Y Combinator Cut Back On African Startups, But New Plan Spells Rebound
- Y Combinator has backed over 100 African startups, including Flutterwave, Paystack, and Wave.
- The number of African startups accepted into YC dropped by more than half, from 24 in W22 to only 3 in W23.
- YC's global summer cohort was reduced by 40% in 2022 due to economic downturns.
While YC's recent cutbacks in African startup acceptance raise concerns, the introduction of a year-round program could signify a positive shift. It is crucial for YC to maintain a balance between expanding opportunities and ensuring the quality of mentorship and funding, especially as local ecosystems mature and alternative funding sources emerge.
