• Sandeep Nailwal’s Beacon Accelerator has announced the first 13 companies to participate in its startup accelerator program.
• These companies will receive $250,000 each for an $8 million post-money valuation.
• Beacon was launched late last year with the goal of helping Web 3 founders navigate the challenges of the industry.
Sandeep Nailwal, the founder of Polygon, has unveiled the first 13 Web 3 companies to participate in Beacon, his recently launched startup accelerator. This accelerator program aims to help Web 3 founders navigate the challenges of the industry by providing them with weekly sessions and mentoring.
Beacon spoke with over 1000 projects during the selection process, and expects to have a similarly low acceptance rate for its next cohort. The 13 companies that have been accepted into the program will each receive $250,000 in support, for an $8 million post-money valuation.
Nailwal announced Beacon’s launch late last year, with the goal of fostering Web 3 growth and providing the industry with the resources it needs to succeed. Beacon’s weekly sessions and mentoring will help startups build a community, market themselves, and launch their product. The program also provides the participating companies with access to a network of investors and mentors that are part of the Beacon Network.
The 13 companies that have been selected to participate in Beacon’s first cohort come from a variety of industries. These include companies that specialize in blockchain, decentralized finance, and NFTs. Some of the companies include: ChainSafe, a blockchain infrastructure provider; DeFi Money Market, a decentralized finance platform; and Nifty Gateway, an NFT marketplace.
The selected companies will receive guidance, advice, and funding over the course of the accelerator program. They will also get access to a network of investors and mentors through the Beacon Network.
Beacon is hoping to replicate the success it had with its first cohort with its second cohort. It is currently accepting applications for its next cohort, with a similarly low acceptance rate expected.
The startup accelerator is also planning to expand beyond its current focus on Web 3 companies, and is looking to add more industries to its program.
Beacon is a great opportunity for startups to get the resources and guidance they need to succeed in the industry. It is also a great way for investors to get in on the ground floor of some of the most promising startups in the Web 3 space.