Foresight Ventures: Foresight X Launches $10 Million 2nd Cohort Accelerator — How to Apply?

7 min readJun 5, 2023

The second cohort of Foresight X Accelerator is now open for applications, with a special focus on AI+Web3, ZK Machine Learning, Bitcoin ecosystem, LSD-Fi, NFT-Fi, PoS node services, DID and all cutting-edge fields embracing change and innovation. The application period will close at the end of June.

I. Who We Are

Foresight X is a Web3 accelerator under Foresight Ventures (AUM $400m), focusing on three core segments: Accelerator, Ecosystem Grant, and Research Grant. Foresight X aims to support the rapid growth of Web3 startups in the fast-evolving industry. Additionally, we foster collaboration between projects and leading public chains. We have also established the Research Grant to advance cutting-edge scientific research in the Web3 space.

Website: https://www.foresightx.net/#/

Foresight Ventures is a research-driven Asian leading Web3 venture capital. We promote the long-term, healthy and sustainable development of the Web3 industry through investments, media platforms, project incubation, and industry research.

Website: https://www.foresightventures.com/

Foresight News is the most influential multilingual Web3 media outlet in the Asia-Pacific. Since its establishment in January 2022, it has rapidly become one of the most influential Chinese-language Web3 media platforms, with a monthly PV exceeding 2 million on its Chinese platform alone. With fast and high-quality content, Foresight News has launched nine major products, including Foresight Wiki, the most comprehensive Web3 organization/project database in Chinese; Foresight Calendar, the most widely subscribed Web3 calendar for professionals; and Foresight Job, a job aggregation platform for the Web3 industry. It has become the largest content-driven comprehensive platform in the Chinese-speaking Web3 world.

Website: https://foresightnews.pro/article

II. Foresight X Business Segments

A. Accelerator Program

Foresight X periodically opens its Accelerator Program based on industry development and business planning. Each year, a total of $10 million in funding is allocated to Accelerator projects. We provide approximately $200,000 in financial support to selected Web3 startup projects. In addition, Foresight X offers selected projects access to high-quality industry resources and global community support, including guidance in the technology, brand promotion, tokenomics design, project operations, listing, company management, talent development, legal compliance, and more.

B. Ecosystem Grant

Through collaborations with leading public chains, infrastructure providers, DAOs, universities, and other entities within the industry, we leverage the Foresight brand to launch innovative online/offline activities and initiatives. Outstanding projects showcased in these activities will receive special bonuses from Foresight, with no upper limit on the prize pool. Stay tuned for the Foresight X series of online and offline events!

You can find our areas of interest, tracks, and other related information on our official website. We welcome like-minded ecosystem participants to join us in building Web3 together. (https://www.foresightx.net/#/ecosystem)

C. Research Grant

As a research-driven Web3 investment fund, Foresight Ventures actively seeks talented individuals with technical and research expertise. Technology is the infrastructure of this industry, and we aim to develop our Web3 journal in a more professional, systematic, and academic manner, fostering knowledge in the field of blockchain/crypto technology and related areas. We encourage scholars, research centers, students, and anyone interested in crypto research to submit their project proposals.

You can also find our areas of research interest and directions on the official website and submit your application. (https://www.foresightx.net/#/research)

Foresight X has officially announced the opening of the second cohort of the Accelerator Program. The application process for this cohort will close at the end of June 2023.

III. What are the benefits for Accelerator projects?

Foresight X provides comprehensive support and assistance to selected Web3 projects in order to help project teams develop better and faster in this competitive market.

Our Accelerator services include, but are not limited to, the following:

Funding Support: We provide incubation funding support of approximately $200,000 for each selected project.
Expert Guidance: Each project is assigned 3–5 mentors and 1 fund partner who provides practical guidance and industry expertise. Our experts cover various areas including company management, product design, technical development, marketing, tokenomics design, legal and regulatory matters, and more.
Media Matrix: We share Foresight’s media resources within the industry to help establish networks and support project teams in achieving success in the ever-changing market.
Funding Resources: Outstanding selected projects may have the opportunity to receive further investment from Foresight Ventures and access resources from Foresight’s overall investment network, helping them secure investment opportunities from other leading VC firms globally.
Research Support: As a research-oriented fund, Foresight Ventures’ analysts and Research Grant team capture the latest industry trends and cutting-edge technological developments in various verticals, which are then shared with the selected project teams.
Ecological Cycle: We leverage the overall brand resources of Foresight, including incubation, primary investment, secondary market-making, and collaboration among invested companies, to empower selected projects and establish a collaborative ecosystem.
DemoDay/Hacker Hous and Other Online/Offline Events: Selected projects will be invited to participate in Foresight X’s global event series, showcasing their projects to specially selected investors, media outlets, and potential business partners.

