Draper University and VeChain partner to launch Web3 accelerator programs

There will be 40 scholarships for eligible future founders as well as $100,000 in funding for projects.

Draper University, an institution founded by the crypto proponent and venture capitalist Tim Draper to support entrepreneurship training, has partnered with blockchain platform VeChain on the launch of new programs targeted at Web3 adoption.

The partnership will see Draper and VeChain collaborate on two programs- a Fellowship certificate course and a Web3 accelerator program.

Programs for developers and Web3 startups

In an announcement published Wednesday, Draper University said the VeChain Fellowship program will take four weeks, with participants involved in training around entrepreneurship and blockchain fundamentals.

Silicon Valley experts and blockchain leaders will help developers and entrepreneurs learn skills that will enable them to launch Web3 startups. These projects will be powered by VeChain, the firms said.

The program will also feature 40 scholarships for qualified future founders.

The VeChain Web3 Accelerator program targets high-growth blockchain projects in decentralised finance (DeFi), SmartNFTs, the Metaverse and gaming.  These companies should either be built on VeChainThor or have plans to go live on the network. 

$100k in funding to each of 12 teams

The accelerator program opens up opportunities for 12 teams, which once admitted, will each receive $100,000 in funding in exchange for a 5% equity stake.

Tim Draper, who founded the University in 2012 said:

"Great to see VeChain team up with Draper University to bring entrepreneurs together to develop on the VeChainThor platform.”

He added:

“Draper Ecosystem supported VeChain early, and it is awesome to see them become a blockchain market leader. Founders in the program will have access to Draper University entrepreneurial education in addition to VeChain technical resources.”

The VeChain Fellowship program is set to run from 18 April to 13 May 2022. The Web3 Accelerator, on the other hand, will run from 11 July to 7 September this year.

Interested individuals and projects can apply for admission at www.drapervechain.com.