YC Fellows will receive a $12,000 grant and advice from the YC community for 8 weeks (from mid-September to mid-November) to go from an idea to a startup. Fellows need an idea or a prototype and the ability to work on this full-time for 8 weeks.
YCombinator expect that most teams will apply with 2-3 co-founders, but as always we’ll consider solo founders too. This program is meant for founders who haven’t raised money from investors or participated in an accelerator.
Selected teams are strongly encouraged to move to the Bay Area for the program, but it’s not required.
For more details log on to http://fellowship.ycombinator.com