Quick take:
- Icetea Labs has tapped Polygon and Alpha Venture DAO for its first web3 accelerator program.
- The Vietnam and Singapore-based startup is targeting projects based in the Southeast Asia region.
- The program aims to help web3 startups in their fundraising efforts, market entry strategy and sustainable growth.
Icetea Labs has secured a partnership with Polygon and Alpha Venture DAO for its Web3 accelerator program. The Vietnam and Singapore-based company launched its first incubation and accelerator program for Web3 startups on Monday. Icetea is targeting projects based in the Southeast Asia region.
The company wants to use the program to support Web3 startups in key phases, including fundraising, market entry, and growth.
Accelerator and incubation programs can help startups adapt to new markets quicker by offering them expert advice and financing. Icetea has leveraged some of the best in the Web3 space by tapping Polygon and Alpha Venture DAO as key partners in the program.
The company said the first season of the program will focus on projects working on non-fungible tokens (NFTs), blockchain gaming, the metaverse, and other verticals of Web3.
The first round of applications started at the beginning of this month and the process will run through August 30.
The company is expecting 150-200 applications in total where six will be selected for the program, Tech in Asia reported.
The incubation period lasts eight weeks, will run from September to October, and will be comprised of coaching sessions and workshops, as well as, fundraising backed by top Web3 venture capital firms and angel investors.
Icetea Labs, founder and CEO Thi Truong, is optimistic that ILAP (Icetea Labs Accelerator Program) will be able to address some of the challenges facing web3 gaming models.
Although several mainstream gaming companies continue to create new verticals focused on blockchain games, they have faced strong backlash from their communities. One of the biggest drawbacks pointed out is the quality of blockchain games being built as compared to web3 games, which focus on improving user experience.
Truong thinks ILAP will bring much improvement to web3 gaming and transform the face of the industry.
“We believe that Web3 technologies will open up a new horizon of opportunities for games and gamers if applied correctly,” he added.
Truong founded Icetea Labs in 2018 and has since established itself in the industry with web3 projects like GameFi.org gaming hub and Red Kite launchpad.
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