Coinbase, Fabric Ventures, Animoca Brands and Founders Factory have launched an accelerator cohort that they claim could transform the UK’s blockchain and AI ecosystem.
This initiative, which brings together a group of companies chosen for their potential for innovation and growth, is intended to leverage and maximise the expertise of some of the biggest names in Web3 to help start-ups build and scale their ideas. It aims to encourage further investment to ensure that technology startups become a key engine of the UK economy.
Damian Routley, COO at Founders Factory, said: “By combining deeptech expertise with the power of a world-class network, we’re creating a launchpad for the next generation of breakthrough UK startups.”
Each founder, or start-up, that takes part in the first cohort will receive up to £250,000 in funding, as well as 16 weeks of hands-on operational support and guidance from the partner organisations.
The major players involved will deliver world-class business and growth training, and support on tokenomics, community go-to-market strategies, and best practices for scaling businesses in blockchain and AI.
The launch highlights the government’s desire to position the UK as a global leader in Web3, blockchain technology and AI innovation, the group said in a statement.
City Minister Emma Reynolds said the accelerator would “unlock growth, unleash a wave of productivity, and foster a new generation of tech disruptors”.
Meanwhile, Business and Trade Secretary Jonathan Reynolds, said it underlined the UK’s position as a global leader in innovation, adding: “Not only will it ensure that the UK remains a key leader in blockchain technology, but will also unlock growth as we deliver on the Plan for Change.”
