Foresight X Launches $10 Million Third Cohort Accelerator — Premier Partner for Web3 Entrepreneurs
Author: Youan@Foresight X
“In both the traditional financial realm and the dynamic landscape of Web 3.0, the concept of ‘incubation’ has perennially posed challenges. However, in the rapidly evolving Web 3.0 era, where the market is burgeoning and the threshold for innovation and entrepreneurship is relatively lower, incubation has assumed heightened significance, offering myriad opportunities. At Foresight, we steadfastly uphold the belief that the linchpin in entrepreneurship, investment, and incubation lies in ‘people.’ The paramount factor in any incubator or accelerator venture is the collaboration with adept ‘people’ who contribute indispensably to our shared success. These ‘people’ encompass not only the exceptional founders and founding teams we encounter but also the internal cadre of the incubator — our ‘own people.’ This underscores the imperative for our team to consistently deliver value to the project teams we engage with.”
— Min, Partner at Foresight X
Agenda
- Our Identity: Unveiling Our Essence
- Unlocking Value: Benefits for Selected Project
- Enrollment Guidelines: Registering for the Third Cohort of Foresight X Accelerator
- Pinnacle Achievements: Milestones of Foresight X and Its Founders
Our Identity: Unveiling Our Essence
Foresight X is the Web3 accelerator under Foresight Ventures (AUM $400m), offering approximately $200,000 in funding support to each selected Web3 startup. In addition, Foresight X provides selected projects with high-quality industry resources and global community support, encompassing acceleration services across various aspects, including technical guidance, brand promotion, Tokenomics design, project operations, listing, company management, talent development, legal compliance, and more.
For a closer look, kindly visit our official website: https://www.foresightx.net/#/
Foresight X was established in early 2023, and even amidst challenging market conditions, we have tenaciously pursued our objective to continuously contribute to the Web3 landscape, prompting the question among industry practitioners, ‘Who are we?’ Over the course of a year, we have accumulated invaluable experience, learning through trial and error, and forged a robust network of professionals and developers within the industry. Rigorously refining Foresight X’s operational models, screening mechanisms, and incubation processes, our aspiration is to emerge as the preeminent Accelerator in the field.
Our conviction extends beyond the confines of a conventional Web3 accelerator. In tandem with Foresight Ventures, our aim is to be the unparalleled partners for Web3 entrepreneurs. Our identity transcends mere acceleration; it embodies a steadfast commitment to being the most trusted collaborators for those embarking on the dynamic journey into the realm of Web3.
Unlocking Value: Benefits for the Selected Project
In consideration of industry development status and strategic business planning, Foresight X places a distinct emphasis on cultivating long-term and profound collaborations through project incubation, surpassing a mere numerical focus on selected projects. This approach is geared towards optimal allocation of scarce industry resources within the market.
1.Financial Support: Beyond mere ‘incubation,’ we are dedicated investors in outstanding projects.
At Foresight, we allocate substantial funding to each chosen Web3 startup project, providing an average of $200,000 and a maximum of $500,000 in support funding. This financial backing serves as a catalyst, empowering entrepreneurs to swiftly assemble teams, advance product development, and foster community growth, particularly in challenging market conditions.
2.Expert Guidance: Foresight assembles a cadre of distinguished mentors across diverse industry domains, facilitating the accelerated expansion of startup projects.
Leveraging Foresight Ventures’ extensive industry experience and collaboration with top researchers, technical leaders, and other industry stalwarts, we continue our commitment to advancing Web3 even in bear market conditions. These seasoned professionals assume mentorship roles, offering hands-on guidance to selected projects, spanning critical areas such as technology, product development, Go-to-Market (GTM) strategy, and economic model design. Moreover, they are extended invitations as esteemed roundtable guests at the Foresight Summit, fostering offline communication with the selected projects.
3.Project Manager & Partner Allocation: Ensuring Long-term, Personalized Incubation Support.
For each selected project, the Foresight X team dedicates a partner and 1–2 proficient project managers (PM). Our carefully chosen project managers, drawn from pivotal roles in various Web3 projects, bring a wealth of experience as co-founders, CMOs, CSOs, COOs, and more. With an extensive background in market dynamics and project execution, they furnish projects with valuable strategic insights, professional counsel, and hands-on support across entrepreneurial domains such as product development, token economic design, community operations, marketing, and capital market financing operations. To ensure a continuous and personalized incubation experience, weekly project follow-up meetings are integral to the Foresight engagement model.
4.Offline Demo Day: Garnering Global Attention with Foresight.
Foresight consistently takes center stage at prestigious industry summits worldwide, expanding our industry resources and enhancing global visibility. Through this ongoing effort, we have cultivated enduring partnerships with leading institutions, media entities, and projects. In a transformative move scheduled for 2024, Foresight X will reimagine its approach by integrating the Summit with the accelerator Demo Day. As a participant in the Foresight X accelerator program, you will have the exclusive opportunity to showcase your project in an offline/online Summit attended by over 500 individuals. Typically, the audience at Foresight Summit comprises top venture capitalists, public chains, and project stakeholders within our extensive resource network. Project demonstrations will be seamlessly integrated into star-studded industry panels, facilitating enhanced exposure, international market penetration, collaboration with forefront projects, and subsequent project financing opportunities.
