Recently, a new project from Polygon’s CEO Sandeep Nailwal entered its demo phase.
The project in case, “Beacon”, is an accelerator built with the purpose of assisting Web 3 developers and startups. The new endeavor aims to aid businesses to develop a network, advertise themselves, and launch their product through weekly workshops and coaching.
So far, 13 companies classified to the demo phase of the project. Among these companies are Arcana, Blinkmoon, Colexion, ChapterX, Cubist, FastLane, Meta Apes, Community Gaming, Mystic Moose, Nillion, Davos Protocol, Timeswap, and Yilde.
This group, designated as Cohort 0, has been deemed “the MVP of Beacon” by the program’s primary contributor and Polygon blockchain co-founder Sandeep Nailwal. In the future, Nailwal intends to extend the program by hosting two Cohorts of 20-25 firms twice a year.
The three-month accelerator program is held twice a year, in the spring and fall. Nailwal anticipates that Cohort 1 will have a 1% admission rate, similar to its predecessor.
Each startup will have a dedicated core team member who will be responsible for weekly check-ins with the founders. Mentors will collaborate with their teams to establish appropriate KPIs and track their success over the course of the three-month program.
This exciting new project will look to become the “go-to” company where startups can significantly scale their businesses.
Investments
On top of facilitating the development of new projects, Beacon will also invest in the startups chosen fo be a part of the cohort.
For all firms approved into Beacon, Beacon offers normal investment conditions. Every project will receive a $250k investment at an $8 million post-money valuation under the new concept.
Demo Day
The three-month program concludes with a live-streamed Demo Day. Founders pitch their ideas to prominent web3 investors and members of the press during our Demo Day.
Intros and fundraising are handled using specialized software that is only available to Beacon founders and investors.
