Whole Reach

WholeReach · industry directory

Incubators & Accelerators

The companies that define the incubators & accelerators industry, each read on the same nine-check website rubric — a 0–100 score with the exact fixes — alongside the concepts, the developments and the questions that shape the field.

36companies tracked
29sites scored
75average site score
7blocked our scanner

The companies

29 companies in the incubators & accelerators industry, each graded on the nine things that decide whether a buyer or an AI assistant can find and trust them online. Open any name for the full write-up and the specific fixes.

CompanyHQ / regionSite score
AngelListwww.angellist.comUS (San Francisco, CA)100 0 to fix
Capital Factorywww.capitalfactory.comUS (Austin, TX)100 0 to fix
Notionwww.notion.comUS (San Francisco, CA)100 0 to fix
Circlecircle.soUS (New York, NY)92 1 to fix
Entrepreneur Firstwww.joinef.comUK (London; global)92 1 to fix
Gustgust.comUS (New York, NY)92 1 to fix
Techstarswww.techstars.comUS (global)92 1 to fix
Affinitywww.affinity.coUS (San Francisco, CA)88 1 to fix
Antlerwww.antler.coSingapore (30 locations globally)88 1 to fix
TMC Innovationwww.tmc.edu/innovationUS (Houston, TX)84 2 to fix
500 Global500.coUS (Bay Area, global)82 2 to fix
South Park Commonswww.southparkcommons.comUS (San Francisco / New York)82 2 to fix
Alchemist Acceleratorwww.alchemistaccelerator.comUS (Silicon Valley)80 2 to fix
Founder Institutefi.coUS (Palo Alto; global chapters)80 2 to fix
gener8torwww.gener8tor.comUS (50+ communities)80 2 to fix
Slackslack.comUS (San Francisco, CA)78 2 to fix
Airtablewww.airtable.comUS (San Francisco, CA)70 3 to fix
DivIncdivinc.orgUS (Austin, TX)70 3 to fix
High Alphawww.highalpha.comUS (Indianapolis, IN)70 3 to fix
Newlabwww.newlab.comUS (Brooklyn, NY; Detroit, MI)70 3 to fix
AngelPadangelpad.comUS (New York / San Francisco)62 4 to fix
Atomicwww.atomic.vcUS (San Francisco / Miami)62 4 to fix
Austin Technology Incubator (ATI)ati.utexas.eduUS (Austin, TX)60 4 to fix
Sourcescrubwww.sourcescrub.comUS (San Francisco, CA)58 4 to fix
StartXweb.startx.comUS (Palo Alto, CA)58 4 to fix
Plug and Play Tech Centerwww.plugandplaytechcenter.comUS (Sunnyvale, CA; global)50 5 to fix
Sputnik ATXwww.sputnikatx.comUS (Austin, TX)50 5 to fix
Y Combinatorwww.ycombinator.comUS (San Francisco Bay Area)50 5 to fix
MassChallengemasschallenge.orgUS (Boston; global)27 7 to fix

70+ solid   45–69 gaps   under 45 costing customers

Sites we couldn’t reach

7 businesses whose website blocked our scanner — common when a site filters datacenter traffic, and not a sign the site is broken. A blocked site is never scored zero.

Carta · carta.com ↗F6S · www.f6s.com ↗HAX · hax.co ↗IndieBio · indiebio.co ↗SKU · sku.is ↗SOSV · sosv.com ↗Tech Ranch Austin · techranchaustin.com ↗

Who defines the incubators & accelerators market

The firms, funds and institutions that set the terms in incubators & accelerators — context, not local listings; never scored.

500 Globalcompetitor

Venture firm with $2.3B AUM running a Flagship Accelerator plus regional programs and VC Unlocked investor education. Reports 3,000+ startups backed across 80+ countries with 35+ companies valued above $1B. Its distinguishing thesis — 'talent lives everywhere, capital and opportunity does not' — makes it the main competitor for founders outside the US hubs.

Affinitytechnology source

Relationship-intelligence CRM built for investors and programs, mapping who in the network already knows a target so warm intros can be manufactured instead of guessed. The tooling layer under the mentor network, alumni network and pipeline-conversion metrics.

Airtabletechnology source

Relational-database-as-spreadsheet used to run application review workflows, scoring rubrics, mentor matching and cohort reporting. Together with Notion it is the actual back office of the majority of programs below the top tier.

