What exactly is a blockchain accelerator? In the world of startups, accelerators and incubators are the programs that are dedicated to sponsoring and mentoring exceptional teams and projects. From educating to networking, an accelerator program usually ends with a demo day, similar to the final exam, where the team pitches their project in front of investors.
And just like with any other investment program, the chances of securing yourself a place in the program are very slim, unless your project is awesome.
Ever since the cryptocurrency industry gained its momentum and blockchain savvy techies suddenly became highly employable specialists, more and more private funds have started launching blockchain accelerators all around the world.
If you’re running a startup, you’re well aware that funding is the cornerstone of every endeavor. Blockchain accelerators can provide you with both funding as well as a more structured development path. And it wouldn’t hurt to join the competition.
How do Blockchain Accelerators work?
Although any blockchain-oriented startup can apply, the selection process is extremely competitive with only 1% of applicants being approved. However, your fortunes will possibly look up if you go with a less trendy program and try your fate outside of Silicone Valley.
- First, you need to choose a suitable accelerator and submit your application. Normally, you will be asked to answer a number of questions that focus on your goals and priorities. Prepare to explain why your project deserves this investment opportunity and how you envision the future success.
- Once chosen, you will be offered seed funding (typically, from $10,000 to $400,000) in exchange for equity. The size of the equity obviously varies, but don’t be overwhelmed. And think long-term! As small as it may seem at the startup stage, it might turn out to be a huge deal-breaker once your business expands.
- Get ready for at least 3 months of intense work. You will be required to perform at your best, learn and advance daily and also make time for networking. There is no better environment for making useful connections than being surrounded by driven and enthusiastic individuals and experienced mentors, entrepreneurs, and investors.
- Your blockchain accelerator journey will end with a pitch for investors, so make sure to do your research on how to make it captivating. Think of this as a unique opportunity to showcase yourself in front of a group of influential people that could possibly turn your life around.
However, not all the blockchain accelerators follow a common practice – some programs may offer online solutions while others provide you with thriving co-working space, courses, workshops, and opportunities to meet fellow creative thinkers.
We’ve found a few interesting accelerator programs so you can choose the one that matches your abilities and ambitions.
- Based in the Telangana blockchain district
- Is hunting for projects with a strong blockchain use case
- 4 months
By launching the T-block accelerator program, the Telangana government and Tech Mahindra in collaboration with IBC Media hope to create the Indian Tech startup ecosystem. And unless you have a solid blockchain use case, don’t even bother applying for the T-Block Accelerator program.
The newly launched accelerator is looking for seed and validation stage startups that have a clear business goal and ready-to-implement blockchain solution. Successful applicants will get a chance to pitch their ideas and receive mentorship from the government of Telangana, Tech Mahindra, C-DAC, and IIIT Hyderabad.
- The largest African blockchain community
- Blockchain solutions for financial and energy access
- 2000 engineers
BitHub.Africa is an Africa-based blockchain accelerator dedicated to driving financial and energy access across the continent with the help of blockchain tech. The program explores solutions in the areas of financial services, identity management, IoT, agribusiness, and sustainable energy, which have a positive impact on Africa’s economic and social development.
The accelerator offers training and advisory services to like-minded companies in Africa and the Middle East as well as trains and hosts blockchain developers at the hub in Nairobi.
- France, Paris
- Community offer – 500 euro for a desk at Chain Accelerator
- Clients: Tezos, Cosmos, Chainlink, Wanchain
Chain Accelerator, the biggest blockchain accelerator in Europe, is located in Paris in a one of a kind campus created for facilitating startups. The accelerator works on creating an entire ecosystem that involves various blockchains, educational and other institutions, as well as major enterprises and investors who get together to build blockchain solutions.
Chain Accelerator is a certified training facility for Tezos and has already coached over 40 developers on Tezos. Apart from Tezos, Chain Accelerator created ChainAccAdemy, uniting schools, teachers, and researchers to educate and work in line with partner protocols.
From hackathons to workshops, Chain Accelerator is taking care of those professionals who want to grow and progress.
- Partnered with BMW, ConsenSys, Intel, Nielsen, R3 and more
- Global Demo Tour across major cities
Tribe Accelerator is approved and supported directly by Singapore’s government and works closely with it. The accelerator is focused on product development and offers exclusive networking opportunities for outstanding blockchain startups.
By connecting government institutions, blockchain companies, and talented engineers, Tribe handles both the technical and social sides of the business development process.
- 16 weeks
- 5 applicants
- $2,500,000 per year
MouseBelt is a classic, full-service blockchain accelerator and a unique startup studio that is not solely interested in cash investments. The accelerator provides a few lucky projects with all the tools they need to meet their goals.
Started with classOne, MouseBelt is currently open for applications for its second cohort classTwo, an intensive 16-week program for massive business growth.
The program will take you through all the important stages of business development, from gathering information and design to building valuable connections and token launch.