XDC Network and Foundership Join Forces to Empower Web3 Startups at XDC Demo Day held alongside Token 2049

XDC Network and Foundership Launch $2M Web3 Accelerator Program

Plans to invest over USD $2 million in funding to 10+ innovative startups developing enterprise-grade applications on the XDC Network from this program.

October 01, 2024 — Singapore, XDC Network, an enterprise-grade Layer 1 blockchain platform live on mainnet since 2019, and Foundership, a leading Web3 accelerator, have partnered to launch a 12 week dedicated accelerator program to coach startups on everything they need to become token launch ready. The collaboration was highlighted during the prestigious Token 2049 week, where Foundership organized a Demo Day at the 80RR Fintech Hub. 

The partnership plans to provide over USD$ 2 million in funding to more than 10 innovative startups, accelerating the development of enterprise-grade applications built on the XDC Network. 

The event received over 1000 registrations from startups & VCs, showcased promising startups in Gaming, Islamic Finance, RWA, Payments such as Zayn Network, MetaSoccer, Akka Finance, Circle of Games, Earnscape, Fandora, Panenka FC, Open Work, Resmic, and Zon Network, all of which presented their platform to venture capitalists, industry leaders, and Web3 stakeholders.

Many prominent Web3 funds and investors were present at the event, expressing strong interest in co-investing with entrepreneurs participating in the Accelerator Program.

Ritesh Kakkad, Co-Founder of XDC Network, made a personal appearance at the event and shared his enthusiasm:  "We are excited to partner with Foundership to support the next wave of Web3 innovators. The XDC Network is an ecosystem of possibilities, and we believe in blockchain’s immense potential to create the next round of world-changing successful ventures. Our goal is to provide the resources, funding, and mentorship to turn these startups’ ideas into reality."

Bimlesh Gundurao, Co-Founder of Foundership, added: "Our mission is to empower startups with the essential resources and guidance for success. Together with XDC Network, we are proud to foster a collaborative spirit within the Web3 ecosystem and drive innovation forward."

In addition to Foundership, XDC Network is partnering with top global  incubators like Brinc, Plug and Play, Tenity, and T-Hub to drive Web3 innovation through the XDC Accelerator Program and empowering the next wave of blockchain entrepreneurs with mentorship,funding, and resources support. 

In the first half of 2024, Web3 startups secured a total of approximately $3.7 billion in venture capital funding across two quarters. In Q1 alone, Web3 startups raised nearly $1.9 billion through 346 deals, marking a 58% increase from the previous quarter. The trend continued with another $2 billion raised in Q2, showing a modest but steady increase in investments. Categories drawing the most interest from investors include blockchain infrastructure, decentralized finance (DeFi), and decentralized social networks.

Explore opportunities at: https://xinfin.org/xdc-accelerator-program and elevate your Web3 startup today.

About XDC Network

Launched in 2017, XDC Network is a secure, scalable, and interoperable Layer 1 blockchain infrastructure designed for trade finance, RWA, Tokenization, Payment and DePIN. More details at : xinfin.org and xdc.org

About Foundership

Foundership is a global Web3 accelerator program supporting early-stage startups with resources, mentorship, and investment opportunities to drive their growth and success.