Crypto projects and how they are developing themselves to make them sustainable for the requirements of the Web3 world is the main focus of the crypto leaders it seems. One of the leading crypto projects of India, Polygon MATIC, has recently launched a Web3 Accelerator, called Beacon. The projects is aimed at has been built by Web3 founders for Web3 founders; as says the Twitter bio.
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What is Beacon Accelerator?
The Beacon accelerator is the compact guidance package for Web3 startups. The accelerator provides Web3 startups with the support that they need to thrive. Participants can get access to funding, mentorship and resources curated specially for the Web3 startups!
Beacon Launch Day
Over 1000 projects took part in the Beacon Accelerator Demo day and only 15 were selected for Cohort 0. The Web3 accelerator launched their first cohort with 13 graduating companies. It has given the projects an open space for the project founders to provide a demo of their blockchain-based startups. The first 12-week cohort of this Web3 accelerator, which has been named as Cohort 0, started off in October with 15 companies. All of the companies were scattered across various crypto subsectors which included not only decentralized finance (DeFi) but also gaming and infrastructure! The demo day held by Beacon took place on January 10, 2023 and ended 13 graduating companies. They are: Arcana, Blinkmoon, ChapterX, Colexion, Community Gaming, Cubist, FastLane, Meta Apes, Mystic Moose, Nillion, Davos Protocol, Timeswap and Ylide.
Introducing Beacon Cohort 0! @jacqmelinek just covered the 13 incredible companies who graduated from Beacon’s inaugural cohort today. Read below to see who all was part of our first ever program🧵 https://t.co/VSkSDcxwCa
— Beacon Accelerator (@0xbeaconcom) January 10, 2023
Looking at the participants, founder of Polygon and the creator of Beacon, Sandeep Nailwal pointed out the 13 companies as the ‘MVP of Beacon’ as they are the first to demonstrate the Beacon accelerator’s chain-agnostic utility. Walking through the market while the FTX fiasco was breaking loose, the Cohort 0 dealt with the turmoil with significant adversity, commented Nailwal.
He also said, “We were worried that companies might start dropping out, so disheartened by the crypto markets. Instead, everyone turned up and was ready to keep building through this.”
Applications for the next set of participants are ongoing and are open till January 31, 2023.
Want to join these projects and founders as part of the Beacon community? Apply to Cohort 1! Applications are due January 31st: https://t.co/zBiEJjs2vJ
— Beacon Accelerator (@0xbeaconcom) January 10, 2023
The next set of Cohort, Cohort 1 is already looking at up to $8 million in funding already offered to 32 startups. Nailwal said the applicants for the Beacon accelerator participants will be evaluated as per their project team, global reach, community and Web3 product solution.
According to Cointelegraph Research, investments in Web3 dominated the venture capital scene over the past 12 months as investors have continued to support new internet startups.
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Source: Cointelegraph
