AngelBlock, the new non-custodial fundraising platform that gives investors more oversight and control over the projects they invest in, said today it’s relaunching its startup grant program. The program is all about helping innovative Web3 startups get their ideas off the ground by providing them with initial funding and guidance, and the prospect of further capital raises down the road.
According to AngelBlock, promising startups that meet its program criteria will be awarded a grant of $15,000 in $THOL, the native cryptocurrency of its platform. In addition, select projects will also be invited to join its incubation program, which goes beyond funding to provide assistance and guidance on matters such as tokenomics, code audits, regulations and compliance, user interface development and more.
The program was announced in a blog post and will continue on a rolling basis, meaning there’s no end date. Instead, AngelBlock aims to continue dishing out grants on an ongoing basis, whenever they’re merited.
AngelBlock stressed that its grant program provides much more than just funding, with each successful project that applies effectively becoming a member of the AngelBlock community, where they’ll receive additional exposure and support as they grow their business.
Crypto projects will need to meet AngelBlock’s eligibility requirements, which stipulate that they must be at the pre-token generation event stage and show market traction. The grants are restricted to projects that operate a token or hybrid token/equity based model. For more about the rules, projects can check the full terms and conditions here.
Even more enticing for project founders is the prospect of additional funding in the event they manage to achieve their initial objectives. Those that advance towards their token generation event will also have the opportunity to raise additional capital via AngelBlock’s decentralized protocol. AngelBlock’s platform provides tools for token distribution, milestone governance and vesting, as well as liquidity bootstrapping programs and access to a network of mentors.
AngelBlock’s platform is notable for its efforts at increasing cooperation between startups and investors by ensuring their interests are aligned. Access to any capital raised is based on merit, with projects required to meet specific milestones to unlock the funds investors have pledged. This gives investors more oversight, with each milestone followed by a token-holder vote. The milestone will only be accepted when a majority of investors votes in favor of it. Otherwise, the project’s team will have to redouble their efforts in order to unlock the next chunk of funding.
AngelBlock said version two of its startup grant program was made possible by close partnerships with the European Tech School, an organization devoted to educating the community about blockchain and Web3, ETH Warsaw, the organizer of numerous Ethereum hackathons and other events, and DataDash founder Nicolas Merten, a renowned crypto YouTuber and thought leader.
Startups looking to apply for an AngelBlock grant can do so here.
Image source: AngelBlock