The Stacks Foundation, the non-profit organization that manages the Stacks ecosystem, announced today that it is launching the Stacks Accelerator to drive the growth of blockchain developers worldwide. The intense three-month program is supported by a leading coalition of Stacks partners, including the Stacks Foundation, Hiro Systems, Freehold and Daemon Technologies, who have initially pledged $ 4 million to support more than a hundred early stage crypto entrepreneurs. with funding, mentorship and access to the incredible community of Stacks developers.
A layer-1 blockchain designed to ease the user’s internet, Stacks brings everything from non-replaceable tokens (NFTs) to projects specializing in decentralized finance, or DeFi, to Bitcoin. By enabling scalable smart contracts for Bitcoin, Stacks offers builders a unique opportunity to create long-lasting projects on the most secure and valuable network among blockchains.
In addition to experienced builders within the Stacks community, the Stacks Accelerator will invest in startup teams interested in using the Stacks protocol to further innovate on Bitcoin. Startups at any stage and funding level with at least two co-founders working full-time are considered. The program extends up to $ 50,000 in funding for participating ventures ($ 25,000 upfront and $ 25,000 as part of the funding round), with additional funding and mentorship for startups continuing indefinitely thereafter.
The accelerator takes place online through a combination of workshops and tailor-made, hands-on mentorship sessions. Currently, the mentoring roster includes Eric Ries (author of The Lean Startup), industry heavyweights like Meltem Demirors (CSO of CoinShares), and special appearances from crypto leaders like Anthony Pompliano (Investor at Pomp Investments), Thomas France (Co-Founder van Ledger), Sergey Nazarov (Co-founder of Chainlink) and more.
Additional mentors can be viewed on the website as soon as they are announced, including from organizations such as Digital Currency Group, Princeton, Devpost, Gotenna, Techstars, Gitcoin, Startup Weekend, SOSV, Flipside Crypto, Dystopia Labs and Internet Archive. Participating companies will also have access to a potential user base and follow-up investors through the Stacks network of more than 300,000 token holders, including leading investors such as USV, Lux Capital, Winklevoss Capital and Zhen Fund.
Casey Taylor, VP Network & Development at DCG, said, “After years of network development, Stacks is making way for decentralized apps that use smart contracts to deliver engaging experiences and powerful use cases. As a member of the Stacks Accelerator, DCG is looking forward to supporting these projects and the wider effort to add functionality to Bitcoin. By building with Stacks, these teams are pioneering a generation of applications and services anchored to Bitcoin, expanding what was previously thought possible on the network and further unlocking its tremendous value. “
“With the Stacks Accelerator, we have created an offering that not only addresses the unique challenges of building in crypto, but also supports teams in solving real-world problems for end users, requiring connections and knowledge from far beyond the crypto space, said Mitchell Cuevas, Head of Growth at the Stacks Foundation. “Guided by experts at organizations within and beyond the blockchain, including Union Square Ventures, Princeton, Chainlink, Digital Currency Group, Techstars and others, founders have direct access to a diverse and in-depth array of top-tier resources.”
The accelerator is led by serial entrepreneur and author Trevor Owens, whose startups have raised more than $ 100 million in venture capital. Trevor founded the Lean Startup Machine and was one of the first advisors to the founders of Stacks when it started in 2014. An international team of experts in crypto and technology companies is being recruited to support program companies.
“Our goal is to build the best network of founders, mentors, investors and partners in the industry to give budding startups an unfair advantage when they hit the market. Stacks already offers an incredible development platform and developer experience, so we are relying heavily on that to get this program off the ground, ”said Trevor Owens, Managing General Partner of Stacks Accelerator.
The Stacks Accelerator application is available on the website, the deadline is set for May 14th. Teams are accepted on an ongoing basis, which means that early candidates have a higher chance of being accepted.