Polygon co-founder launches Beacon accelerator to support Web3 startups

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Polygon and Symbolic Capital co-founder Sandeep Nailwal announced the launch of a training program as part of the Beacon accelerator to support startups in the Web3 sector.

As reported by Sandeep Nailwal,The accelerator was created jointly with Symbolic Capital co-founder Kenzi Wang, former Sequoia Capital vice president Prateek Sharma and former head of security at Digital Currency Group Uri Stav. 

The accelerator aims to financecryptocurrency projects at an early stage of development. Fifteen startups have already received financial assistance from Beacon, but Nailwal said their names will be announced in January.

For startup founders it is provided12 week mentoring program. The first program launched in October, with more than 30 founders of 15 startups from various fields, including those working in the gaming and DeFi sectors, taking part. Applications for the next cohort of startups are open until January 31st.

Beacon mentors will includetop managers Neil Cunha-Gomes of SoftBank, Dan Kim of Coinbase, Maria Shen of Electric Capital and Paul Veradittakit of Pantera Capital. Nailwal added that a special platform has already been created for Beacon, on which accelerator participants will be able to view projects and video presentations.

“Our goal is to create a large-scaleWeb3 ecosystem. The most valuable resource in any accelerator is the other founders going through the training program along with the students. Accelerator participants will help each other achieve success and improve the quality of their projects,” Nailwal said.

Previously, the founder of Polygon said that thanks to new developments, the Web3 sector continues to develop, despite inflation and the bearish trend in the cryptocurrency market.