IV. How to apply for the second cohort of the Accelerator?

Perhaps all you need is a compelling idea, and we will help you with the rest…

If you aspire to venture into Web3 entrepreneurship or if you possess technical skills but are unsure how to apply them in Web3 application scenarios… you can find some ideas we offer and discuss them with us: https://www.foresightx.net/#/accelerator

For the second cohort of the program, we will focus on AI+Web3, ZK Machine Learning, Bitcoin ecosystem, LSDFi, NFTFi derivatives, PoS node services, DID, and all cutting-edge fields that embrace change and innovation.

Foresight X periodically opens accelerator programs based on industry development and business plans. You can stay updated on our latest announcements through the Foresight X official website, WeChat official account, Foresight News, Twitter, and other media platforms. You can also join our developer Telegram community:

A. Online Application

Fill out the project-related information on the application page. (https://www.foresightx.net/#/accelerator/form)

After submitting your application, our team will conduct a preliminary evaluation to determine if your project meets our accelerator service standards.
If your project passes the initial assessment, we will invite you for an interview via official email (fxofficial@foresightx.pro) to further understand your project and evaluate your team.
Upon successful completion of the interview and evaluation, selected projects will receive our offer.

B. Offline Application

Foresight X organizes workshops, hacker houses, demo days, meetups, and other events in various locations worldwide in collaboration with partners. You can connect with our members and share your ideas by participating in these offline activities. Outstanding talents may receive referral opportunities.

C. Partnership Referral

Foresight X has gathered a wide range of industry resources and established unique referral channels with major public chains, venture capital firms, developer communities, and more. You can contact the partnerships displayed on our official website and, after gaining recognition, proceed with the referral process. Projects referred by Foresight X partners will receive focused attention and evaluation.

Review of Foresight X Inaugural Accelerator Program

The first Foresight X Accelerator received over 500 project applications from more than 30 countries worldwide. After a rigorous selection process, 7 outstanding projects were chosen to participate in the inaugural Foresight X Accelerator program. These projects span various domains such as GameFi (GoSleep, Spacenation), ZK Infra (Hyper Oracle), LSD (Ion Protocol, LSDx), Metaverse (Airena), and NFTFi (Midaswap). The selected projects received a total of $2.5 million in funding from Foresight X, along with tailored professional acceleration services throughout the program. These services encompassed technical support and guidance, brand marketing planning and execution, economic modeling, operations, listings, company management, talent development, legal and regulatory compliance, and more. Foresight X also facilitated investment opportunities from prominent institutions such as Sequoia Capital, DAO5, BITKRAFT Ventures, SevenX Ventures, Amber Group, and KuCoin Ventures for its member projects. Additionally, the accelerator program offered global events like HackerHouse, Hackathon, and DemoDay, where participating projects had the opportunity to showcase their progress. Outstanding projects may also receive follow-on investments from Foresight Ventures.

For more project details, please refer to: https://foresightnews.pro/article/h5Detail/27072

Foresight Ventures founder Forest Bai stated, “As one of the leading crypto venture capital firms in Asia, we understand that bear markets are periods of massive innovation and growth. I am very pleased with the entrepreneurs selected for our inaugural accelerator program. We have allocated $10 million to launch Foresight X with the goal of providing opportunities for communities and startups from developing regions to turn their ideas and visions into reality. Opening the doors of innovation for talented entrepreneurs worldwide and increasing the inclusivity and sustainability of their projects is something we strongly support. Regardless of market fluctuations, Foresight X will continue to contribute to the healthy development of the industry.”

The Foresight X accelerator program aims to support an open world with inclusivity, transparency, and decentralized governance. It strives to create a more sustainable and digitized future.

About Foresight Ventures

Foresight Ventures is dedicated to backing the disruptive innovation of blockchain for the next few decades. We manage multiple funds: a VC fund, an actively-managed secondary fund, a multi-strategy FOF, and a private market secondary fund, with AUM exceeding $400 million. Foresight Ventures adheres to the belief of a “Unique, Independent, Aggressive, Long-Term mindset” and provides extensive support for portfolio companies within a growing ecosystem. Our team is composed of veterans from top financial and technology companies like Sequoia Capital, CICC, Google, Bitmain, and many others.

Website: https://www.foresightventures.com/

Twitter: https://twitter.com/ForesightVen

Medium: https://foresightventures.medium.com

Substack: https://foresightventures.substack.com

Discord: https://discord.com/invite/maEG3hRdE3

Linktree: https://linktr.ee/foresightventures

Disclaimer: All articles by Foresight Ventures are not intended to be investment advice. Individuals should assess their own risk tolerance and make investment decisions prudently.