We have a new Web3 accelerator program that has just started in the United Kingdom. It’s positioned to have a major hand in producing the next wave of blockchain local startups. The effort is supported by big names in the industry like Fabric Ventures, Animoca Brands, Coinbase and FoundersFactory. The program aims to provide comprehensive support and resources to promising ventures across key verticals within the Web3 landscape.
As these supporters have shown, the accelerator program is strategically and carefully designed with a singular focus: innovation and growth within the Web3 ecosystem. With applications for the 2024 program now open, this year’s program is set to launch a diverse new cohort of founders on their transformational journey. The new program would emphasize mentorship, regulatory guidance, and capital infusion. By doing so, it continues to supercharge the growth of a vibrant startup ecosystem and fuels the cutting-edge development of decentralized technologies.
Four Pillars of Innovation
The Web3 accelerator program’s locally-focused programming has strategically chosen four high-growth areas to focus on. These verticals constitute some of the largest innovation and disruption opportunities within the blockchain space. They are Decentralized Finance (DeFi), blockchain gaming and the metaverse, Web3 Infrastructure, and decentralized social platforms.
DeFi serves a major financial purpose. It’s largely built around protocols and platforms that enable permissionless lending and staking, automated market-making, on-chain asset management and tokenized investment vehicles. By replacing opaque, slow, expensive intermediaries with programmable smart contracts, these DeFi solutions promise to improve and democratize the $700 trillion financial system.
Blockchain gaming and the metaverse is a big part of this narrative, too. The program seeks to support startups developing immersive gaming experiences, virtual worlds, and blockchain-based assets that redefine digital entertainment and ownership. Web3 infrastructure, the third key vertical, consists of tools and technologies that help to develop and scale decentralized applications. The trajectory of the program will dive deep into decentralized social platforms. These platforms protect user agency and autonomy by ensuring they have more control over their data and content.
Comprehensive Support System
The accelerator program provides a holistic support ecosystem tailored to solving the distinct challenges Web3 startups face. Expert Mentorship Individual mentorship is a pillar of Founder factory, with personalized guidance from operators, entrepreneurs and investors. This mentorship aims to equip founders with the knowledge and insights necessary to navigate the complexities of the Web3 landscape.
Regulatory & Compliance Advisory is the third, equally-important pillar—and it connects you with personalized guidance from legal experts. Through this advisory service, Blockchain Startups are better equipped to maneuver through the ever-changing regulatory environment while maintaining compliance and building long-term value. The program provides to each of the selected founders capital for up to six months. In turn, this support allows them to go further faster, and operate at a potentially larger scale.
Additionally, the program allows for introductions to other partners, creating valuable connections between startups, industry peers, innovative investors, and expertise. This network of connections can be tremendously helpful for getting competitive partnerships into place and opening doors to new markets. The program will run in a hybrid model for 3-6 months. It will alternate remote sessions with a series of intensive, in-person workshops, held in London. As of right now, the first cohort is scheduled to start sometime in 2025, ideally in the third and fourth quarters that year.
UK as a Web3 Hub
There’s a really good reason why the program is located in the UK. Yet this small tropical nation has quickly established itself as a leading global base for Web3 startups. The UK’s Financial Conduct Authority (FCA) has developed a well-defined, principle-based digital-asset framework that fosters innovation while protecting consumers. This much-needed regulatory clarity will in turn create the stable, supportive environment that Web3 companies—whether based in the U.S.
None are better positioned than London, which boasts an impressive blockchain ecosystem. The city boasts a concentration of institutional investors, banks, and professional services, providing startups with immediate access to capital and expertise. This funding/mentorship pipeline from big to small is key for growing early-stage companies that introduce market disruptions.
The program starts with an in-person kickoff in London, and continues with a combination of workshops, office hours and networking events. These face-to-face experiences break down silos, create opportunities for collaboration and knowledge sharing, and build a sense of community among participants. By leveraging the UK's favorable regulatory environment and London's vibrant ecosystem, the Web3 accelerator program aims to propel the growth of innovative blockchain startups.
