Established Web3 company Lisk recently announced the launch of its new accelerator. Startups with plans to build blockchain applications and drive Web3 adoption can receive up to CHF250,000 (approximately $270,000) in funding. The company does not claim any stake in the projects it chooses to support.
The mission: to advance the accessibility of the Web3
For Max Kordek, co-founder of Lisk, accessibility means “easy to access” and also “easy to use”. "But crypto and Web3 aren't easy," says the visionary who created his first app at age 14, "so what we do in my business is break down the complexity and make it easier to use". Its vision is to create a sort of application store for Web3. Kordek wants to enable developers and users to transition from Web2 technologies to Web3 technologies seamlessly.
To get to this point, building blockchain apps should be as easy and effortless as building regular apps. Currently, software developers cannot use their existing skills but must learn blockchain-specific programming languages and skills. Additionally, Web3 applications are often cumbersome to use. For mass adoption to occur, they must provide the same level of user experience as any mainstream application.
What makes the accelerator appealing?
These five features set Lisk Accelerator apart from most average Web3 accelerators that offer only part of the benefits:
- Few other Web3 accelerators offer such high funding. Many Web3 companies that provide similar technical support operate only as incubators with no funding.
- Lisk asks for no equity in return. The start-up remains the sole owner of the application developed with the financial and technical support of Lisk.
- An experienced team of blockchain professionals guide participants in developing their applications on the Lisk blockchain. The dedicated support team is available via live chat at all times. Additionally, participants are part of the Lisk community and have full access to the training network.
- Lisk partners with other Web3 companies, such as CV Labs and Accubits. Accelerator participants have the opportunity to benefit from the partnerships and obtain additional training, mentorship and expert advice.
- Lisk Accelerator applicants receive a response within two weeks of their initial application. Each application goes through a meticulous but fast-paced review process.
From bootstrap to breakthrough
The Lisk Accelerator program is being implemented in stages of four grants to provide start-ups with additional incentive. The structure also allows the Lisk team to focus their support on what is needed at each phase of development. Each Accelerator grant comes with the technical and business support required at that particular stage of building and scaling a Web3 application. Each time a stage is completed, the start-up team can apply for the next grant.
- Bootstrap Grant - this grant provides developers who do not have a PoC (Proof of Concept) built with Lisk with the seed funding to do so.
- Builder Grant - this grant provides the funding and support needed to build a working Web3 application and connect it to Lisk's mainnet.
- Booster Grant - this grant supports the testing and optimization phase and helps create the product's go-to-market initiatives.
- Breakout Grant - The Breakout Grant helps start-ups scale their app and build a successful business around it.
Large-scale support for ambitious teams
The Lisk Accelerator program targets enthusiastic builders and entrepreneurs with a genuine ambition to push toward a Web3 future. The company is looking for dedicated start-up teams interested in developing and scaling long-term projects. Ideal candidates are entrepreneurs who will shape the impact of the Internet on business, industry, science, culture and daily life. The idea is to make the Web more advantageous both for the large public of users and for the providers of services and products.
Lisk already backs several start-ups that are building promising apps, and the ecosystem continues to grow. Some notable apps are NFT Enevti social media platform and NFT Colecti marketplace. In the music industry, where Web3 is gaining ground, Lisk is involved in the development of the Muzikie streaming platform. Another area of particular focus for the company is DeSci, short for decentralized science. DeSci aims to eliminate the drivers of financial or political interests from scientific research and work. Jellyspace is one such project participating in the Lisk program.
The application is open for a limited time
These apps are part of the initial Lisk grant program. Based on the experience gained from this program and feedback from participants, the Lisk team has developed the new and improved Lisk Accelerator.
The accelerator is open for applications from March 20 to June 30, 2023. A second batch of applications will be accepted from September 1 to November 30, 2023. Applications can be placed through the Lisk Accelerator website.
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