I would assume companies applying to this RFS would be mostly in their later stages and probably already have some type of funding. A lot of these seem to requi

I would assume companies applying to this RFS would be mostly in their later stages and probably already have some type of funding. A lot of these seem to require significant costs up front. One thing that makes YC and other incubators so amazing is people who didn't grow up with a wealthy family and have financial obligations such as student loans can hack together a prototype over a weekend, apply to YC, and have almost as good of a chance of getting in as anyone else. I can totally see why YC would want to fund later stage companies though.