from last years FAQ<p>""When the company is formed we set up a bank account. When the bank account is set up we deposit a check for the full amount of our commitment ie. 5 Lakh directly into it. A company secretary is brought in to distribute funds from the company checking account as per the budget instructions. Adjustments to the budget can be made at board meetings. Founders do not have direct check writing control of the bank account."<p>Has any of this changed? (If not this is a sucker deal, hardly "YC style")<p>earlier discussion <a href="http://news.ycombinator.com/item?id=842150" rel="nofollow">http://news.ycombinator.com/item?id=842150</a>
"In other words you think people just out fo school can't handle 10k$ without boarmeetings but you want them to build great companies for you"<p>Its one meeting to decide a budget and we're not going to demand a specific budget, the startup gets to decide how much money they're going to spend and on what. Whether they stick to the budget or not is up entirely to them, we aren't going to police their money at all.<p>We trust them to build awesome companies which is why we're funding them in the first place.<p>"YC-like, my ass"<p>While we're inspired incredibly by YC, there are certain things we do differently simply because of different constraints. There's a lot that we do that maybe YC doesn't do, we will subsidize your living costs & working costs as much as we can should you choose to work out of Delhi, Mumbai, Bangalore or Hyderabad for example.