NReduce has been really interesting and done a good job of trying for something different than YCombinator. In many ways it's much more of a complement to traditional startup incubators than a competitor.

Of the startups that I partnered with since June, about 15% have gone on to geographically located accelerators, a few have been acquired/hired for their product, a few have launched and not really gone anywhere and about half never got as far as launching a product.

Personally, I've gotten a huge amount of constructive feedback and a good handful of solid beta testers for my project.