Leading crypto and Web3 companies, including Coinbase, Fabric Ventures, Animoca Brands, and Founders Factory, have launched a Web3 accelerator program to enhance blockchain and AI innovation in the U.K. Selected founders of Web3 start-ups can receive up to £250,000 in funding and 16 weeks of operational support. The program is open to businesses from all sectors that are involved in the decentralized economy and utilize tokenized business models.
Founders Factory, a leading global accelerator, will directly support founders joining the program, providing training in key areas like business strategy, product development, go-to-market planning, and fundraising. Meanwhile, Fabric Ventures, Animoca Brands, and Coinbase will assist start-ups with tokenomics development, market making, exchange listings, community-building strategies, and scaling best practices in the blockchain and AI sectors.
This initiative aims to provide funding and technical support to help these start-ups grow, attract investment, and strengthen the U.K. economy. Business and Trade Secretary Jonathan Reynolds views the program as a significant boost for the U.K.’s tech sector and its role in fostering innovation in the web3 space.
“Not only will it ensure that the U.K. remains a key leader in blockchain technology but will also unlock growth as we deliver on the Plan for Change. Our modern industrial strategy has highlighted financial and professional services as key growth sectors for the U.K. to thrive in,”
said Reynolds in his statement.
Keith Grose, CEO of Coinbase U.K., stated that the country already possesses the talent, capital, and regulatory backing to take advantage of the opportunities in the web3 space. However, he noted that certain challenges still hinder innovation.
Meanwhile, Coinbase analysts have adopted a cautious stance on the short-term crypto market, indicating that a bottom may not be reached until late in the second quarter. Despite this, the launch of the accelerator program represents a positive step forward, providing much-needed momentum for Web3 start-ups to grow and thrive in the evolving digital economy.
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