Sound good in principle but there are a lot of people who want advice. You need to find a way to prioritise who would benefit most from your advice and connections. What better way to decide than to ask yourself "Who would I invest in?". Then you're back at the YCombinator model.
If someone can figure out how to make this work then great. I'm not sure YC will work without you narrowing applicants down and giving them money.
Perhaps instead of having a single team who advise founders you could have a self supporting community. Put all the startups in a coworking/barcamp like environment for a summer and tell them to help each other out and to share connections. It would be interesting to see how well they could do on their own. You still have the problem of where they would get money to stay alive without funding.
[sorry if this is incoherent, I'm sleepy. Will edit to make sense in the morning]
If someone can figure out how to make this work then great. I'm not sure YC will work without you narrowing applicants down and giving them money.
Perhaps instead of having a single team who advise founders you could have a self supporting community. Put all the startups in a coworking/barcamp like environment for a summer and tell them to help each other out and to share connections. It would be interesting to see how well they could do on their own. You still have the problem of where they would get money to stay alive without funding.
[sorry if this is incoherent, I'm sleepy. Will edit to make sense in the morning]