Launched late last year by Polygon and Lumos Labs, the PolygonLEAP 2021 Accelerator announced today its first cohort of 31 startups. Aimed at driving innovation and supporting Indian startups in their Web3 journey, this accelerator will now move to support 31 selected solutions from over 270 applicants globally, who will receive expert advice, ecosystem support and support as they build their innovative decentralized ideas. Marketing support in Bootcamp level.
In the year Launched on December 8, 2021, the accelerator is organized by Lumos Labs, a technology innovation management firm, in partnership with Polygon. It is also supported by incubation partner Buidlers Tribe and investment partners from leading Web3 venture capital firms including CoinDCX, Digital Finance Group, Elevation Capital, Hashed, Jsquare, Jump Capital, Lightspeed, Picus Capital, Sino Global Capital and Woodstock Fund. The winning startups have a chance to win a $250,000 prize pooled by Polygon.
The accelerator has seen more than 270 applications, of which 160 are from Web3 startups from around the world. The Bootcamp phase includes selected startups building visionary solutions on multiple tracks, the entertainment sector leads the competition in sectors such as gaming, payments, metaverse, NFTs, etc. Also, renowned industry experts equip them with the right guidance. Mentoring sessions along with many meetings and workshops are organized to help scale these solutions.
“At Polygon, we envision an open and borderless world and strive to inspire young developers to build new worlds. We look forward to working with the selected startups and continuing the journey of building a bright future for Web 3. – Sandeep Nelwal, Co-Founder, Polygon.
“We are excited to work with Polygon on this accelerator program as it strengthens startups in many ways. India is third in the list of countries with the largest startup ecosystem after the US and the UK, and there seems to be no stopping this growth. Along with this, for the new startups to survive It will be necessary for all the prerequisites to enter the ecosystem. This initiative is focused on solving this hurdle and we are very happy to be a part of it.” – Kavya Prasad, Co-Founder, Lumos Labs
The blockchain industry is expected to surpass $40 billion in the NFT market by 2021, a market that could reach $8 trillion, and blockchain adoption in capital markets is expected to reach $27 trillion by 2027. The Asian region is consistently at the forefront of this new technology. The industry is a hub of accelerated innovation and has greatly boosted the startup sector by introducing new ideas, visions and solutions, creating huge demand across a wide range of industries in India. As the field of blockchain applications continues to grow, startups like this one are continuously contributing by adapting and customizing the technology to suit a wide range of use cases.