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Launched late last year by Polygon and Lumos Labs, the PolygonLEAP 2021 Accelerator announced today its first cohort of 31 startups. Aimed at driving innovation and supporting Indian startups in their Web3 journey, this accelerator will now move to support 31 selected solutions from over 270 applicants worldwide, who will receive expert advice, ecosystem support and support as they build their innovative decentralized ideas. Marketing support in Bootcamp level.
In the year Launched on December 8, 2021, the accelerator is one of the largest blockchain ecosystems in the world, developed by technology innovation management firm Lumos Labs in partnership with Polygon. It is also supported by incubation partner Buidlers Tribe and investment partners from leading Web3 venture capital firms including CoinDCX, Digital Finance Group, Elevation Capital, Hashed, Jsquare, Jump Capital, Lightspeed, Picus Capital, Sino Global Capital and Woodstock Fund. The winning startups have a chance to win a $250,000 prize pooled by Polygon.
The accelerator has seen more than 270 applications, of which 160 are from Web3 startups from around the world. The Bootcamp phase consists of startups building visionary solutions on various tracks, while the entertainment sector leads the competition in sectors such as gaming, payments, metaverse, NFTs, etc. Mentoring sessions along with many meetings and workshops are organized to help scale these solutions.
“At Polygon, we envision an open and borderless world and strive to empower new developers to build this new world. We look forward to working with the selected startups and continuing the journey of building a bright future for Web 3. – Sandeep Nelwal, Co-Founder, Polygon.
“We are excited to work with Polygon on this accelerator program as it strengthens startups in multiple ways. India ranks third in the list of countries with the largest startup ecosystem after the US and the UK, and there seems to be no stopping this growth. Along with this, for the new startups to survive It will be necessary for all the prerequisites to enter the ecosystem. This initiative is focused on solving this hurdle and we are very happy to be a part of it.” – Kavya Prasad, Co-Founder, Lumos Labs
The blockchain industry is expected to surpass $40 billion in the NFT market by 2021, an estimated $8 trillion in the metaverse market, and blockchain adoption in capital markets by 2020. It is expected to reach $27 trillion by 2027. The Asian region is consistently at the forefront of this new technology. The industry is a hub of accelerated innovation and has boosted the startup sector tremendously with new ideas, visions and solutions constantly evolving and generating huge demand across a wide range of industries in India. As the field of blockchain applications continues to grow, startups like these will continue to contribute by adapting and customizing the technology to suit multiple use cases.
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