ConsenSys Ventures has opened applications for its new accelerator, Tachyon.
The accelerator is intended to take blockchain-based projects from early stage to viable minimum viable product (MVP) in an eight week program.
The company, which is the entrepreneurship arm of Dubai's blockchain city advisor ConsenSys, aims to accelerate new technologies across the blockchain industry through the program, which is named after tachyon particles that travel faster than light. ConsenSys Ventures will select eight to fifteen projects and provide a range of $75,000 to $100,000 in pre-seed funding.
Applications are open until July 31st, 2018. The program will run for eight weeks, September 15th to November 15th, and will feature a week-long technical Ethereum education, a weekly lecture series, dedicated mentors, and the ability to pitch at two demo days in San Francisco and Europe, with other locations to be announced.
As a part of the Tachyon cohort, entrepreneurs will be mentored by leaders from global technology companies as well as a variety of projects from within the ConsenSys ‘mesh'-the collective term for all ConsenSys members - bringing together Ethereum core developers and web 2.0 technologists. Founders will have the chance to work and be mentored by various members from ConsenSys projects like MetaMask, Truffle, Infura, Ujo, Civil, Trustology, Token Foundry, ConsenSys Labs, Adhara, and others, as well as leaders from more traditional Silicon Valley ‘unicorn' companies.
ConsenSys Ventures created the Tachyon accelerator to provide early guidance to innovative projects building on the Ethereum network. Successful applications will include for-profit ideas, not-for-profit projects leveraging Ethereum for social impact, and projects focusing on building open source protocols and platforms.
"We are combining the wisdom of Web 2.0 with the new capabilities of decentralized Web 3.0 technology and getting those entrepreneurs together to find the next brilliant solution," stated Kavita Gupta of ConsenSys Ventures. "We are seeking to support brilliant founders with impressive track records and ideas for Ethereum based decentralized applications or infrastructure.
"We created the Tachyon Accelerator to provide guidance, value, and resources to promising founders entering the blockchain ecosystem. We're so excited to nurture the next wave of decentralized technology and elevate projects that will be crucial to growing the Ethereum ecosystem. Tachyon's goal is to guide these early stage ideas and help bring about successful execution by pairing founders with an all-star team of advisors," Gupta added.
According to Ethereum co-founder and ConsenSys founder, Joseph Lubin, "The Tachyon accelerator, an extension of ConsenSys Ventures, will give entrepreneurs a unique faster-than-light jump start with the unprecedented opportunity to access the deep network of ConsenSys founders and technologists who have years of expertise building on the Ethereum platform. We look forward to partnering with budding entrepreneurs and supporting external projects that aim to grow the decentralized web, Web 3.0."
As blockchain city adviser to Dubai, ConsenSys has consistently emphasized its commitment to finding and honing tech talent and innovation in the Middle East.
"From hosting the first graduation ceremony of ConsenSys Academy in October 2017 to winning first place at the ‘Code4Chainge' hackathon at the inaugural Africa Blockchain Summit, opening an office in Dubai and building its smart cities footprint with expansion into Saudi Arabia, ConsenSys is establishing strong roots in the Middle East," said Lina Hediah, Executive Director at ConsenSys.
"This is a golden opportunity for technology entrepreneurs in the region to pitch to the best in class. The mentoring, guidance and access to technical expertise in a dynamic and collaborative community working space with cutting-edge resources is truly unparalleled," she added.