Y Combinator partners break down start-up barriers

In a panel hosted by Weiss Tech House , three company founders shared their experiences building businesses from the ground up. The common thread: you can’t go at it alone.

In their first appearance at Penn, Qasar Younis and Dalton Caldwell , partners at Y Combinator , fielded questions on Tuesday from an audience of about 60 in Steinberg-Dietrich Hall. Reham Fagiri , a 2012 Wharton MBA graduate, began the event by speaking about how Y Combinator helped fund her company.

Y Combinator, a startup funder, is known for funding the ideas behind companies like Dropbox, Reddit and TwitchTV. The company also provides ten week training programs to help startups grow and attract investors.

Fagiri explained how Y Combinator’s training was invaluable in teaching her the importance of personal connections while developing AptDeco , an online marketplace for used furniture in New York City. When challenged during the program to expand her company by 10 percent, Fagiri discovered from visiting sellers’ homes that many were actually couples expecting a child. This led AptDeco to design a marketing campaign targeted at new mothers which led to an increase in revenue.

The panel addressed the difficulties entrepreneurs face when starting from scratch. The long periods of financial uncertainty make the process emotionally trying, Younis said.

Caldwell highlighted balancing vision and determination with the often-overlooked trait of humility. “People think founders are supposed to be really fancy people,” he said. “But really great founders are willing to do the nasty, hands-on stuff. Think about all the times people say no to you, slam the door in your face, tell you your product is stupid. You really need the right type of personality to be humble.”

The high-intensity work environment can be too much to handle for some new companies. Many entrepreneurs give up because of fatigue or internal conflict, Younis explained.

To combat this, the panelists suggested working with co-founders with whom you’ve had a strong history. Caldwell stated that he knew of co-founder partnerships that lasted longer than marriages, triggering laughter from the audience.

When asked if founding a company while attending Penn was good idea, the Y Combinator’s partners answered with a resounding no. Younis and Caldwell both agreed that undergraduate years are a time to learn. Caldwell encouraged Penn’s eager entrepreneurs to focus on making connections.

“There is never a better time in your life to meet people you might want to start a company with,” Caldwell said.

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