Alchemist Acceleratorcompetitor

Six-month program for technical founders selling to enterprises, now focused on AI-SaaS and deep tech that monetizes from enterprise buyers. Roughly 5% equity for a small SAFE investment averaging about $30,000 net of tuition offset, with 750+ startups accelerated, 70+ acquisitions, $5B+ raised by alumni and 7,000+ mentors.

AngelListtechnology source

Runs the rails for syndicates, rolling funds, SPVs and fund administration that many accelerator-attached investment vehicles are built on, plus cap-table and equity tooling. The default infrastructure for a small program that wants to invest without standing up a traditional fund.

AngelPadcompetitor

Long-running, deliberately tiny-batch accelerator known for high per-company partner attention and a strong follow-on record. STATUS: its own site states 'The application is currently closed,' with no next cohort announced — treat as dormant pending confirmation.

Antlercompetitor

Backs individuals before companies exist, pairing founders into teams during location-based cohorts and writing the first check, then following on through its Antler Elevate scale-up fund. Reports 1,800+ portfolio companies and a 12,000-person founder community, with heavy recent AI concentration.

Atomiccompetitor

Venture studio that originates company ideas internally and recruits operators to run them, holding a large founding stake and providing shared engineering, design, recruiting and growth. The reference case for studio equity splits and the EIR-to-founder pipeline.

Austin Technology Incubator (ATI)competitor

Founded 1989 and described as the longest continuously operating technology incubator in the US, ATI is the deep-tech incubator affiliated with UT Austin and a unit of the university's Discovery to Impact initiative. Seven verticals — circular economy, energy, food and agtech, healthcare, microelectronics, mobility, water — plus IMPACT Lab, Southwest I-Corps, student programs and the TEXVMS venture mentoring service.

Capital Factorycompetitor

Founded 2009 and now positioned as 'a Texas venture firm — the most active early-stage investor in Texas.' Runs the Texas Fund investing seed through Series C in deep and frontier tech (Apptronik, Saronic, Paradromics, Colossal) alongside All Access, a membership program taking roughly 100 companies a year on common stock rather than cash investment — an ecosystem front door rather than a fixed-cohort accelerator.

Cartatechnology source

Cap-table, SAFE, 409A valuation and fund administration software — the system of record where program equity, post-money SAFEs, vesting schedules and dilution actually get tracked. Its aggregate data is also a widely cited source on dilution and round terms.

Central Texas Angel Networkauthority

Founded 2006, an independent nonprofit member-based network of about 140 accredited investors reporting 233 companies funded, $142.4M invested, 57 exits, a 4.3x return on cash and a 28% IRR. The most common first institutional-adjacent check for Austin accelerator graduates and a key demand-side counterparty for local programs.

Circletechnology source

Purpose-built community platform used by programs that want a persistent, searchable alumni and member community with courses, events and gated spaces rather than an ephemeral chat workspace. Common under membership-revenue and cohort-based education models.

Crunchbaseauthority

The most widely used open database of companies, funding rounds and investors, and the practical way to check whether a program's alumni actually raised follow-on capital. Coverage skews to announced rounds, so it undercounts quiet and non-dilutive funding.

DivInccompetitor

501(c)(3) headquartered on West 6th Street in Austin running accelerators including Innovation & Influence and Women in Tech plus a NextGen startup internship, with past cohorts in sports tech, clean energy, social impact and Web3. Reports $15M+ raised by portfolio companies, 200+ jobs created, $300K in equity-free grants and 62% female founder participation.

Entrepreneur Firstcompetitor

The original talent-investor model — selects individuals on technical and domain strength, then supports co-founder formation and company creation inside the cohort. Direct competitor to Antler for the same day-zero founder pool, with a stronger deep-technical and research-spinout skew.

Ewing Marion Kauffman Foundationauthority

The foundation whose research defines how entrepreneurship and new-firm formation are measured in the US, and a major funder of ecosystem-building and entrepreneur support programs. Its indicators and reports are the standard citation for claims about startup rates, founder demographics and ecosystem health.

F6Stechnology source

The most widely used application and program-management platform for accelerators, incubators and grant programs, hosting open calls and cohort applications globally. Where a large share of the world's accelerator applications are actually submitted and reviewed.

