Web3 startups often face challenges unique to the nascent ecosystem — complex regulatory landscapes and scaling with decentralization are just two of many. Venture capital flowing into Web3 startups experienced a big drop over the last year, and new projects need more help than ever to carry their work throughout the early phases.
This is where Web3-focused accelerators can step in. Programs designed by industry leaders act as pathfinders to guide promising projects and startups through the uncharted horizons of Web3. Tailored to the specific needs of Web3 ventures, accelerator programs offer a range of resources, including mentorship from industry experts, access to a well-established network and programs designed to address the unique challenges faced by newly emerging startups.
Web3 startup funding took a hit during the crypto winter of 2022, and has not recovered so far. Source: Cryptox Research
Web3-friendly accelerators join forces
When the market conditions become unpredictable, it’s crucial for the industry to collaborate and find ways beyond VC money to endure the economic downturns. Headquartered in Hong Kong, Brinc is a venture accelerator that empowers game changers to help solve some of the world’s biggest challenges and actively supports entrepreneurs from around the globe on their path to innovation. Offering accelerator programs to companies in a variety of sectors, ranging from climate and food technologies to hardware, Internet of Things (IoT) and Web3, the company has invested in 239 companies originating from more than 36 countries.
Brinc’s Web3 program is delivered in partnership with Animoca Brands and is set to host its fourth cohort in Q1, 2024. Through the program, Brinc has accelerated more than 60 Web3 companies, covering technology and infrastructure, DeFi, gaming, metaverse, entertainment, healthcare, arts and culture.
The new partnership between Brinc and Cryptox seeks to create a two-way bridge between the former’s Web3-focused accelerators and the Cryptox Accelerator program. The aim is to utilize the complementary nature of the two accelerators by combining Cryptox’s global audience and marketing experience with Brinc’s expertise in product development, token design, scaling strategy and network introductions.
Brinc accelerator programs provide mentorship, funding and access for startups. Source: Brinc
Together with Cryptox Accelerator, Brinc aims to hold joint demo days for up-and-coming Web3 startups so they can showcase their projects to a broader audience. As part of the collaboration, Cryptox and Brinc will open up their respective networks of projects, mentors and investors to the participants of their accelerators.
Brinc’s network of prominent Web3 names, which consists of Animoca Brands, Consensys, AWS, Filecoin and more, will provide mentorship for Cryptox Accelerator participants. Likewise, Brinc’s accelerator program and potential portfolio companies will receive Web3 Marketing and other workshops conducted by Cryptox Accelerator on top of special discounts for Cryptox’s media products.
This clarifies the roadmap for any startups joining the programs: Participants can build their minimum viable product, strategize to scale and connect with best-fit partners under Brinc’s guidance, and then launch it to the global audience via Cryptox Accelerator.
Cryptox Accelerator ignites the growth of promising Web3 projects by developing marketing strategies, providing advertorial media coverage, organizing workshops with specialists, and arranging participation in crypto events and introductions to Cryptox’s network of partners, consisting of institutional investors, exchanges and advisers.