5.Internal Resources: The Foresight Family.
Comprising three integral segments — investment, accelerator, and media platform — Foresight Ventures is committed to generously sharing its internal resources, offered at no cost to the Foresight X accelerator program. This exclusive provision affords participants direct access to the contact information of nearly a hundred Foresight Ventures portfolios, facilitating expedited collaboration. Moreover, accelerator projects gain privileged opportunities to participate in Foresight events globally. As a distinguished Chinese media platform, Foresight News boasts an extensive reach, with its inaugural newsletter forwarded across 30+ platforms on average. Accelerator projects stand to benefit from regular newsletters, homepage features, and other bespoke services. Notably, Foresight takes pride in being the industry’s pioneering incubator/accelerator integrated with top-tier media services
6.External Resources: Forging Global Connections via Foresight.
Beyond our internal reservoirs, we champion the ethos of ‘collaborating with the best.’ Throughout the years, Foresight has maintained an unwavering pace, consistently fostering close ties with premier institutions, influential media outlets, prominent public chains, and pioneering projects within the industry. Accelerator projects gain seamless access to these coveted external resources through Foresight referrals, expeditiously facilitating critical aspects such as technology iterations, market collaborations and expansion, financing endeavors, and listing processes.
Enrollment Guidelines: Registering for the Third Cohort of Foresight X Accelerator
We have always believed that exceptional builders fear no environment, and they can persevere even in bear markets. We are committed to identifying these outstanding entrepreneurs; all you need is a compelling idea, and Foresight X can provide comprehensive assistance in terms of funding, resources, and manpower to help you realize your project dreams. Infrastructure, DeFi, Blockchain Game, and SocialFi are the directions we have long been cultivating. Aligned with the development of Web3, in this cohort, we are particularly focused on the following tracks and domains:
AI: computing power, marketplace, data, On-Chain ML models, privacy, and other tracks.
BTC ecosystem: RGB, ORDI, Taproot assets, bitvm, sidechains, and potential opportunities in btcFi.
Consumer: Blockchain Game, FOCG (fully on-chain game), creator economy, SocialFi, DID, NFT, wallet, Metaverse, ZK application, Tokenized real-world assets (ticketing, dining, membership systems).
Criteria: Eligible projects and applications should be in their initial round of financing or have completed only the first round of financing.
Application Period: From 00:00 to 24:00 UTC, spanning December 15, 2023, to January 15, 2024.
Application Process: During the specified registration period, kindly complete and submit the form. Ensure accurate selection of the project category and provide concise and clear answers to the questionnaire. If referred by a partner, please include the name of the referring organization, as this enhances your chances of standing out among the candidates.
Application Form: https://docs.google.com/forms/d/e/1FAIpQLSe-otKV36q8HSDHFmoIW_ejFoiWd3AthIm8dndh9_8tmreuLg/viewform
Selection Process:
- Within the 10 business days following the registration deadline, Foresight X will convene a discerning panel comprising over ten project managers and partners. The primary objective is to conduct an initial evaluation based on the substantive content provided in the application forms. Our commitment is to ensure that no exceptional founder goes unnoticed, with entrepreneurial ideas, intellect, achievements, and diligence serving as compelling criteria. Anticipated outcomes suggest that approximately 20%-40% of the projects will advance to the subsequent interview phase.
- Subsequently, our dedicated personnel will coordinate interview schedules with the selected projects, utilizing the contact information supplied in the registration forms. A series of focused video interviews, each lasting around 20 minutes, will ensue. During these sessions, our project managers and partners will pose queries addressing any ambiguities present in the forms, thereby gaining a more nuanced understanding of the respective projects. The objective is to meticulously select projects that demonstrate exceptional promise and alignment with the Foresight X accelerator, with an expected 30%-50% progressing to the ensuing interview phase.
- The ultimate interview stage, lasting approximately 1 hour in a video format, is designed for an in-depth exploration of founders’ entrepreneurial philosophies, project development strategies, technical frameworks, revenue models, go-to-market strategies, tokenomics, and more. It is projected that 5–20 projects will earn selection for the current incubation cycle in this conclusive round.
Pinnacle Achievements: Milestones of Foresight X and Its Founders
Foresight X, established for less than a year, has already undergone two incubation cycles. From nearly 1000 global applications, we have carefully selected 10 outstanding teams to join the Foresight accelerator, providing a total of over $5 million in funding support. Over the course of our journey, we have organized three Hacker Houses in Hong Kong, Paris, and Istanbul, collaborated with Hong Kong Cyberport for a Demo Day showcasing exceptional projects, and partnered with industry leaders such as Amazon Web Services, Google Cloud, Alibaba Cloud, Microsoft, and WeLendAge for the ‘BUIDL the New Web’ offline series, aimed at assisting Web2 professionals in transitioning to Web3, comprising four impactful events.
