Y Combinator China's official microblog @Y Combinator start-up incubator announced at noon today that due to heavy workload, it is not expected to launch a localized YC China project until the second half of 2019. Meanwhile, YC China's winter start-up business in 2019 began formally. Recruit students.
YC China said that as the team is in transition, the current venture will invest in US dollar funds through the existing YC process, but will recruit more Chinese start-ups than before, and make adjustments to the existing process.
On August 15 this year, Y Combinator, a well-known American business incubator, held a media conference in Beijing and announced its entry into China. Lu Qi, former president and chief operating officer of Baidu, will be the founder and CEO of YC China and the president of Y Combinator Global Research Institute.
Lu Qi said YC China will be completely localized, the team will be formed by top Chinese talent, and establish a RMB fund to fully help Chinese entrepreneurs. YC China plans to localize the investment experience of the United States, raise funds locally, and introduce American methodologies to entrepreneurship training. Besides, YC and China will repay China's society in scientific research and public welfare.
But at that time, Lu Qi did not announce YC China related timetable. In a follow-up interview with Sina Technologies, Mr. Lu said YC China was still setting goals for this year because it had just been established. He tends to plan for 3 years to guide each specific field.