Open Web Collective Accelerator introduces $650,000 investment deal to support Web3 startups
Web3 startups to benefit from funding and support to help scale more blockchain-powered technologies
San Francisco, CA - March, 30th, 2022: Open Web Collective (OWC), a leading Web3 accelerator connecting pre-seed and seed-stage startups with leading investors, mentors, and corporations helping to define the next iteration of the internet, today is unveiling its standard investment deal.
In the standard deal, startups in the accelerator program will receive an initial $150,000 investment, in exchange for a 7% equity or token stake in the company, with the opportunity to receive an additional $500,000 coming out of Demo Day. The accelerator will fund startups who are on a mission to develop decentralized applications (dApps) that deliver novel strategies and revenue streams in the Web3 industry.
OWC is also announcing it will now be accepting applications from founders for its 4th batch of startups. The early-stage blockchain venture fund and accelerator has already supported 28 startups that cumulatively have raised over $300M USD in venture funding to date.
“The Open Web Collective team’s aim is to partner with innovative startups and investors, support the Web3 sector, and help to uncover the next unicorns. 2022 will be filled with launches, fresh batches, and new projects. This quarter is just a sneak peak of what’s to come this year, and we are excited to give our community a front row seat,” said Mildred “Mimi” Idada, Founder and Partner of OWC.
OWC provides founders with the connections, capital, and insight needed to scale, so that startups can focus on developing, launching, growing their blockchain-enabled products and communities, and evolve the internet into its next iteration.
Currently, the accelerator is looking for 15 pre-seed and seed-stage Web3 companies looking to develop their product and grow their team, build awareness and expand their communities, and scale their company to reach the next level. Applications for Batch 4 will be accepted on a rolling basis until midnight, June 30, 2022 with the program set to kick off on July 11, 2022. For this series of startup funding, OWC expects to fill more than half of the available seats on offer by May 20, 2022.
Said OWC Partner Mildred Idada, “I believe Open Web Collective has the potential to impact Web3 as much as we saw organizations like Y Combinator help Web 2.0.”
The program culminates in a Demo Day on September 28, 2022, in which batch founders will present to a curated audience of industry leaders, ecosystem players, and network partners. Applicants who are interested in growing their novel blockchain idea to build the future of the internet are encouraged to apply here.
About Open Web Collective
Open Web Collective is an investor, accelerator program, and supporting community for blockchain and Web 3 startups. OWC helps founders validate, build, and de-risk companies by defining and growing key performance indicators (KPIs), developing product-market fit, and fundraising. During the three-month long accelerator program, our promising pre-seed and seed stage startups work with leading investors, mentors, and corporate partners. Additional details can be found here.
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