Founder Institutecompetitor

Part-time, globally franchised pre-seed program for people still holding a day job, run through local chapters with a shared equity-pool structure rather than a cash investment. Operates at the idea stage that equity accelerators will not touch, which makes it a feeder rather than a rival for the top programs.

gener8torcompetitor

Runs both $100K twelve-week investment accelerators and free non-dilutive gBETA-style programs, plus skills, creative and corporate tracks, across 50+ communities. Reports 450+ accelerators run, 2,200+ startups supported and $3.8B+ raised. The reference model for economic-development-funded programming in non-coastal metros.

Greater Austin Chamber of Commerceauthority

Convenes Austin's business community and publishes regional economic, talent and industry-cluster data. Its programming and reporting are a primary channel through which local founder-support organizations reach employers, sponsors and civic funders.

Gusttechnology source

Long-running platform for startup applications, angel group deal management and incorporation, used by accelerators and angel networks to run intake and screening. One of the original pieces of infrastructure for the incubator and angel field.

HAXcompetitor

SOSV's hard-tech program, backing industrial, robotics, climate and supply-chain hardware with significant capital and prototyping support. Relocated its US base to Newark with state and institutional backing — a live example of economic-development money reshaping where hard-tech programs sit.

High Alphacompetitor

Venture studio and fund focused on B2B SaaS, co-creating companies from internal concepts and funding them through an attached venture vehicle. The strongest non-coastal studio example and the model most often copied by regional economic-development-backed studio efforts.

Incubators & Accelerators guides

Program types and how to choose

Incubator vs accelerator vs venture studio vs foundry vs pre-accelerator vs university program — what each actually provides, what each takes, and which fits a company at pre-idea, pre-seed, or post-revenue stage. The single most-searched orientation question in the category and the natural top-of-funnel pillar.

Applying and getting in

Application mechanics, the selection funnel from applicants to interviews to offers, acceptance rates, what reviewers actually screen for, reapplying after rejection, and deadlines by program. High-intent, deadline-driven, and refreshes every cohort cycle.

Deal terms and dilution math

Standard deals, SAFEs, post-money vs pre-money, MFN provisions, pro rata rights, tuition offsets, and the cap-table arithmetic of giving up 6-8% before a priced round. Founders search this before they search anything else about a program.

Demo day and the raise that follows

How demo day and pitch day work, what a program's investor day is actually worth, pitch structure, the post-demo-day raise window, and how much of a program's value is the introductions rather than the check.

Equity-free and non-dilutive paths

SBIR/STTR Phase I and II, NSF I-Corps, state and federal grants, prizes, equity-free accelerators and revenue-based alternatives — the whole route for founders who will not sell equity for a program seat. Especially load-bearing for hard tech and research spinouts.

University incubators and tech transfer

Campus incubators, technology licensing offices, Bayh-Dole, licensing agreements, sponsored research, student and faculty spinouts, and equity splits between founder and institution. Austin's ATI — founded 1989 and the longest continuously operating technology incubator in the US — is the reference case.

Hard tech, deep tech and wet lab programs

Programs built for physical and life-science companies: wet lab vs dry lab space, shared equipment, prototyping, longer timelines, bigger checks, and why software accelerator economics do not transfer. Covers HAX, IndieBio, Activate-style fellowships and university deep-tech incubators.

Vertical and industry programs

Healthtech and medtech, CPG and consumer, climate and energy, fintech, space and defense, mobility, agtech, and AI-native cohorts. Vertical programs are where mentor networks and corporate partners create real advantage over a generalist batch.

Mentorship, EIRs and office hours

How mentor networks are recruited and matched, entrepreneurs in residence, office-hours cadence, mentor whiplash and how good programs manage it, and the difference between a mentor list and a mentor network that answers the phone.

Venture studios and co-founder matching

The studio and foundry model — ideas generated in-house, teams assembled around them, studio equity splits, EIR-to-founder pipelines — plus day-zero co-founder matching programs like Antler and Entrepreneur First that back people before companies exist.

Corporate innovation partnerships

Corporate-sponsored accelerators, scouting and pilot programs, the innovation-partner sponsorship model, procurement pilots as the real prize for startups, and why corporate innovation budgets are the most cyclical funding source in the field.

Measuring a program

Follow-on funding rate as the real KPI, graduation rate, survival rate, alumni outcomes, portfolio markups, and how to read a program's published stats critically — including which numbers are cumulative vanity metrics and which are current cohort performance.

