Neo has unveiled the first eight participants in the Web3.0 Global Acceleration Program. The initiative is a collaboration with Web3Labs, a gateway for Web3 startups in Hong Kong, which seeks to support industry growth by funding innovative projects. Projects will each receive a starting fund of US $20,000, with the potential for up to $100,000 in follow-up investments.
Support Program
The program, launched in October 2023 with a $10 million fund, reflects Hong Kong’s commitment to becoming a global hub for Web3 innovation. With Neo contributing $1 million, the program supports projects across various domains, including DeFi, AI, and gaming, aiming to accelerate their growth.
The selected projects will receive support in mentorship, investment incubation, technical and marketing support, resource integration, and legal consultation.
The program includes a 5-day Seoul Acceleration Tour and a 3-day Hong Kong Elite Mentorship Program, together offering participants insights into the latest industry trends and access to guidance from industry leaders. This aims to equip them with the knowledge and skills necessary for success in the Web3 space.
John Wang, Head of Neo Ecosystem Growth and Managing Director of Neo EcoFund, emphasized the program’s commitment to supporting the projects’ success:
“This initiative, backed by Neo, Web3Labs and other esteemed professionals, is dedicated to empowering these projects for success in a fiercely competitive industry… the accelerator program stands as an invaluable resource for aspiring entrepreneurs and innovative developers.”
Caspar Wong, CEO of Web3Labs, highlighted the program’s overarching goals:
“The acceleration program is a key strategic initiative for Web3Labs, aiming to unite more world-class public chains or institutions to jointly provide ecosystem resources to incubate early-stage outstanding projects. At the same time, we aim to bring Hong Kong’s Web3 policies and unique advantages to the global stage.“
Selected Projects
The first eight projects were evaluated based on three main factors: first, the team’s quality, experience, and ability to execute; second, the market value, an estimate of the project’s reach and ability to acquire users; and finally, projects were assessed on their level of innovation, looking at the creativity and novelty of solutions.
The projects selected for the program include TrendX, an AI-driven trading platform; EVMs, a multi-chain inscription exchange; PlayEstates, which democratizes real estate investment through tokenization; and Blade of God X (BOG X), an action role-playing game. Other projects like N2FT, OwlSync, Zest, and CHIPCHIP represent significant advancements in NFT marketplaces, media aggregation, sustainable lifestyle, and gaming platforms, respectively.
The original announcement can be read at the following link:
https://neo-blockchain.medium.com/neo-and-web3labs-announce-projects-joining-the-web3-0-global-acceleration-program-ed8496d3fc61
