Collaborative Venture: Founders Factory, Coinbase, and Other Parties Establish U.K.'s Web3 Accelerator Program
Revamped Take:
Embracing the digital frontier, major crypto and web3 powerhouses like Coinbase, Fabric Ventures, Animoca Brands, and Founders Factory have teamed up to ignite a blazing wave of innovation in the U.K.'s blockchain and AI landscape through their sensational web3 accelerator program.
According to the exciting press release, the lucky founders of selected web3 startups will pocket up to £250,000 ($333,470) in cash, and enjoy a whopping 16 weeks of operational support. This golden opportunity is open to all businesses dabbling in the decentralized economy and tokenized business models across various sectors.
Founders Factory, a global leader in accelerators, will offer hands-on aid for entrepreneurs eager to partake in the program. The packaged deal includes training on pivotal aspects such as business strategy, product development, market strategies, and fundraising—all essential ingredients for launching a successful web3 venture.
Meanwhile, Fabric Ventures, Animoca Brands, and Coinbase step up to provide assistance on expanding tokenomics, market making, listing at crypto exchanges, market strategies for building vibrant communities, and scaling up businesses within the blockchain and AI universe.
The collaborative program is designed to arm web3 startups with the necessary funding and technical support needed to propel their businesses forward, ultimately funneling more investments into the web3 ecosystem and boosting the U.K.'s economy.
UK Government on the Crypto Front
While countries like the U.S. and Hong Kong sprint ahead with regulations and government-backed programs championing blockchain and AI technology, the U.K. has been a bit more cautious, moving at a slower pace in the crypto game.
Business and Trade Secretary, Jonathan Reynolds, sees the web3 accelerator program as a "confidence-boosting" move for the U.K.'s tech sector. Reynolds believes it fortifies the U.K.'s position in driving innovation within the web3 space.
"This action solidifies the U.K.'s position as a key player in blockchain technology and will stimulate growth as we carry out our Plan for Change. Our modern industrial strategy has emphasized financial and professional services as prime growth sectors for the U.K. to thrive in," declared Reynolds in his statement.
UK CEO of Coinbase, Keith Grose, echoes a similar sentiment, asserting that the U.K. already possesses the talent, capital, and regulatory support required to make efficient use of the opportunities present in the web3 ecosystem. However, he emphasizes that some barriers persist, stunting innovation.
Earlier this month, a coalition of six significant U.K. trade bodies implored the U.K. government to prioritize blockchain and digital assets by proposing an action plan. This call to action aims to prevent the U.K. from slipping behind competitors in the global race.
To remain competitive, the group urged the government to appoint a blockchain-specific special envoy, much like the U.S.'s AI and crypto czar, David Sacks. This envoy would oversee policies, foster innovation, and champion the U.K. on the global stage as a beacon of all things AI and crypto.
- The web3 accelerator program, co-created by Coinbase, Fabric Ventures, Animoca Brands, and Founders Factory, offers a fantastic opportunity for web3 startups, providing up to £250,000 in cash and 16 weeks of operational support.
- Founders Factory, a global leader in accelerators, will offer hands-on training in business strategy, product development, market strategies, and fundraising, essential for launching a successful web3 venture.
- Fabric Ventures, Animoca Brands, and Coinbase will offer guidance on expanding tokenomics, market making, listing at crypto exchanges, and scaling up businesses within the blockchain and AI universe.
- The program aims to arm web3 startups with the necessary funding and technical support needed to propel their businesses forward, ultimately directing investments into the web3 ecosystem and boosting the U.K.'s economy.
- Keith Grose, UK CEO of Coinbase, believes the U.K. already has the talent, capital, and regulatory support to excel in the web3 ecosystem, but emphasizes that some barriers persist, restricting innovation.
- A coalition of six significant U.K. trade bodies recently urged the government to prioritize blockchain and digital assets by proposing an action plan, fearing that the U.K. might fall behind competitors in the global race.
- The group recommended appointing a blockchain-specific special envoy, similar to the U.S.'s AI and crypto czar, David Sacks, to oversee policies, foster innovation, and promote the U.K. as a leading force in AI and crypto on the global stage.
- Business and Trade Secretary, Jonathan Reynolds, views the web3 accelerator program as a "confidence-boosting" move for the U.K.'s tech sector, reinforcing the U.K.'s position in driving innovation within the web3 space.
