Techstars, which claims its place as “the worldwide network that helps entrepreneurs succeed” boasts hosting over 4,000 events. It operates in more than 150 countries and offers mentorship from over 10,000 mentors. Alchemist is a full-service blockchain advisory and investment firm which focuses on token sales and end-to-end product development of blockchain applications.
Recently, we spoke with Hasson, the managing director of Techstars, and Nerayoff, the founder and CEO at Alchemist, about what the programme offers and how it is looking to shape the blockchain industry.
In the interview, Nerayoff explained that Ethhereum’s white paper “literally landed on [his] lap” and he was taken with the idea, so he flew to meet with Vitalik Buterin in order to help the team with funding. After assisting over 50 companies, a formal structure of an advisory was formed.
“Companies have raised an unprecedented amount of capital so as a proven [proof-of-concept] what we’ve seen so far is that tokenization is an extremely efficient and effective way to raise capital across the globe. We haven’t seen though is the ability to translate that capital yet into true usability, true adoption, and true scale. If you think about what an accelerator like Techstars and a combination of Alchemist is, you are taking the years of experience of what it takes to accelerate and grow.”
Fundamentally, Techstars and the accelerator program are looking at helping companies build and scale effectively in a world where capital is no longer a scarce resource. Owing to this, businesses and startups benefit from the program, over-and-above holding an initial coin offering (ICO) fundraiser. With thousands of mentors and advisory figures, the Techstars program is ideally suited to projects who are looking to become a business that is hoping to find success in the market.
When it comes to founders, Techstars and Alchemist are looking to work with teams and individuals with an “immense amount of vision“. Also important to the note is that diversity is a key element in the approach that Techstars has towards inclusion. The blockchain industry at the moment is male-dominated, but the programme is looking to expand the breadth of founders. In order to widen the reach and to find a healthy balance in the industry, Alchemist is hosting a “women’s only” hackathon to extend beyond blockchain and expose women with a technical background to the blockchain industry.
Applications for the Alchemist Blockchain Techstars Accelerator are open until the end of October. The programme is a 13-week mentorship-driven Accelerator programme which is structured into three key phases.
The first phase, which is roughly a month long, includes meeting with mentors and advisors and gives a “firehose of information and feedback” of projects. The programme then moves into the second phase in the next month which has a focus on traction and building. This includes project teams taking the information given in the first phase and looking for ways to implement the feedback practically. This can include token design and regulatory structure of a project, looking for clients, scaling a team, and capital raising for the company. The third phase, in the third month, focuses on taking the first two phases and “craft a story” to attract the best clients and investors.
For more information on the Alchemist Blockchain Techstars Accelerator, visit Techstars.com.