Alumni of the Massachusetts Institute of Technology (MIT) and Harvard University have joined forces to launch a new startup accelerator specifically to support early-stage founders of Web3 startups with ties to the two prestigious institutions. The initiative, called the MIT x Harvard Blockchain Accelerator, is unique in that it is a non-dilutive program, meaning it does not seek to have an equity impact on the startups it assists. Sam Lehman, one of the core members of the accelerator, emphasized: "Our focus is entirely on mentorship, with no intention of immediate investment or funding."
The accelerator is driven by a team of core contributors, including Sam Lehman, Luke Xie, and Hannah Shen from MIT, and Liang Wu from Harvard University. They are supported by a group of founding mentors, all of whom have ties to these institutions. This outstanding group of mentors includes Tieshun Roquerre, founder of NFT marketplace Blur and Ethereum second layer Blast; Keone Hon and Eunice Giarta, founders of Layer 1 blockchain developer Monad Labs; Kenny Li, co-founder of Layer 2 network Manta; and Mirza Uddin, head of business development at Injective Labs, known for its Cosmos-based Layer 1 blockchain network.
The accelerator also boasts mentors from prominent cryptocurrency companies such as a16z, Avalanche, Dragonfly, Galaxy Digital, Nascent, and Polygon. However, Lehman noted: “I cannot reveal their identities due to the policies of their respective companies.”
Eligibility for the accelerator program requires that at least one team member of a startup have a connection to MIT or Harvard, either as a student, alumnus, faculty member, researcher, or staff member. This criterion ensures strong ties between the accelerator and its parent institution.
The inaugural cohort of the MIT x Harvard Blockchain Accelerator is scheduled to begin next month and will end in June. The application process is currently ongoing, and the selection of final participants will be determined by core contributors in conjunction with student club leaders from both institutions. Lehman shared: “Our goal is to strengthen the MIT and Harvard alumni network and the broader Cambridge cryptocurrency ecosystem.”
Notably, Lehman also plays a key role in the Beacon accelerator, which will be launched in 2022 by Polygon co-founder Sandeep Nailwal, but he assured that the MIT x Harvard blockchain accelerator is separate from his work at Beacon. Similarly, Luke Xie’s involvement with Press Start Capital, a scholarship program for cryptocurrency founders, is separate from his role at the accelerator.
Harvard University is a staunch supporter of blockchain and recently announced that it will organize the third Harvard Blockchain Conference.
Stanford University also has a blockchain accelerator that uses a similar approach and has successfully incubated companies such as Modulus Labs, Nocturne, Zero Gravity, and Caldera.
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