Furthermore, Foresight X has played a pivotal role in nurturing the Asia-Pacific developer community OpenBuild, accumulating a community of over a thousand developers. OpenBuild, supported by Foresight X, has received an official grant from the Ethereum Foundation, hosting developer-focused events such as Road to Devcon. Simultaneously, the Foresight X team has grown to comprise over 10 members, consistently providing profound support to projects within our incubation and acceleration programs.
Over the course of this year, a collective of 10 exceptional projects have been meticulously chosen for participation in the two cohorts of the Foresight X accelerator. This achievement is a testament to the unyielding dedication of the project teams and the meticulous incubation provided by Foresight X. Here, we present a glimpse into the data and progress of the projects affiliated with Foresight X in 2023:
LSDx
LSDx is a super-liquid protocol designed for all LSD assets, aiming to optimize their financial value and liquidity. Selected for the inaugural phase of the Foresight X accelerator in April 2023, the project has achieved an 80% growth in Twitter followers and a remarkable 3000% increase in Discord members. Within three days, LSDx surpassed a total locked value (TVL) of 10,000 ETH, reaching a peak TVL of $94 million. With a lockup of 10 million LSD and a daily trading volume exceeding $1.2 million, LSDx has formed partnerships with over 30 projects. The project token is currently listed on Bitget and Mexc.
Website: http://lsdx.finance
Twitter: https://twitter.com/LSDxfinance
GoSleep
GoSleep offers a global solution to sleep-related issues by integrating elements of HealthFi, GameFi, and SocialFi. Selected for the Foresight X accelerator in October 2022, GoSleep Twitter following has skyrocketed by 5400%, while the Discord community has expanded by an astounding 14900%, culminating in overall user growth surpassing 400,000. Securing investments from SevenX, Kucoin Ventures, Amber Group, Gate.io, and others, the project token is now listed on Bitget IEO, Gate.io, and Mexc.
Website: https://gosleep.pro/
Twitter: https://twitter.com/gosleep01
Midaswap
Midaswap is the first modular NFT trading platform for centralized liquidity. Selected for the Foresight X accelerator in May 2023, Midaswap has witnessed a 105% growth in Twitter followers and a staggering 1119% increase in Discord users. The project has engaged in over 80 industry PR collaborations since selection. Midaswap is available for trading on various platforms, including Bitget.
Website: https://linktr.ee/midaswap
Twitter: https://twitter.com/Midaswap_
Ion Protocol
Ion Protocol is a lending platform for staking and restaking assets. Selected for the Foresight X accelerator in July 2023, Ion Protocol has successfully completed a $2 million first-round funding, with support from notable investors such as Portal Ventures, Seven X, Bankless Venture, Blockchain Capital, Messari, Dydx, and Foresight Venture. Ion Protocol has launched the first ZKML node-level monitoring infrastructure, providing comprehensive risk control services for Staking and Restaking-based DeFi ecosystems.
Website: https://ionprotocol.io/
Twitter: https://twitter.com/ionprotocol
Glacier Network
Glacier Network creates a programmable, composable L2 data network for dApps. Selected for the second cohort of the Foresight X accelerator in September 2023, Glacier Network has experienced impressive growth, gaining 38,000 Twitter followers, a 99% increase in Telegram members, and reaching 40,000 Discord users. Glacier secured $2.9 million in its first funding round with investments from UOB Venture Management, Signum Capital, Cogitent Ventures, and Gate.io. The project has received multiple grants from Arweave, Stanford Boundless Hackathon, Aptos Grant Dao, and Foresight X Accelerator.
Website: https://www.glacier.io/
Twitter: https://twitter.com/Glacier_Labs
TonUp
TonUp is a launchpad running on the TON blockchain, discovering and nurturing high-potential projects. Selected for the second phase of the Foresight X accelerator in September 2023, TonUp has achieved a 149% growth in Twitter followers, a 170% increase in Telegram users, and has co-hosted multiple offline events in collaboration with Foresight X and TON in Hong Kong, Dubai, and Istanbul.
Website: https://tonup.io/
Twitter: https://twitter.com/TonUP_io
Quaere
Quaere, the first Web3 project blending AI companions with Astrology-based socializing. Since its selection in the Foresight X accelerator’s second phase, the project has seen a 5230% community growth. Quaere has featured in events like Hong Kong’s Cyberport Demo Day and Istanbul’s Foresight X Summit. With its Alpha version now on the App Store, Quaere’s Genesis NFTs soared from Freemint to a high of 0.4 ETH. On launch day, they ranked in the top three trends on Opensea and Blur.
Website: https://www.quaere.ai/
Twitter/X: https://twitter.com/QuaereOfficial
Discord: https://discord.com/invite/quaere
T2T2
T2T2 is a multifunctional assistant and social platform, serving as an integrated task acquisition and Web3 DID platform. Selected for the second phase of the Foresight X accelerator in October 2023, T2T2 has experienced substantial growth, with over 42,000 Twitter followers, 35,000 Discord users, and 29,000 product users. In just two months, the project has secured over 20 PR collaborations. The project token is currently listed on Bitget IEO.
Website: https://www.t2t2.com/home
Twitter: https://twitter.com/T2T2_official
