Welcome to the Moonbeam Accelerator program. We are excited to support and guide Web3 startups in building and launching their projects on the Moonbeam blockchain. This program is designed to help startups with their business efforts, provide access to the Moonbeam ecosystem, and assist with building on the Moonbeam blockchain.
I recently had a Twitter Space hosted by Nate. We shared some thoughts about the current status of Web3 and we spoke about the program in more detail, including the requirements for participating and some tips to apply. You can listen to the full recording here or keep reading to get my perspective on some of the topics we discussed.
1/ From drawing board to #DApp deployment, building a successful #Web3 startup is not an easy lift!
🔊 Tune in to the exclusive Moonbeam Accelerator space, later this week, to ask questions & learn how to take your project to the next level✨
🔗 https://t.co/Xeta3UgtZG pic.twitter.com/8PGdV66caL
— Moonbeam Network (@MoonbeamNetwork) January 17, 2023
About the Moonbeam Accelerator:
What are the minimum requirements for my project to qualify for the Moonbeam Accelerator?
- Having a good idea, which means identifying a real problem and having a solution for it;
- Having a good understanding of Web3 and specifically of Moonbeam and its potential;
- Having the resources to validate, build, and launch the project, particularly the ability to build on Moonbeam;
- Being able to focus full-time on the project during the duration of the program;
- Being highly motivated, ready to do whatever it takes, and open to learning and sharing.
We will select teams that we believe will take full advantage of the program. It’s important to note that an incorporated entity, a product, and previous funding are not necessary for qualification.
Do you have to have a deployment on Moonbeam to qualify for the program?
The requirement of having a deployment on Moonbeam to qualify for the program is not necessary, however, it is important to be committed and capable of building on Moonbeam in order to participate in the program.
Will this program help source talent? Devs? Marketing ppl? Etc.
You should not rely on us to source talent. In fact, as part of the selection process, we will validate that you have access to all the resources needed to take advantage of the program and build your project.
What should I do if I have an idea for a DApp but am too busy with my full-time job?
If you have an idea for a DApp but are too busy with your full-time job, this program may not be the best fit for you at this time. My recommendation would be to continue validating and building your idea as much as possible in your spare time, save money, expand your network, and look for grants to support the development of your project.
What sort of Marketing efforts will this program help with?
The Moonbeam Accelerator program will help with various marketing efforts to ensure that they are well-planned and effective. A good marketing strategy is built on understanding your target market, value proposition, and messaging. This is technically a validation process but it also plays a crucial role in marketing. For example, we focus on building waiting lists as a way to validate assumptions about the market, target audience, and value proposition. A well-built waiting list might take weeks of work and iteration, but once completed, it can provide a solid starting point and increased investability.
Additionally, being one of the 10 top projects built on Moonbeam will provide access to the entire Moonbeam ecosystem and special attention from the Moonbeam team, including potential support for exposure and endorsement.
My thoughts on building in Web3:
What is the most important part of running a Web3 startup?
Forget that it’s a Web3 startup and focus on building a real solution to a real problem that generates real value for real people.
What are the biggest expenses for a Web3 startup?
One of the main expenses is the team. My recommendations then include having founders and partners work (if possible) for equity or tokens, being smart with the structure of the team (think of an MVT: Minimal Viable Team), maximizing efficiency through the use of tools like ChatGPT, and outsourcing tasks when possible. Build as little as possible, validate with a waiting list, and leverage integrations and partnerships to avoid reinventing the wheel.
Does the fact crypto is a global industry make starting / marketing a small project difficult?
It can be intimidating to know that your competition is global, but it also means that your potential market is huge and growing. Focus on building your niche, regardless of where people are based.
In your opinion, are there as many companies open to investing in Web3 startups, given the current market conditions?
With fewer deals, smaller checks, and smaller valuations, the current market is more challenging for raising money than 12 months ago. However, this is good news for good teams that are serious about their projects. It’s a great time to build, with less noise and more quality. Moreover, my perception is that the sentiment for the industry is definitely optimistic for the mid and long-term.
What are the biggest factors in choosing where to deploy your protocol?
There are several key factors to consider. One of the most obvious is the technology, including specifications such as the number of transactions per second, interoperability, and ease of coding. However, another important factor that is often underrated is the community and support. Having a strong and supportive community can be crucial for the success and adoption of your protocol.
If you’re interested in learning more about the program or applying, please visit our website and submit an application. We look forward to working with you and supporting your startup’s growth and success.