As the first in what will be an ongoing series in 2024, this accelerator program is focused on startup innovations seeking to unlock the $2.2 trillion DePIN, AI, and real-world value in Web3.
FutureMoney Group, a Web3 investment firm, launches a $5M Decentralized Physical Infrastructure Network (DePIN) accelerator program in partnership with IoTeX Foundation, the organization behind IoTeX, the leading modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains. As the first in what will be an ongoing series in 2024, this accelerator program is focused on startup innovations seeking to unlock the $2.2 trillion potential in DePIN, AI, and real-world value in Web3.
FutureMoney Group is particularly interested in the disruptive potential of DePIN given the ubiquity of data across devices that are ripe for verification via blockchain to create new funnels of value for data suppliers.
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EO Hao, Founding Partner of FutureMoney Group, shared, “We’re very excited to be launching a DePIN-focused accelerator to support some of the most innovative entrepreneurs with the leading DePIN infrastructure provider IoTeX. We are especially interested in DePIN projects that accelerate geographic diversity, environmental responsiveness, and democratizing access to scarce data resources.”
Jing Sun, Co-Founder and Head of Investment of IoTeX, said “There is a massive untapped opportunity for innovative startups to capitalize on the wave of momentum in decentralizing physical infrastructure and bring verified, real-world data on-chain. We are excited to be a part of this first-of-its-kind DePIN accelerator program in what will be an ongoing series to discover and empower forward thinking entrepreneurs.”
The virtual accelerator is open for applications beginning December 24th 2023 through January 14th 2024, with the first Demo Day being hosted at the end of February, 2024. This 6-week virtual acceleration program, being led by FutureMoney Group and the IoTeX Foundation, is focused on providing the best-in-class network and resources for founders. Participants in the accelerator program will receive support on how to build and launch their DePIN project, with specific areas of focus on mentorship, workshops in DePIN flywheel, tokenomics, pitching and funding support, tech workshops, dev modular building blocks, go-to-market support, liquidity boosting, and community growth.
The $5M USD contributed to the accelerator program will be distributed in $50K increments per project, with additional funding available for selected projects.
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