Accelerator Open Web Collective is announcing today a combined $650,000 USD funding offer for web3 startups.
The organization facilitates connections between founders, investors, and industry experts to help web3 and blockchain startups develop and grow. Its goal is to change the way the online world is monetized with each funding cohort they launch into the tech stratosphere, which is done by 15 companies at a time through its accelerator program.
Thus far the organization has helped 28 startups raise over $300M USD in cumulative funding.
In a company statement the accelerator’s founder Mildred Idada said, “The Open Web Collective team’s aim is to partner with innovative startups and investors, support the Web3 sector, and help to uncover the next unicorns. 2022 will be filled with launches, fresh batches, and new projects. This quarter is just a sneak peak of what’s to come this year, and we are excited to give our community a front row seat.”
Blockchain entrepreneurs backed by Open Web Collective are building a range of solutions from financial products with digital assets structured for traditional investors, user-friendly crypto options, insurance coverage for DeFi users, NFTs with built-in social impact, read-to-earn applications, cross-chain privacy to applications facilitating the borrowing and lending of NFTs.
Startups looking to develop their product and grow their team are encouraged to apply for the Open Web Collective accelerator on their website before June 30.
Entrepreneurs accepted for the next round of funding are handed $150,000 in funding exchange for a 7% equity or token stake in the company, however this amount can increase an additional half-million dollars following a Demo Day presentation founders get to take part in at the end of the three-month-long program.