Web3 should move the internet towards decentralization where big powerful companies lose ground and the users of applications and websites are the ones that determine policies and progress.
Web3 should bring better privacy, better transparency, enable data and content ownership, enable digital identities and incentivize decentralized development by providing financial incentives. A decentralized blockchain is a perfect basis for web3 applications.
Blockchains that function as smart contract platforms naturally allow the use of a native currency (XTZ in this case), utility tokens, and governance tokens to allow any form of financial incentive for users and devs to participate. This also allows funding rounds to kickstart and build the initial web3 application.
Last week, NFT platform H=N showcased Tezos’ web3 power by remaining unstoppable after the main website went down. It shows how web3 allows non-custodial ownership of assets/ NFT’s and how a website is nothing more than a front-end user interface of a set of smart contracts that interact with a decentralized blockchain.
Today, Entrepreneur First, the world’s leading investor in founder talent, has announced the launch of a unique blockchain-focused company-building platform: Entrepreneur First Web3 on Tezos.
It aims to attract new potential founders to the web3 world. It will use EF’s proven company-building methodology, where talented individuals will find a co-founder, develop ideas together and pitch for investment after three and six months.
Technical training and guidance will be provided by experts from the Tezos community.
Entrepreneur First provides the world’s most talented and ambitious individuals with a platform to build a global technology company from scratch.
The talent investor has seen over 500 companies from scratch; more than 3000 alumni worldwide, and a portfolio valued at over $5bn.
EF companies include Tractable (computer vision, currently valued at $1bn as of June 2021), Magic Pony Technology (AI, acquired by Twitter for a reported $150m), Merkle Science (predictive blockchain monitoring and investigative platform), Propine Capital (digital securities services), Aztec Protocol (scalable privacy on blockchain), Cleo (fintech), accuRx (healthcare communication platform), OpenCosmos (space), Transcelestial (satellite communications) and many more.
Entrepreneur First is accepting applications until the end of May 2022. The initial two cohorts for 2022-2023 will select 40-50 founders to participate in an in-person programme in London.
Over the course of six months, successful founders will find a co-founder, receive funding, benefit from curated workshops and support, and gain access to Entrepreneur First’s renowned network of investors, founders, and mentors, which frequently leads startups to capital, employees, and strategic partner relationships.
Matt Clifford, co-founder and CEO at Entrepreneur First commented:
“Entrepreneur First was created to give founders a platform and community to find their co-founder, develop ideas and get customer traction, fast.
This platform is ideal for founders who already have a clear conviction to build for a decentralized future, and want to do it as part of a tight-knit community of potential co-founders and collaborators.”
The platform will seek world class talent amongst ambitious people in the first few years of their career. It will look for technical expertise that will enable founders to build web3 enterprises, although technical support and mentoring will also be provided throughout.
For more information on the Entrepreneur First platform, click here. Applications for Entrepreneur First Web3, with Tezos (London) are open now.