Polygon founder launches Beacon Accelerator for Web3

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  • Polygon co-founder Sandeep Nailwal has helped launch a Web3-specific accelerator run by top Web3 veterans.
  • The Beacon Accelerator launched in October with a group of 15 companies and 30 founders
  • The inaugural cohort will run for 12 weeks and will see the founders pitch their projects to more than 300 leading Web3 investors in January 2023.

Sandeep Nailwal, co-founder of Blockchain Network polygon And Web3-focused investment firm Symbolic Capital has launched another founder-led project that aims to drive growth. Web3 ecosystem,

The new project Beacon Accelerator was launched today, 20 December 2022, led by some of the most prominent figures in the crypto and web3 space. This is a Web3-specific program by founders for founders, said Nailwal in a press release shared with coinjournal,

As such, Beacon’s founders draw from a variety of fields critical of Web3 development, including experts in legal, fundraising, security, and operations.

Key contributors driving the project along with Nailwal include former DCG Chief Security Uri Stay, former VP of Sequoia Capital Prateek Sharma and Symbolic Capital co-founder Kenjie Wang. This team of ‘Core Contributors’ will focus on topics as they mentor and advise Beacon’s founders including GameFi, DeFi, the Metaverse and consumer apps.

An inaugural cohort of 15 companies and 30 founders

Beacon’s inaugural cohort includes 15 companies and over 30 founders and launched in October. The twelve-week program provides access to top consultants and builders in Web3, delivered remotely from 12 cities in nine countries.

mentors The first cohort will be joined by names such as Jack Lu, co-founder and CEO of Magic Eden, Matt Liu, founder of Origin Protocol, and Coinfund partner Ivan Phang, founders, investors and operators of the ecosystem.

As noted in today’s press release, the inaugural event kicks off this January and will pitch projects to a gathering of over 300 leading Web3 investors during Demo Day that will be streamed live around the world.

Nailwal on setting up Web3 projects

Commenting on the launch of the accelerator program and its place in Web3 development, Nailwal said that the founding of the Web3 project is markedly different from that of Web2 startups. Founders may not follow the same playbook implemented in Web2 and Beacon will help projects navigate the ecosystem.

,Our ultimate goal is to build the largest network of Web3 founders in the world,” Nelwal said, adding that his experience after going through the Binance Labs accelerator had taught him something.

,I find that the greatest resource in any accelerator is the other founders who are going through the program alongside you. We think that as our alumni network grows, so will the overall quality of the projects being built at Web3, as founders help each other succeed,” she elaborated.

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