Polygon Co-founder Aims To Make Beacon The 100 Next Web3 Unicorns
- Beacon is a web3 startup accelerator founded by Polygon co-founder Sandeep Nailwal.
- The 100 next web3 unicorns are in Beacon’s views.
The web3 startup accelerator Beacon was founded by Polygon and Symbolic Capital co-founder Sandeep Nailwal.
The Beacon accelerator in New York has announced that it will provide early-stage cryptocurrency startups with guidance and funding. Beacon has already invested in 15 separate firms. He would not reveal the identities of the startups, saying only that they will be revealed in the new year.
Nailwal established Symbolic Capital in August with a $50 million fund, of which this accelerator is a subsidiary. Together with Kenzi Wang (co-founder of Symbolic Capital), Prateek Sharma (former vice president at Sequoia Capital), and Uri Stav (former chief security officer at Digital Currency Group), Nailwal manages the startup accelerator.
In order to help guide and fund startup entrepreneurs, the accelerator has created a 12-week program. Over 30 founders from 15 firms in fields as diverse as DeFi, infrastructure, and gaming participated in the program’s inaugural “Cohort 0,” which launched in October. To be considered for the next group, applications must be submitted by January 31. Along with SoftBank’s Neil Cunha-Gomes, Coinbase’s Dan Kim, Electric Capital’s Maria Shen, and Pantera Capital’s Paul Veradittakit, Beacon also counts these investors as advisors.
“We want to create the largest network of web3 founders in the world. Having gone through an accelerator before (Binance Labs), I can attest that the other founders in your cohort are the program’s best resource. We believe that as the number of founders in our alumni network grows, the quality of web3 projects as a whole will improve.”Nailwal stated
Beacon is creating a community for program participants and graduates to stay in touch with one another. Beacon boasts that it has created a bespoke platform for investors to examine ideas, view video pitches, research founder histories, and get personal introductions to company leaders.
Next month, Beacon will offer a live demo day where founders can present their products to over 300 investors. Ultimately, its goal is to produce the next hundred web3 unicorns.
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