One of the most prestigious and successful incubators ever created is YCombinator; a Silicon Valley-based accelerator program headquartered in the tech capital of the world. Within 13 years Of its inception, YC helped many of the biggest companies in the world including DropBox, AirBnb, and Stripe; just to name a few.
According to their website, YC has helped over 4000 founders and 1900 startups have a total combined valuation of more than $100,000,000,000. Twice a year, thousands of hopeful startups apply to YCombinator with only a 1.5% chance of acceptance. All companies accepted into the Incubator receive $150k in exchange for a 7% equity stake in their company.
While current incubation systems have the ability to help the blockchain industry, the current infrastructure and incentives do not align with the decentralized world.
- Blockchain startups are more location independent, not always working out of a central HQ.
- The cryptocurrency market is 24/7, and does not often follow the typical 9-5 business day.
- Cryptocurreny startups have complex tokenomic models of value rather than traditional equity models.
We believe this alternative style of creation demands a new ecosystem to assist the development and growth of cryptocurrency projects.