Y Combinator is a new kind of venture firm specializing in funding very early stage startups. We help startups through what is for many the hardest step, from idea to company.

We invest mostly in software and Web services. And because we are ourselves technology people, we prefer groups with a lot of technical depth. We care more about how smart you are than how old you are, and more about the quality of your idea than whether you have a formal business plan.

Very cool concept, the deadline for their second batch of funding is past but there's always next time. Basically they provide you all the money you need to survive for a few months during which you do nothing but work on developing a prototype and business plan -- in return they have an investment in your company should it succeed.

Put on your thinking caps