Y Combinator Hosting Exclusive Contest via Snapchat

Tech Crunch
Y Combinator (YC), a startup incubator, is using Snapchat to find its next project. With the help of Justin Kan, investor, entrepreneur and an old hand at live-streaming, the company is instituting an exclusive Snapchat contest targeted at millennials who account for more than 7 out of 10 Snapchat users, according to Mediakix.

Successful startups are what YC prides itself on, with Reddit, Dropbox, and AirBnB under their belt in addition to a laundry list of other startups. A visit to the YC website will showcase a fresh-faced, exciting company that is constantly accepting applications for new companies and ideas. A numbered list of information tells visitors all that they need to know about submitting an application for funding.

Contestants should submit a formal application on the company website before submitting video content. Starting this week, YC will begin reviewing these applications to pick out those worthy of consideration. Once the finalists have been selected they will have a one-hour slot to appeal to the investors. Each contestant will get a chance to takeover Kan's Snapchat by logging onto his account and showcasing anything possible to sell their idea.

For those of you not quite so savvy in the business market, rest assured that the entire ordeal will be on Kan's Snapchat from May 23rd to 26th. Those watching will also get a chance to vote for their favorite by taking a screenshot.

Uncluttered White Spaces

The winner of the contest will receive a chance to interview for the Y Combinator Fellowship which includes $20,000 and advice from the community for 8 weeks. Seems a bit of  slap in the face to reward the winner with an interview rather than an actual prize, but Kan insists that it's more to sound out whether a working relationship will flourish before fully investing.

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