Wormhole Foundation rolls out 'Base Camp' web3 accelerator program

The Wormhole Foundation, the contributor to the cross-chain messaging protocol Wormhole, unveiled the Wormhole "Base Camp" web3 accelerator program in collaboration with crypto investment firms Outlier Ventures and Borderless Capital.

The 12-week initiative is designed to support startups keen on building apps, products, protocols or companies that harness Wormhole's cross-chain messaging capabilities, including cross-chain liquidity, infrastructure, payments and decentralized identity, according to a statement.

The mentorship program will include workshops from Outlier Ventures' team and Wormhole's core contributors, plus an investment of $200,000 to participants via Wormhole's $50 million Cross-Chain Ecosystem Fund — managed and operated by Borderless Capital. The fund is described as an "anti-maxi" initiative that goes beyond a single chain or application, according to its website.

'Through our partnership with Outlier Ventures and Borderless Capital, we are creating a launchpad for early-stage founders to explore the potential of Wormhole's cross-chain messaging network," Wormhole Foundation EVP Robinson Burkey said. "This accelerator program is not just about fostering startups; it's about catalyzing a revolution in web3 applications, products and protocols."

"We believe that the future of web3 is moving towards secure interoperability for users, developers, founders and assets," Borderless Capital Senior Partner Alpen Sheth added. "We are excited to partner with Outlier Ventures and the Wormhole Foundation and are eager to see the innovative protocols, applications and products that this new generation of cross-chain founders will build."

In July, Wormhole announced Gateway, an application-specific blockchain (appchain) developed within the Cosmos ecosystem. The blockchain aims to connect multiple Cosmos chains and applications through a single cross-chain liquidity router.

Virtual demo day

The teams will also receive support regarding their project roadmap, community building and entity structuring. Additionally, they'll gain access to a network of investors to discuss future fundraising goals, culminating in a virtual demo day to showcase their innovations to the broader web3 community.

"We look forward to collaborating together and supporting the chosen teams to help them on their journey through our extensive knowledge and network within the industry," Outlier Ventures Chief Product Officer Benjamin Meyer said.

Applications for Wormhole Base Camp are open until December, with the 12-week program set to commence in January.

Last month, blockchain infrastructure firm Consensys unveiled a similar web3 fellowship program starting in November, offering up to $1.5 million in funding.