Astar Network is set to launch a Web3 incubator for blockchain project developers in co-op with Sony Network Communications. Enrollment was open from February 17 to March 6. During that period, startups from all across the world filed over 150 applications.
Upon review of the applications, up to 15 participants will be selected. Those entrants will join the incubator and will have access to educational sessions from March to June, facilitated by Sony, Astar and other guest mentors.
A Singapore-based company, Startale Labs, whose CEO is also the founder of Astar Network, organizes that incubator.
The selected startups will be curated by Web3 representatives including Ryohei Suzuki (head of Sony Network Communications in Singapore), Sota Watanabe (founder of Astar Network), Ben Pershick (partner at Polychain), Bill Labun (grants management leader at Web3 Foundation) and Michael Smith, Jr. (Director of Startups at Microsoft).
Developers are expected to attend seminars conducted by large-scale investment companies, namely Fenbushi Capital, Dragonfly and Alchemy Ventures. Participants will also benefit from knowledge of current business strategies.
While Sony Network Communications is exploring blockchain from an entertainment and financial industry perspective, its incubator primarily addresses the challenges these industries face in the transition to Web3. It will have a special emphasis on NFT and DAO.
I am amazed to see our developer community grow this quickly and welcome the new projects joining our Web3 Incubation Program with Sony Network Communications. I’m ready to begin the next stage of our program, when our incubated projects begin to work with an elite group of mentors from AWS, Polychain, Microsoft, and moreemphasized Sota Watanabe, Founder of Astar Network.
The display of the most meritorious participants in the incubation program, who will receive funding, will take place during Japan Blockchain Week in June, at Sony Group headquarters in Tokyo.
An incubator within the Web3 sphere refers to initiatives designed to help developers of blockchain projects in the early stages of their venture. Training, consulting, accounting, and legal counsel are all to be provided for free or at a reduced cost.
A subsidiary of Japan's Sony Conglomerate, Sony Network Communications is renowned for its electronics. Yet there are many different enterprises under its management involved in music, film, video games and other industries. Sony Network Communications is creating diverse products and applications in artificial intelligence, the Internet of Things, and communications. The company has recently taken a keen interest in NFT.
Astar Network is one of Polkadot's pioneering parachains. Providing a decentralized blockchain that is highly scalable and enables smart contracts across multiple blockchains, the company is making significant advancements in Web3 ecosystems. A dApp incubator was also established by their effort.
