Why Accelerators Are Vital for Web3 Startups Working on Complex Challenges in 2023
In 2023, Web3 startups face complex and evolving regulatory challenges that require specialized support, due to which accelerators have emerged as a vital component of this support system, providing startups with the necessary resources and support to bring their ideas to fruition.
Further, according to a report by Outlier Ventures, there has been a significant increase in the number of blockchain startups, with over 3,000 active startups in the ecosystem. The same report notes that the blockchain industry raised over $20 billion in funding in 2021, with significant growth in sectors such as decentralized finance (DeFi) and non-fungible tokens (NFTs). T
These programs offer funding, mentorship, networking, and marketing opportunities to startups committed to pursuing web3 implementations over a multi-year timeframe. Further, in a survey by the Global Accelerator Learning Initiative (GALI), startups that participated in accelerator programs reported a 63% increase in revenue compared to non-participating startups.
Lisk Launches Accelerator Program for Startups Building Web3 Apps: A Game Changer for Web3 Innovation
Recently, the open-source web3 platform Lisk launched an accelerator program to support startups building web3 solutions. This program addresses the lack of support for web3 implementation and provides funding, mentorship, networking, and marketing opportunities for startups committed to pursuing web3 implementations over a multi-year timeframe. With the Lisk Accelerator Program, startups can access the support they need to turn their ideas into reality, driving innovation within the web3 ecosystem.
Lisk CEO Max Kordek said,
"Web3 applications can disrupt many industries, from finance to healthcare to supply chain management. They can eliminate intermediaries and enable trustless interactions, reducing costs and increasing efficiency. We believe that entirely new business models can be created. The Lisk Accelerator is our way to find and support those."
The major problem that startups face is the lack of support for web3 implementation. This is where Lisk’s accelerator program comes in, providing funding, mentorship, networking, and marketing opportunities for startups committed to pursuing web3 implementations over a multi-year timeframe.
In my opinion, the Lisk Accelerator Program is a game-changer for web3 innovation, offering four funding stages: Bootstrap Grant, Builder Grant, Booster Grant, and Breakout Grant. These grants provide startups with the necessary funding to develop and turn their ideas into reality. The program will operate in two phases, with Phase 1 running from March 20 - June 30, 2023, and Phase 2 set to operate from September 1 - November 30, 2023. The initiative will disburse grant funding of up to 250,000 CHF ($270K) per project. Lisk’s Javascript SDK makes it easy for developers to create their own Lisk-compatible sidechains and web3 applications. Its accelerator program will incentivize the development of Lisk’s tech stack and support web3 innovation.
About Lisk
Lisk is an open-source web3 application platform designed for interoperability with sidechains. Its JavaScript SDK gives developers a straightforward path into launching their own Lisk-compatible blockchains, enabling them to build scalable web3 applications. Each application has its own blockchain, allowing for virtually infinite customization. Lisk is committed to promoting the growth of web3 innovation, and its accelerator program is a step towards realizing this goal.
Don’t forget to like and share the story!
Image credits: DeepMind.
Vested Interest Disclosure: The author is an independent contributor publishing via our