Applications for YC Summer 2016 batch and YC Fellowship programs are now open.

Both programs will use the same application form. In the application, you’ll simply select which of the two you’re applying for. Here’s a brief description of each program:

YC Core:

• 3 month program
• $120k funding for 7% equity
• The YC Core program funds companies from a broad range of categories (software, hardware, biotech, non-profit, etc.) and at any stage. Read more about what happens at YC here.

YC Fellowship:

• 8 week program
• $20k funding for 1.5% equity
• Equity only converts if company hits $100M+ valuation event.
• The Fellowship program is a lighter version of YC Core specifically for idea and prototype stage companies. That doesn’t mean idea stage companies can no longer apply to YC Core, but we want to create more opportunities for idea-stage companies to get started. Read more about the Fellowship program here.

If you’re unsure which program best applies to you, apply to both! The YC partners can decide which program your application is best suited for.

To apply, submit your application here by 8pm PT on March 24, 2016.

We can’t wait to see what you’ve been working on. Email apply@ycombinator.com with any questions.