MIT and Harvard Alumni Join Forces to Launch Web3 Startup Accelerator

Updated: 11 March 2024

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Alumni from the Massachusetts Institute of Technology (MIT) and Harvard have come together to launch a new startup accelerator, specifically aimed at supporting early-stage founders in the web3 space who have ties to either of these prestigious institutions. This initiative, named the MIT x Harvard Blockchain Accelerator, stands out as it is a non-dilutive program, meaning it does not seek equity in the startups it assists. Sam Lehman, a central figure in the accelerator, emphasized, “Our focus is solely on mentorship, without any immediate intentions to invest or provide grants.”

The accelerator is driven by a team of core contributors, including Sam Lehman, Luke Xie, and Hannah Shen from MIT, along with Liang Wu from Harvard. They are supported by a group of founding mentors, all of whom are connected to these institutions. This distinguished lineup includes Tieshun Roquerre, the brains behind NFT marketplace Blur and Ethereum Layer 2 Blast; Keone Hon and Eunice Giarta, the duo behind Layer 1 blockchain developer Monad Labs; Kenny Li, a co-founder of Layer 2 network Manta; and Mirza Uddin, who leads business development at Injective Labs, known for its Cosmos-based Layer 1 blockchain network.

The accelerator also boasts mentors from renowned crypto firms such as a16z, Avalanche, Dragonfly, Galaxy Digital, Nascent, and Polygon. However, Lehman pointed out, “I’m unable to disclose their identities due to their respective companies’ policies.”

Participation in the Accelerator Program

Eligibility for the accelerator requires that startups have at least one team member with a connection to MIT or Harvard, whether as a student, alumni, faculty, researcher, or staff. This criterion ensures a strong linkage between the accelerator and its foundational institutions.

To strengthen the MIT and Harvard alumni networks as well as the broader Cambridge crypto ecosystem

The inaugural cohort of the MIT x Harvard Blockchain Accelerator is slated to commence next month and wrap up in June. The application process is currently open, with the final selection of participants to be made by the core contributors in collaboration with leaders of student clubs at both institutions. Lehman shared, “Our goal is to strengthen the MIT and Harvard alumni networks as well as the broader Cambridge crypto ecosystem.”

It’s noteworthy that Lehman also plays a key role in Beacon, another accelerator launched in 2022 by Polygon co-founder Sandeep Nailwal. However, he assures that the MIT x Harvard blockchain accelerator operates independently from his work with Beacon. In a similar vein, Luke Xie’s involvement with Press Start Capital, a fellowship program for crypto founders, is distinct from his role in the accelerator.

Harvard is a strong supporter of blockchain and they recently announced that they would be organizing the 3rd annual Harvard Blockchain Conference

Tickets are on sale now for our 3rd annual Harvard Blockchain Conference!

🗓️ Saturday – Sunday, April 13-14
📌 Northwest Building, Harvard University
🖊️ Sign-up here: https://t.co/p2aNRTH0OY

Free student tickets (with .edu) and early bird for only $20.

— Harvard Blockchain (@HBSCryptoClub) February 25, 2024

Stanford University also has a blockchain accelerator with a comparable approach, which has successfully launched companies such as Modulus Labs, Nocturne, Zero Gravity, and Caldera.