Blockchain adoption in India is at its all time high, and startups have played a major role in accelerating its growth. They have positioned themselves as the backbone of the blockchain industry and it will only strengthen the ecosystem in the coming years. Hence, to facilitate the growth of the startup ecosystem, Polygon along with Lumos Labs, an innovative management startup, have come together to launch PolygonLEAP 2021 Accelerator. This accelerator will also include leading global investors Lightspeed, Elevation Capital, Woodstock Fund, Sino Global Capital, Jump Capital and Buidlers Tribe, joining in as investment partners and mentors to the accelerator.
With the aim to multiply the growth of the blockchain startup ecosystem, we invite all the prime movers and builders to join the community by building decentralized solutions in the Polygon ecosystem.
The registration process of this accelerator starts from December 8, 2021 and is open till the next year. The last date to register is February 4, 2022.
Vision behind the accelerator
In March 2020, the Supreme Court ruled out the restrictions imposed by RBI on the use of cryptocurrencies which gave a fresh boost to the blockchain industry in India. It also encouraged the startup sector immensely with new ideas, visions, and solutions constantly emerging. The blockchain industry is expected to expand from $3 billion in 2020 to $39.7 billion in 2025 with the Asia region being at the forefront of this emerging technology.
To advance the growth of the blockchain industry and startups, Polygon has partnered with Lumos Labs to launch the accelerator to provide an impetus to the surge in innovation and identifying solutions that are seamless and effective. Lumos Labs has been immensely mobilizing the Indian blockchain ecosystem with multiple open innovation programs in recent years.
Timeline of the Accelerator
In the span of around four months, the accelerator will help the astute startups to innovate and build unique blockchain-based solutions for different defined tracks, including- entertainment, decentralized finance, decentralized applications, and open innovation. There will be meetups to engage and interact with the community and interspect the progress of the startups.
It will then be followed by a month-long Bootcamp phase where selected startups will turn their vision into reality with the help of industry leaders who will provide adequate mentorship, knowledge, and guidance to these startups to allow them to build reliable and scalable solutions. A total of 10 selected startups will get to showcase their innovative solutions on the Final Demo Day.
Read More: 7 Reasons to Start Building on Polygon Right Now
Tracks for the Accelerator
- Entertainment (Games, NFT products, Streaming services etc)
- Decentralised Finance
- Mobile first Application for Web 3.0
- Open Innovation
Startups stand a chance to win upto $9 Million+ with this PolygonLEAP 2021!
A total of $250,000 has been set aside by Polygon for Indian startups that want to build brilliant projects on Polygon, as well as mentorship, ecosystem and marketing support. The startups will also stand a chance to secure a grant amount upto $9 million+ from Elevation Capital, Lightspeed, Woodstock Fund, Jump Capital and Sino Global Capital contingent on the due diligence process and investment thesis fit with refusal rights afforded to both the funds and the founders.
With the support of the best minds, turn your idea into a business in an industry that is going to be at the forefront of the world's technology in the upcoming decade. As an innovator or budding entrepreneur who recognises the potential this space promises, this is an opportunity you cannot miss!
P.S - You can visit our website to learn more about us- https://www.polygonleap2021.com/
We have partnered with Lumos Labs a Singapore-based innovation management firm that specializes in running technology open innovation programs for multiple Indian and international technology firms, corporates, governments and investment firms.Their services include growth services, open innovation, start-up enablement, and organize large scale developer & technology conferences & hackathons. Their clients include Aeternity Starfleet Blockchain startup accelerator, T-block blockchain startup accelerator, Genesis hack -
A Blockchain Hackathon, Binance Build for Bharat Accelerator
For more details, visit - https://www.lumoslabs.co/
Lightspeed is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, and Health sectors. Since 2000, Lightspeed has backed entrepreneurs and helped build companies of tomorrow, including Snap, Affirm, AppDynamics, OYO, Nutanix, Byju's, and Udaan. Lightspeed and its affiliates currently manage more than $10 Billion across the global Lightspeed platform, with investment professionals and advisors in India, Silicon Valley, Israel, China, Southeast Asia and Europe.
For more details, visit - https://lsvp.com/
About Elevation Capital:
Elevation Capital is a leading venture capital firm which provides seed and early stage capital for emerging companies in India. Founded in 2002, Elevation is currently investing out of its seventh fund, and has over $2 billion under management. The firm has a portfolio of over 100 companies across the Consumer, SaaS, Financial services and Web 3.0 spaces. Elevation has been an early investor and partner to founders of category defining companies such as Acko, FirstCry, Justdial, Makemytrip, Meesho, NoBroker, Paytm, ShareChat, Swiggy, Unacademy and Urban Company, among several others.
More details here, visit - https://elevationcapital.com/
About Woodstock Fund:
Woodstock is a multi-asset emerging technology fund house currently focused on investments in Blockchain and Distributed Ledger Technology (DLT) with emphasis on four areas - Infrastructure layer, Decentralized Finance (DeFi), Web 3.0 protocols and Tokenization (both fungible and non-fungible). Woodstock works diligently with portfolio companies to help them scale and grow their ecosystem globally. Woodstock has made early stage investments in pioneering DLT companies - Elrond, Covalent, Terra Virtua, Propine and Band Protocol among others.
To learn more about Woodstock Fund, please visit- https://woodstockfund.com/
About Jump Capital:
Jump Capital is a thesis-driven investment firm focused on Crypto, Blockchain Infrastructure and Fintech. Jump Capital is affiliated with the broader JumpCrypto platform that is a key contributor and R&D partner to some of the leading crypto communities and critical crypto infrastructure projects.
For more details, visit - https://jumpcap.com/
About Sino Global Capital:
Sino Global Capital is an Asia-based blockchain and cryptocurrency-focused venture capital firm that provides strategic investment and support to exceptional companies and protocols that are moving the blockchain and digital asset ecosystem forward. Sino Global Capital recently launched a $200M investment fund with the support of FTX to invest in and support leading DeFi, Web 3, and mass consumer protocols.
For more details, visit - https://sinoglobalcapital.com/
About Buidlers Tribe:
Buidlers Tribe is an incubator that takes founders/startups from idea/proof-of-concept/MVP stage and works with them to build companies. They focus on Web3 companies and are platform agnostic. They vet appropriate startups for investors according to the investor’s needs and have access to various experts in the blockchain field.
For more details, visit: https://buidlerstribe.com/
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