It appears that some time in November, Y Combinator changed its investment eligibility to only US, Cayman and Singapore companies. As linked in the Way Back Machine post, they had previously accepted Canadian companies but subsequently removed them from consideration. Has anyone seen any official news statements or posts considering this or has it simply been a sneaky move for them to discontinue investment in Canadian companies? Also open to any insight as to possible reasons for the change (e.g. taxes, tariffs, immigration, etc...).
From what I've heard, I think Canadian companies have been asked by YC to re-domicile in other countries now as a requirement for YC to invest. I believe some Canadian companies accepted into YC have received notices about this but I do not have any details as to why and haven't been able to find any public announcement. Lowkey sucks for Canadian tech startups who will now have to pay additional fees for a new parent corp and can't take advantage of Canadian tax credits/grants.
Please don't use multiple accounts to comment in the same thread.
I have a hunch that not a lot of Canadian people will be shedding tears about this news. If it's politically motivated it's of course very sad indeed, for YC and the US
Has this actually been confirmed by any official YC rep? Are they no longer investing in Canadians or companies that will remain incorporated and located in Canada?
There doesn't appear to have been any official announcements as of yet. However, I have heard through the grape vine that recently accepted founders with Canadian corps are being asked to re-domicile. You can also see the change by comparing the wayback machine post to the currently available version to see the removal of Canada. Hopefully we get more transparency from YC soon.
Well, I hope Canadian startups stay here in Canada and not leave.