Google Cloud has launched an Accelerator program to assist Web3 companies and emerging projects in building and scaling more quickly and securely.
Google announced on Tuesday that it would expand its Google Cloud Startup Program to blockchain startups, giving up to $6 million in partnering grants and hundreds of thousands more in Google Cloud credits to access computer processing capacity. The developers behind blockchains Aptos, Celo, Near, Solana, and Hedera Hashgraph are among the collaborators providing up to $1 million in token awards per firm.
Also Read: Cointelegraph’s Newly Launched Accelerator Program Seeks Web3 Startups
How Will This Program Help Accelerate New Web3 Projects?
According to James Tromans, Google Cloud’s Head of Web3 Engineering, the emergence of blockchain technology and decentralized networks today is akin to the rise of open source and the internet 10 to 15 years ago. As a result, just as open source advancements were crucial in the early days of the internet, blockchain is generating innovation and value creation for consumers and enterprises.
Given this, Google Cloud’s Accelerator program will explicitly target so-called Web3 startups in the early stages of development. Web3 is sometimes described as a set of interconnected open-source decentralized applications driven by blockchain computing architecture.
Over 30,000 new businesses have completed the Google Cloud Startups Program so far. Participants will have access to Google Cloud Storage, Google’s own blockchain node engine, mentors, and other resources to help firms “succeed without incurring technical debt that slows them down,” Tromans says.
Participants will also be given preferential consideration for Coinbase’s Base Ecosystem Fund, which funds projects built on Base, the exchange’s newly announced blockchain network that is compatible with Ethereum.
Additionally, the official statement by Google Clouds also mentions that these Web3 startups will get early access to Google Cloud’s Web3 products and roadmap. It will also offer participants hands-on access to learning labs and Google Cloud courses.
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