Polygon Founder-Led Web3 Accelerator Beacon Hosts Inaugural Demo Day
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New York City, New York, 12th January, 2023, Chainwire
Early-stage web3 accelerator Beacon held its first Demo Day of the year with 13 projects pitching live to over 300 top venture capitalists.
Beacon, positioning itself as the most founder-friendly accelerator started by Sandeep Nailwal (an accomplished web3 builder in his own right), hosted its inaugural Demo Day today. Graduates of Beacon’s first cohort presented their ideas on various sub-sectors of the crypto-economy, such as gaming, infrastructure, decentralized lending, and developer tooling. This group, known as Cohort 0, was described as “the MVP of Beacon” by the program’s core contributor Sandeep Nailwal, co-founder of the Polygon blockchain. Looking ahead, Nailwal plans to expand the program by running two Cohorts of 20-25 companies twice per year.
The three-month accelerator program is run biannually, in spring and fall, and Nailwal believes Cohort 1 will have a similar 1% acceptance rate to its predecessor. The program lasts twelve weeks, with founders selected into the exclusive program attending weekly talks from top builders in web3 and receiving consistent individual coaching from Beacon’s core contributors. The application deadline for Cohort 1 is January 31, with the next program getting underway in April. For each startup in the upcoming program, Beacon will make a standard $250,000 investment, with an $8m post-money valuation for each company in the program.
In addition to investors from Sequoia, Lightspeed, Electric and Accel, mentors in the Beacon program include Magic Eden CEO Jack Lu, Anagram Co-Founder
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