Y-Combinator has been getting a lot of press recently. I would go as far as to say that it has reached the stage where its hype has run ahead of what it has delivered. This is not the fault of Y-Combinator and its founders but of technology / investment journalists looking for the next big thing.

What Y-Combinator has implemented is a new take on a tried and tested business development formula – the three C’s of success ….

Confidence, Commitment and Connections

These three things can take any individual or company (including Y-Combinator itself) a long way, no matter what the industry, or stage of business.

Confidence

In the start-up world many people will bash your ideas and thus your confidence. Once you have been selected as a Y-Combinator company your confidence should be at such a high that any bashing will just become “noise” that you filter out on your way to success.

Commitment

By asking the founders of a start-up to move to a new environment it tests their commitment to the idea and to the process of starting a new business. Much has been said of the benefit of moving to centres of entrepreneurship (Silicon Valley or Boston) but just as important is the “bootcamp” mentality that such a move can generate.

Connections

In the internet world it is rare that any idea is completely unique. Someone, somewhere is probably considering something similar. Success of one implementation over another is often a factor of brand awareness. The strength of your connections (and their connections) will have a big impact on how quicly your company can achieve critical awareness with customers, partners and financiers.

Y-Combinator has achieved a unique position in the venture capital world and the benefits of its structure should influence how other start-up funders structure their funds and investments. I don’t think that replicating their model in a place like Montreal is the way to go – but I do think that we do need to find our unique way of replicating the three C’s of success.