Y Combinator (YC), Silicon Valley's most prestigious startup accelerator behind global successes like Airbnb and Stripe , has long been a catalyst for early-stage founders worldwide. African startups have benefited significantly from YC's global expansion, with the accelerator backing over 100 startups on the continent, including fintech giants like Flutterwave , Paystack , and Wave .
However, recent trends have shown a sharp decline in the number of African startups accepted into YC cohorts, raising concerns about the future of YC's involvement in Africa. Yet, with YC's newly announced year-round program set to launch in 2025, there's reason to believe that this shift may offer a path to a rebound for African founders.
Scaling Back in Africa: A Sudden DeclineIn 2022, Y Combinator slashed its global summer cohort by 40%, a move attributed to the economic downturn and shifting venture capital landscape. African startups felt this cutback acutely, as the number of African companies accepted into YC dropped by more than half. The S22 batch included only eight African startups, compared to 24 in the previous W22 cohort-a staggering 63% decline.
This downsizing trend continued. In the W23 cohort, only three African startups made the cut. By W24, reports confirmed that only three African startups- Cleva and Miden -were selected, with Kenyan traveltech startup Triply completing the trio. This cutback didn't go unnoticed, with many founders voicing concerns about the shrinking opportunities for African startups in YC's once-welcoming embrace.
"We continue to be impressed with the talent and ingenuity of African founders," said Michael Seibel, YC's managing director, in a 2022 Techpoint report. Yet, despite this sentiment, YC's focus appeared to shift toward more U.S.-centric ventures. Over 90% of the W23 cohort was made up of U.S. startups, reflecting a growing trend of YC refocusing on its home market.
