https://www.wired.com/story/coronavirus-startup-accelerators-online-y-combinator/

Like so many tech founders, Timothy Carambat long dreamed of getting accepted into Y Combinator. The startup accelerator is famous for churning out influential companies, like Airbnb, Dropbox, and Stripe, growing them from seedlings into massive success. Carambat hoped his startup, a website that subleases pricey domain names, might one day be among them. In early March, he put in an application for YC’s summer batch, aiming to join 100 or so other startups in a three-month boot camp in the Bay Area.

Accelerators act like greenhouses for young startups, helping them grow faster and stronger in just a matter of months. Some of that support takes the form of seed investments, offered to batches of companies in exchange for a small amount of equity. But they also provide connections—to mentors, other founders, potential investors. And of all the accelerators out there, none has connections as coveted as YC. As a result, its program is among the most competitive: fewer than 3 percent of applicants get accepted.