The American seed accelerator Y Combinator is looking for startups to invest in that are looking for ways to respond to the coronavirus pandemic.
Y Combinator announced Wednesday, March 25, they wanted to invest in startups working on the following areas in light of the spread of COVID-19:
Tests / diagnostics
Treatments and vaccines
Equipment for hospitals
Ways to reduce transmission
Monitoring and data infrastructure
Y Combinator added startups seeking funding in this sector will "will have to move faster than most people think is possible" to actually impact the current coronavirus crisis. "This means the founders need to have domain expertise in the area; they also need to have a plan for how to have a significant impact globally in a short timeline. They also need to have a path to building a sustainable business after the crisis is over," the group added.
More than 25 Y Combinator startups are already working on some things to help – from working on producing on producing better tests, treatments, and vaccines, to setting up support systems for researchers, hospitals, and healthcare providers – including tech-based augmentation for hiring more medical staff to COVID-19 triage and tracking.
Currently, about a dozen investment firms have collectively pledged to invest more than $30 million in companies pursuing COVID-19 programs in the coming weeks.