Lumos Labs Unveils Second Edition of Hatch Web3 Accelerator for Hedera to Support Blockchain Startups to Build and Scale Innovations

After a record 500+ registrations in the first cohort, Hatch Web3 Accelerator is back again to boost the Web3 ecosystem and provide more opportunities and prizes to potential Web3 startups. 

‍Bangalore, March 2, 2023: Lumos Labs, a Web3 innovation enabler and The HBAR Foundation, aimed at supporting creation of Web3 communities built on the Hedera network,  are back with the second edition of the Hatch Web3 Accelerator for Hedera. The accelerator will be open for early-stage startups and innovative web3 projects being built on Hedera, a decentralized public network offering fast and secure transactions whilst maintaining a carbon-negative footprint. Interested founders and visionaries can register here until April 30, 2023. 

This will be the second cohort of the Accelerator previously  announced at the inaugural edition which ran last year from August to December, 2022 and saw a whopping 500+ web3 registrations. For the first shortlist, 20 startups were selected of which top 3  innovative solutions-  Alive, Streammoney, and Karpine won from the grand prize pool of $150K along with ecosystem and marketing support. In this second cohort, the top solutions will also be eligible to win from a prize pool of $150K and access to expert mentorship, ecosystem support and go to market support. 

Similar to the primary cohort, the shortlisted startups from this edition will also go through a bootcamp phase to build or refine their web3 solutions on the Hedera network and get the chance to learn from leading industry players. They will additionally be privy to one-on-one mentor sessions, workshops, meetups, and expert guidance to help them scale up their projects and navigate the Hedera network to leverage its enterprise grade technology, speed, scalability, and security. 

Hosting four diverse tracks focused on overarching themes of Sustainability, FinTech, Crypto Economy, and Metaverse,  the five-month long accelerator is set to have a huge focus on scalable solutions, much in line with the HBAR Foundations’ focus on sustainability with themes like ESG Reporting, Sustainable debts/green bonds, Enterprise grade infrastructure, Institutional DeFi, Stablecoins, Permissioning, Payroll management, Gaming, Consumer Engagement, Social DeFi, etc, under each track.  

“At The HBAR Foundation we witnessed some amazing potential and talent in the first cohort of the Hatch Web3 Accelerator last year and were glad to have supported the top 3 winners for their innovative solutions. Working with Lumos Labs again gives us another great opportunity to see even more of the incredible Indian startup talent. We are aiming to nurture futuristic web3 startups who can utilize the Hedera Network services in novel, interesting and innovative ways.”  Rob Allen - SVP of Ecosystem Acceleration, HBAR Foundation 

“Web3 startups with their out of the box thinking give us new perspectives of looking at the web3 world. Having recorded a brilliant response in the first cohort of the Hatch Web3 Accelerator, both the HBAR Foundation and the Lumos Labs teams are geared to see more visionary ideas and solutions which compel us to rethink our understanding of the web3 sector and what it has to offer. We are ready to support startups once again in their journey of achieving global applicability, scalability and market ready accessibility.” Kaavya Prasad - Founder, Lumos Labs,

The Hatch Web3 Accelerator is open across India for registrations for its second cohort till April 30,2023. Web3 startups ready to take the next step can apply here - https://www.f6s.com/hatch-web3-accelerator-for-hedera-2023/apply 

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ABOUT THE HBAR FOUNDATION

The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem. 

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org. 

ABOUT LUMOS LABS: 

Lumos Labs is an innovation management firm determined to drive Web3 innovations  to the forefront in India which is now expanding into a Metaverse with a pioneering solution. Lumos Metaverse, a project still underway, aims to establish a singular one-of-a-kind platform that caters to developers as they learn, earn, and build in it. It will allow them to find global Web3 opportunities which are accessible and will become a talent hub for global Web3 firms. With over 45 programs run with relevant Web3 and blockchain players, such as Binance, CoinSwitch Kuber, Polygon, NEAR, etc, and also with the Government of Telangana, Lumos Labs has build a strong 60K developer community and is focused on solving the challenges faced by them in perpetuity.

For more details, visit - https://www.lumoslabs.co/