Running a program — operations

Cohort ops: application review workflows, curriculum design, session scheduling, mentor CRM, cap-table and SAFE administration, reporting to sponsors and LPs, and the Notion/Airtable/Slack/Circle stack most small programs actually run on.

Program business models and funding

How programs pay for themselves — equity upside, management fees on an attached fund, corporate sponsorship, membership revenue, tuition, real-estate-subsidized models, university budgets and economic-development grants — and the sustainability problem underneath the 2023-2025 closures.

Austin and Central Texas ecosystem

Capital Factory, the Austin Technology Incubator, DivInc, SKU, Sputnik ATX, Tech Ranch Austin, Central Texas Angel Network, SXSW Pitch and the Greater Austin Chamber's economic-development arm — who funds what, who feeds whom, and how the ecosystem changed after pandemic-era in-migration.

Regional ecosystems and economic development

MSA and regional cluster strategy, federal Tech Hubs and Build to Scale funding, state incentive programs, university-anchored clusters outside the coastal hubs, and the honest question of whether a mid-size metro can manufacture deal flow with program dollars.

Concepts

Cohort
The group of companies moving through a program together. Cohort size sets the economics on both sides — more companies means more shots on goal for the program and less partner attention per founder.
Batch
One time-boxed run of a cohort-based program, usually 3-6 months with a fixed start and a demo day at the end. 'Batch' and 'cohort' are used interchangeably, though batch emphasizes the calendar and cohort emphasizes the group.
Demo day
The closing event where a batch pitches investors. Its real function is manufacturing a compressed fundraising window — many companies at once, all raising in the same two weeks, which creates urgency no solo raise can.
Pitch day
A competitive pitch event that is not attached to a program cohort — SXSW Pitch is the best-known example. Selection, judging and prizes replace curriculum; the payoff is exposure and investor contact, not equity investment.
Standard deal
A program's published, non-negotiable investment terms, offered identically to every company in the batch. Y Combinator's is the reference point: $500,000 total, structured as $125,000 on a post-money SAFE for 7% plus $375,000 on an uncapped SAFE with an MFN provision, and no fees charged to companies.
SAFE
Simple Agreement for Future Equity — the standard instrument for accelerator investment. It converts to stock at a future priced round rather than being equity or debt today, which is why programs can invest without setting a valuation.
Post-money SAFE
A SAFE whose cap is set on the post-money valuation, so the investor's percentage is fixed and known at signing and later SAFEs dilute the founders rather than the earlier SAFE holder. The dominant form since 2018 and the reason stacked SAFEs now produce predictable, and sometimes brutal, founder dilution.
MFN (Most Favored Nation)
A provision letting an uncapped SAFE holder adopt the terms of any better SAFE the company issues before a priced round. It lets a program invest without pricing the company — the second tranche of YC's $375,000 works this way.
Pro rata rights
The right to invest again in later rounds to maintain ownership percentage. For a program this is where most of the eventual return lives — the initial batch check is small; the follow-on right on the winners is the asset.
Dilution from program equity
The permanent ownership cost of a program seat. A 6-8% bite before a priced round compounds through every later round; the honest test is whether the program's introductions and follow-on rate raise the company's outcome by more than that percentage.
Equity-free grant
Cash given with no ownership taken — typical of nonprofit, university, corporate-sponsored and economic-development programs. DivInc, for example, reports distributing $300K in equity-free grants to its portfolio.
Non-dilutive funding
Any capital that does not take equity: grants, prizes, SBIR/STTR awards, revenue-based financing, customer prepayments. For hard tech and life science it often exceeds the equity raised in a company's first three years.
SBIR/STTR Phase I and Phase II
Federal small-business R&D awards. Phase I funds feasibility at roughly six figures over 6-12 months; Phase II funds development at roughly seven figures over about two years. STTR requires a formal research-institution partner; SBIR does not.
I-Corps
The NSF's customer-discovery training program, built on running structured customer interviews to test commercial hypotheses before building. Regional I-Corps hubs are run through universities — ATI hosts Southwest I-Corps — and completion is a de facto prerequisite for many federal follow-on awards.
EIR (Entrepreneur in Residence)
An experienced operator embedded in a program or fund, either advising cohort companies or incubating a company to found themselves. In venture studios the EIR track is the primary founder-sourcing pipeline.
Mentor whiplash
The disorientation of getting contradictory advice from many mentors in a short window — the signature failure mode of mentor-driven accelerators. Well-run programs address it explicitly: mentors advise, founders decide, and one lead mentor holds continuity.
Office hours
Scheduled one-to-one sessions between founders and partners or mentors, the core delivery mechanism of most programs. Frequency and who shows up — partners or junior staff — is the most reliable quality signal in a program.
Curriculum
The structured content of a program: sessions on pricing, sales, hiring, fundraising, metrics, legal. Curriculum is the commodity layer — it is what a program can be copied on, unlike its network and its selection.
Milestone-based tranching
Releasing program capital in stages against agreed milestones rather than as one upfront check. Common in corporate, university and grant-funded programs; rare in classic equity accelerators, where the full check lands at the start.
Incubator vs accelerator vs venture studio vs foundry
An incubator houses and supports companies on an open-ended timeline, often with space and often equity-light. An accelerator runs fixed-length cohorts, usually invests, and ends in demo day. A venture studio or foundry originates the idea itself and assembles the team, taking a large founding stake. The words are used loosely in marketing — read the terms, not the label.
Studio equity split
The ownership division between a venture studio and the operating founders it recruits. Studios typically hold a large founding position — commonly 30% or more — justified by having supplied the idea, capital, and shared engineering, design and recruiting functions.
