Japanese Web3 entrepreneurs join forces to launch accelerator, raises $10M in funding


See the original story in Japanese.

Singapore-based Next Web Capital (NeW) announced on Tuesday that it has secured $10 million in funding from WiL (World Innovation Lab) and crypto exchange Bitbank in addition to the launch of an accelerator aiming to support entrepreneurs in the Web3 and crypto space. The firm supports global Web3.0 protocols, aiming to co-create new projects with entrepreneurs from Japan.

The firm was founded by seven Japanese entrepreneurs – Sota Watanabe (CEO, Stake Technologies / Founder, Astar Network), Shun Ishikawa (COO, Astar Network), Kei Seki (Fund Manager, Astar Network), Yudai Suzuki (Co-founder, Fracton Ventures), Toshihiko Kamei (Co-founder, Fracton Ventures), Naoki Akazawa (Co-founder, Fracton Ventures), and Yusuke Obinata (Web3 Foundation).

NeW plans to support entrepreneurs starting their business in the new ecosystem based on cryptos and blockchain. Specifically speaking, the firm provides mentoring by its founders and other members, share their experience in addition to offering financial support by actively participating in the DAO (decentralized autonomous organization) and other ecosystems.

Founders of New Web Capital

They also plan to use SAFT (Simple Agreement for Future Tokens) to raise funds for participating entrepreneurs. Expressing his expectations, Masaya Kubota, Partner at WiL, says,

In encouraging more and more Japanese startups to expand into the global market, I am glad that such young and talented members have joined forces. We want to push them and hope that they will become role models and create a new image of entrepreneurs in the Web3 world.

Toshihiko Kamei, one of the co-founder of NeW, says

For entrepreneurs, especially in the Web3 and crypto space, it’s important to start their business globally from Day 1. Seeing global projects by Japanese entrepreneurs such as Astar Network, UXD Protocol and InsureDAO, more and moe Japanese entrepreneurs are taking on global challenges but the the number of them is still limited.

While technologies, domains, and regulations in each country are changing at a rapid pace, Web 3.0 entrepreneurs are blazing new trails. Our intention to encourage more entrepreneurs from Japan has led us this initiative. The seven of us expect to become role models for Web 3.0 entrepreneurs by being at the forefront of the world ourselves, and also doing our best to support them so that they can become the next role models for entrepreneurs who are willing to take on the world.

It is yet to be decided whether NeW will hold an event-driven acceleration program like more than a few existing accelerators have been doing. If you are interested in joining the program, you should directly contact anyone of the founders or e-mail them through their website.