Polygon Co-Founder Introduces Beacon, A Web3 Startup Accelerator
Sandeep Nailwal, co-founder of Polygon, has launched a new Web3 accelerator in New York City called Beacon, as reported this morning by The Block.
Beacon describes itself as "an accelerator built by Web3 founders for Web3 founders," and its mission is to create the next 100 Web3 unicorns. To do so, it focuses on supporting early-stage web3 projects through mentorship and financing, and it offers a 12-week program to mentor and finance startup founders. According to Nailwal, Beacon has already funded 15 startups, though the names of these startups will not be disclosed until January.
The program's first cohort, "Cohort 0," began in October and included over 30 founders from 15 startups in various sectors, including DeFi, infrastructure, and gaming. The next cohort is currently accepting applications until the end of January.
From Beacon's website, their primary offerings to interested applicants include hands-on mentoring, access to a founders network, weekly office hours allowing companies facing similar challenges to connect, holistic Web3 resources such as legal counsel, and weekly founder talks.
Beacon Leadership and Social Network
The accelerator is run by Nailwal and others including Kenzi Wang, Prateek Sharma, and Uri Stav. In addition to the core team, Beacon also has a number of mentors from the tech and crypto industries, including Neil Cunha-Gomes from SoftBank, Dan Kim from Coinbase, Maria Shen from Electric Capital, and Paul Veradittakit from Pantera Capital. These mentors will work with the startups in the program to provide guidance and support as they develop their projects.
"Our ultimate goal is to build the greatest network of web3 founders in the world," Nailwal said. "We think that as our alumni network grows, the overall quality of projects being built in web3 will increase as founders help each other find success."
To support that alumni network, Beacon is also building a social network for founders and alumni to connect before and after their programs. A platform already exists for investors to review projects and pitches, along with founder backgrounds.