The founder of Polygon – Sandeep Nailwal – has assembled a team of founders gathered from the entire Web3 ecosystem – and has launched a startup accelerator to power the future growth of the nascent industry.
Beacon is a Web3 accelerator built by Web3 founders, including Nailwal and other well-known names in the field, such as:
- Uri Stav, former CSO at DCG
- Prateek Sharma, former VP at Sequoia Capital
- Kenzi Wang, co-founder at Symbolic Capital
- Jack Lu, Co-Founder and CEO at Magic Eden, and so forth.
The full list of the individuals who are involved in the project can be found here. The main purpose of the accelerator would be to help Web3 founders with the challenges of the industry. Speaking on the matter, Nailwal said:
“You often hear that building a web2 startup is like ‘running a marathon’ and that web3 founders need to be sprinters. That’s the wrong way to think about it. Web3 founding is an altogether different sport. It’s not running, it’s like skiing. At Beacon, we know you can’t follow the same web2 playbook to be successful in web3. Through weekly sessions and hands-on mentoring, we’re teaching our founders how to ski – marketing is different, community building is different, launching a project is different. Founding in web3 is a different animal and we’re helping our founders navigate this new landscape.”
Attempting Something Different
According to the press release shared with CryptoPotato, Polygon’s founder is attempting to differentiate Beacon from other accelerators by focusing on the creation of in-house software that would handle the operations of the program.
The release reveals that Beacon already has a custom-built platform for investors to review different projects, watch video pitches, read up on the background of founders, and so forth. Ultimately, Beacon’s goal is to become a full-service platform that’s aimed at facilitating interactions between investors and founders.
“Our ultimate goal is to build the greatest network of web3 founders in the world,” says Nailwal. “Having gone through an accelerator before (Binance Labs), I found that the greatest resource in any accelerator is the other founders going through the program alongside you. We think that as our alumni network grows, the overall qulity of projects being built in web3 will increase as founders help each other find success.”