Co-founder matching
Programs that back individuals before companies exist and pair them into founding teams during the cohort — the Antler and Entrepreneur First model. Selection is on the person, and the program's core product is a curated pool of potential co-founders.
Sweat equity
Ownership earned through work rather than cash — the founder's own stake, and how advisors and early team are often compensated. It is the reason vesting schedules exist: unvested sweat equity walking out the door is the most common early cap-table disaster.
Vesting and cliff
Founder and employee shares earned over time, standard four years with a one-year cliff, so someone who leaves in month eleven takes nothing. Programs routinely require founders to reset or install vesting as a condition of investment.
IP assignment
The formal transfer of relevant inventions and code from individuals into the company. Diligence killer when missed — code written at a prior employer, or research done on university equipment, can leave ownership genuinely unresolved.
University tech transfer and Bayh-Dole
The Bayh-Dole framework lets universities retain title to inventions made with federal funding and license them out, which is why campus technology-licensing offices exist and why a research spinout's IP usually belongs to the institution before it belongs to the founders.
Licensing agreement
The contract by which a spinout licenses university IP — exclusive or non-exclusive, with upfront fees, royalties, equity, milestone payments and diligence obligations. Terms here shape the company's economics more than any accelerator deal will.
Sponsored research
A company funding work in a university lab, typically with negotiated rights to resulting IP. Common for deep-tech startups that need instrumentation or expertise they cannot yet afford in-house, and a frequent bridge between a campus incubator and a real company.
Wet lab vs dry lab space
Wet lab handles chemicals and biological material and needs benches, fume hoods, casework, waste handling and specific ventilation and permits; dry lab is computation and electronics on ordinary office infrastructure. Wet lab is expensive, scarce and the binding constraint on life-science incubators.
Hard tech vs software program economics
A software batch can be run on a small check, three months and no facilities. Hard tech needs bigger checks, longer runway, prototyping and lab space, so its programs depend on grants, corporate partners, universities or a dedicated fund rather than batch equity alone.
Cohort selection funnel
Applications to screens to interviews to offers to accepted. Each stage's conversion rate tells you where a program's constraint is — weak top of funnel means a marketing problem; weak offer acceptance means it is losing candidates to better programs.
Acceptance rate
Offers divided by applications. Low single digits at the top programs, and heavily marketed as a quality proxy — but it measures applicant volume as much as selectivity, and a program can lower it simply by advertising harder.
Graduation rate
Share of a cohort that completes the program. Near-universal at equity accelerators, where completion is nearly automatic, and genuinely meaningful only at incubators and grant programs that enforce milestones and can remove companies.
Follow-on funding rate
The share of graduates that raise an institutional round afterward, and the metric practitioners treat as the real credibility test of a program — it measures whether the market revalued the company, not whether the program filled seats.
Alumni network
The community of past participants — the compounding asset that distinguishes a decade-old program from a new one. Its practical value is measured in warm intros, hiring, customer referrals and later-round investor access, not in headcount.
Corporate innovation partner
A large company sponsoring or co-running a program to get early access to startups, pilots and acquisition targets. For participants the prize is a procurement pilot inside the sponsor; for the program it is the sponsorship revenue that funds operations.
Sponsorship revenue model
Funding a program from corporate, government and service-provider sponsors rather than from equity returns. It makes a program cash-flow viable immediately and structurally cyclical — sponsorship is a marketing budget line and it gets cut first.
Membership revenue
Recurring fees for access to a program's community, space, events, mentors and investor network without a cohort commitment. Capital Factory's All Access program — roughly 100 companies a year — is the model, and it decouples ecosystem revenue from batch cadence.
Real-estate-subsidized model
An incubator funded by the building it occupies — below-market space from a university, city, developer or corporation, with the program layered on top. Durable, because it survives on rent rather than exits, but it drifts toward being a landlord with programming.
Economic development grant funding
City, county, state and federal money for programs that create local jobs and companies. It pays for equity-free programming, but it comes with reporting obligations, geographic restrictions and political timelines that do not match startup timelines.
MSA / regional cluster strategy
Building a program around a metropolitan statistical area's actual industrial strengths — Houston's medical center, Austin's semiconductor and software base — instead of copying a generalist Silicon Valley batch into a market with no matching deal flow.
Deal flow
The stream of companies a program sees. It is the true scarce input — capital, curriculum and mentors are all purchasable, while a differentiated flow of applicants no other program sees is the only lasting advantage.
Warm intro
An introduction from someone the recipient trusts. Most of what founders are actually buying with program equity is the conversion of cold outreach into warm intros — to investors, to enterprise buyers, and to senior hires.
Pipeline conversion
Movement rates between stages — applicant to accepted, graduate to funded, intro to meeting to term sheet. Programs that instrument this can tell which mentors, sponsors and channels actually produce outcomes instead of activity.
Tuition and tuition offset
Some programs charge founders directly, or net a fee out of the investment. Alchemist, for example, reports an average net investment to companies of about $30,000 after tuition offset. Any program charging tuition should be judged as a paid service, not as an investor.

