Beacon - Building a Web3 Founders Support Group

June 12, 2023
Beacon Core Contributors

Those in the tech industry know that being a founder is hard. But being a web3 founder? Now that’s really hard. From shifting regulatory landscapes to entirely new business models, trying to make it as a founder in web3 is one of the most daunting challenges any entrepreneur can take on. At Beacon, we’re trying to fix that. Of course, we offer mentorship and capital, but above all else, we strive to provide a community of fellow builders to support you through the inevitable ups and downs of starting the next great crypto project. Community is at the core of everything we do at Beacon. We’ve distilled this ethos into one simple idea; at Beacon, we’re creating the world’s first Web3 Founders Support Group.

We’re Not a VC Fund, We’re a Support Group

Let us be clear, we’ve got nothing against VCs. The capital and guidance that a great fund can provide are critical elements of any startup ecosystem. However, Beacon is not a traditional VC fund. As a web3 accelerator, we take a much more holistic approach to our operations. Our mission is to create the world’s greatest network of founders, builders, and investors. Why is this community-first model so important to us? Because as builders ourselves, we know that founding is an inherently lonely journey. There are very few people who can relate to the challenges you face and, at the end of the day, every daunting decision rests on your shoulders alone. 

Our experiences as founders have led us to realize that every founder needs a strong network of support behind them. A good network is there to pick you up when you’re down, celebrate your wins, and be a sounding board when you’re struggling with tough decisions. At Beacon, we take this network concept to the next level through our concept of a Founders Support Group. Instead of focusing on pure capital and cookie-cutter lectures, our accelerator model leads with community.

Community and Support, Not Homework and Lectures

Our community-first ethos drives everything we do at Beacon. No more is this present than in our accelerator curriculum. In our weekly sessions, we host the top web3 founders in the industry to talk directly with our cohort. These sessions are intimate, free-flowing, and never recorded. This allows us to facilitate founder-to-founder discussions that lead to the greatest learning and growth. Our format allows our guest speakers to talk about much more than just canned material covering big wins and successes. We get into past mistakes and current challenges. We get into the emotional toll that building in web3 can have on you. These are discussions you simply can’t get at any other fund or accelerator.

In our opinion, this structure is so much more valuable than a program focused on prepared lectures and homework assignments. This is for two main reasons. First, we want to give our founders the time to actually work on building. How are you going to create the next great DeFi protocol or L1 if you’re stuck in lectures from 9-3pm everyday? Second, we treat our founders like grown ups. Given that we only accept top 1% founders into Beacon, our cohorts consist of individuals with extensive experience building great companies. Many are repeat founders with previous exits both in web2 and in web3. With that, we want to create space for our founders to learn from each other. Our breakout sessions and open discussions with guest speakers allow for a natural exchange of learning within the entire cohort. In our opinion, this Support Group model provides the greatest value you can get from any accelerator.

Looking Ahead

As we continue building Beacon, community-first will always be our core value. With every successive cohort, mentor added, and investor attending our Demo Days, our network of the best minds in web3 will grow. And as this community grows, we know that the value of our Founders Support Group will increase. 

Over the coming months, we’ll have some exciting updates about additions to our mentor network, new initiatives at Beacon, and ways we’ll be opening our doors to founders beyond the 10-20 projects in every cohort. For now though, we want to say thank you for all of the support we have received during our first year. We’re excited for what’s in store.

Disclaimer: This post is meant to provide general information only, and should not be used to evaluate the merits of any investment decision. It should not be taken as financial, accounting, legal or tax advice, nor should it be relied upon to recommend any investment. The opinions expressed herein are those of the authors at the time of writing and do not necessarily represent the views of Beacon or its affiliates or any individuals associated with Beacon. These opinions are subject to change without notice.