No More Y-C in Massachusetts
January 26, 2009 Leave a comment
(2 new updates at the bottom of this article)
Paul Graham has announced that the Y-Combinator seed fund will be pulling out of its Summer base in Massachusetts, diverting all its resources to its Silicon Valley operation instead. The reason given is because Graham and his wife are expecting a baby and they want to live and work in the West Coast only but I don’t get it. It seems that despite some criticisms, good things are happening with Y-C. Why shut one half of the operation down, couldn’t someone have continued the East Coast operation, couldn’t they have brought others in to keep it going? Is Massachusetts not that good for web/techie start ups after all?
The article that brought it to my attention is here.
Update (26.1.09): A good friend has highlighted me to Highland Capital who are also in Massachusetts. So, if your are disappointed with the prospect of no longer seeing Y-C in Boston, you could check out HCP (website here). Although they seem to be VC’s they do stoop down to seed funding also.
Has the Angel investment climate changed in Boston? Are tech startups struggling to get funding in the Boston area and was this a major factor in Y-C leaving Massachusetts? Read more here.
Update (23.2.09): Techstars take over Boston as Y-Combinator move out. Read more here.