The crypto world has been growing exponentially since the emergence of Bitcoin but the bear market has caused drawbacks in the crypto startups. Sandeep Nailwal and Symbolic Capital, the venture capital firm which he has co-founded, have now launched the Nailwal Fellowship with an aim of providing financial support to early-stage Web3 builders. With the help of this Fellowship, 10 builders will find solace from the difficulties caused due to the bear market.
The Nailwal Fellowship emphasizes on supporting individuals rather than a team. Nailwal stated in an interview with CoinDesk that it is about “backing individuals who are at very early stages with some of them not even having an idea, yet they are still willing to explore”. All the links aspiring builders will receive, or as they call it grant money, are $50,000.
The Fellowship also provides mentorship by Symbolic Capital, it will include access to the networks of both their project founder and investor. There is also the opportunity of an additional funding in the form of a SAFE (Simple Agreement for Future Equity) worth $50,000, which guarantees the investors of equity on the most favorable terms. Aspiring Web3 builders of all age and geography are open to join the program. Those who wish to attend the networking events in-person can join in four locations: Dubai, India, San Francisco and New York.
The Nailwal Fellowship will start its yearly application process from May to early June. After the examinations are held, the 10 participants are selected, and the Fellowship stretches from August until January. Symbolic Capital was initiated a year before to back early-stage Web3 projects with a fund of $50 million.
To motivate the Web3 builders and fill up the gap created by the bear market, Sandeep Nailwal has put forward his own fund towards the Nailwal Fellowship enabling builders to explore new possibilities. The Nailwal Fellowship offers an opportunity for aspiring builders to find a foothold in the crypto world with mentorships, grants and the additional support from Symbolic Capital.
Andrew Watson
- 2023-05-15
Financial Support to Early-Stage Web3 Builders with Nailwal Fellowship
The Nailwal Fellowship is a program that provides financial support to early-stage Web3 builders with the help of grants, mentorships, and access to networks of project founders and investors. Aspiring Web3 builders of all age and geography are open to join the program.
