- Polygon co-founder Sandeep Nailwal and Symbolic Capital have launched the Nailwal Fellowship, a program that provides financial support to early-stage builders transitioning from Web2 to Web3.
- Each year, Nailwal will invest $500,000 of his personal capital to support a cohort of 10 builders selected for the fellowship.
Nailwal Fellowship Supports Early-Stage Builders in Web3 Transition
Sandeep Nailwal, co-founder of Polygon, has introduced the Nailwal Fellowship in collaboration with Symbolic Capital. This program aims to provide financial support and mentorship to early-stage builders looking to transition from Web2 to Web3. Nailwal is personally investing $500,000 each year to fund a cohort of 10 selected builders.
#PolygonID – where verifiable credentials meet Web3 🏾🏼
Week #2 of your weekly round-up of the latest happening in the ecosystem of collaborators that are building, using Polygon ID’s Identity Infrastructure tools:
— Polygon Developers (@0xPolygonDevs) May 12, 2023
Nailwal Fellowship Offers Grant Money and Mentorship to Web3 Builders
Selected fellows of the Nailwal Fellowship will receive a $50,000 grant and mentorship from Symbolic Capital. The program focuses on individuals rather than teams, supporting builders at various stages, including those without a specific idea who are looking to explore the Web3 space.
Sandeep Nailwal envisions the Nailwal Fellowship as a way to support individual builders in their early stages, providing them with the necessary resources and guidance to explore the possibilities of Web3. The fellowship is not focused on funding startups but rather on empowering individuals to delve into the world of decentralized technologies.
Each Nailwal Fellow will receive a $50,000 grant, enabling them to pursue their ideas and projects. In addition, fellows will have access to mentorship from Symbolic Capital, including valuable connections to their founder and investor networks. This support aims to facilitate the growth and development of the fellows’ initiatives.
Furthermore, if a builder from the fellowship cohort establishes a company within one year after completing the program, Nailwal and Symbolic Capital will request a $50,000 Simple Agreement for Future Equity (SAFE) and token warrant. This arrangement ensures that the investors have the opportunity to obtain equity in the newly founded company under favorable terms.
The Nailwal Fellowship is open to Web3 builders worldwide, regardless of age or location. While the program offers remote participation, there are optional in-person coworking and networking opportunities available in New York, San Francisco, Dubai, and India. This allows participants to connect with like-minded individuals and potentially collaborate on their projects.
Applications for the Nailwal Fellowship will be accepted from May to early June each year. The selection process will involve interviews conducted in late June to identify the 10 individuals who will be part of that year’s cohort. The fellowship program itself will run from August through January, providing participants with six months of support, guidance, and networking opportunities.
The launch of the Nailwal Fellowship demonstrates the commitment of Sandeep Nailwal and Symbolic Capital to foster innovation and growth within the Web3 ecosystem. By investing in and supporting early-stage builders, they aim to drive the mass adoption of Web3 technologies and contribute to the development of the decentralized future.