accept a seat on its board — his first.

    The first opportunity a non-profit has is with the winter 2014 batch of startups as YC has opened up applications.

    Photo credit: Chris Jackson/Getty Images