Y Combinator, an elite Bay Area "accelerator" that provides support and expertise to startup businesses, has taken on a nonprofit organization for the first time and is considering further opening the program to charities, The Wall Street Journal writes.
Watsi.org, a "crowdfunding" platform to connect people who cannot afford needed medical procedures with online donors, joins 46 for-profit firms this month in the latest three-month Y Combinator class. Previous graduates of the Mountain View, Calif., accelerator include Reddit and DropBox.
Y Combinator founder Paul Graham said began considering such a move a year ago after talking to a friend who planned to launch a nonprofit group. "I realized I was giving exactly the same advice I'd be giving to a startup," he said.