What’s happening

Questions people ask

What is the difference between an incubator, an accelerator and a venture studio?

sort them by whether they take equity, run fixed cohorts, provide space, and whether they start the company themselves; those four axes explain almost every other difference

What is a cohort or batch?

a group admitted and run together on one calendar; note that many programmes have moved to continuous or membership models instead

What is demo day?

the programme's investor showcase at the end of a batch; be clear it is a marketing event for both sides, not a funding guarantee

What is a post-money SAFE?

the cap is set after the SAFE money is counted, so the founder's dilution is fixed and known at signing; that shift is the reason stacked SAFEs dilute more than founders expect

What is an MFN clause on a SAFE?

most favoured nation lets the holder adopt better terms given to a later investor; explain that it converts an uncapped note into whatever the next cap turns out to be

What are pro rata rights?

the right to keep investing to hold a percentage in later rounds; describe the effect on a founder's future cap table

What is mentor whiplash?

contradictory advice from many mentors in a short window; the useful framing is that mentors are inputs, not decisions

What is an entrepreneur in residence?

an experienced operator attached to the programme, sometimes looking for their own next company; say that the incentive varies and is worth asking about

How does a venture studio split equity with founders?

studios take a much larger share than accelerators because they supply the idea, the team and early capital; the split is negotiated per studio so describe the range of structures, not a number

What are SBIR and STTR?

federal non-dilutive research funding awarded in phases by agency; note the programme now carries additional due-diligence requirements and has run on short-term authorisations

What is I-Corps?

a federally funded customer-discovery programme, often a prerequisite culture step before SBIR; it is training plus a small grant, not an investment

What is Bayh-Dole and how does university tech transfer work?

it lets universities own inventions from federally funded research and license them out; the licence terms, not the science, are what a spinout negotiates

What does equity-free actually mean for a programme?

no equity taken, but check for warrants, fees, revenue share or a right of first refusal buried in the agreement; equity-free is a claim to verify in the document

How much equity does an accelerator take?

terms have converged around the post-money SAFE but the specific stake differs by programme; point at each programme's published deal instead of quoting a share

What is Y Combinator's standard deal?

YC publishes it openly - a fixed post-money SAFE plus a larger uncapped MFN SAFE, with pro rata and no fees; cite the published deal page and let it carry the numbers

How much am I really diluted by a programme SAFE plus a seed round?

show the stacking method - programme SAFE, batch SAFEs, option pool, then the priced round - and let the founder run it on their own cap table

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