Avalanche Introduces Codebase Accelerator With $400K Prize Pool
Codebase is an accelerator by Avalanche geared towards providing support for early-stage Web3 startups creating products with real-world use cases using their blockchain. The first cohort is accepting 15 startups, with each set to receive a $50k stipend and a potential investment from a $400k prize pool.
Avalanche has officially announced the introduction of Codebase, an accelerator focused on supporting early-stage Web3 projects.
What Is Codebase?
Codebase is a 12-week accelerator that aims to support early-stage Web3 founders building on the Avalanche blockchain by offering mentorship and discounted services from various partners while funding projects and working with startups on various important aspects. These include supporting companies by building out a proper roadmap, offering “masterclass series” on product, technical development, fundraising, and more. There will be weekly calls with mentors as well as beneficial discussions with various experts from the tech industry. After 3 months of developing your product and taking in feedback from investors, you will have the opportunity to pitch your work on Demo Day. An exclusive group of founders, investors, operators and press will be present for the day, and so will a prize pool of $400k, giving participants a chance of earning a share of that investment pool should their pitch be accepted.
First Cohort Info
For the first cohort, the program will consist of 15 startups, with each set to be given a $50k stipend. Pre-registration opened on November 9th, while registration will begin on November 27th and will close on February 12th, with accepted companies set to be announced on March 18th, when the program will officially begin.
The accelerator is accepting founders with “experience in the market they are building for” and are looking for those “dedicated to expanding blockchain use through real-world applications, asset tokenization, and web3-native solutions.”
Some of the Web2 and Web3 partners providing support, mentorship and discounted services for accepted applicants include AWS Cloud, Google Cloud, Chainlink, Circle, OpenZeppelin, and more.