Draper University, a training center for entrepreneurs founded by billionaire venture capitalist and early crypto adopter Tim Draper, has partnered with blockchain application platform VeChain to launch new programs for those interested in starting and scaling Web 3 businesses.
The four-week VeChain Fellowship certificate program includes entrepreneurship and blockchain fundamentals to help attendees launch their own Web 3 startup powered by the VeChain Thor public blockchain. Draper University will then select about a dozen members of the fellowship program to continue on through the VeChain Web 3 Accelerator, where each participant will receive $100,000 in funding in exchange for a 5% equity stake in their startup.
Draper University previously held similar programs in partnership with blockchain innovation lab Tezos Israel and finance-focused blockchain Algorand. The broader Draper Network of investment funds was an early backer of VeChain, which is a blockchain platform for supply chain and business process management.
Draper University CEO Asra Nadeem told CoinDesk in an interview that the center’s support doesn’t end on graduation day. A demo day held at the end of the program allows graduates to raise additional funding from outside investors. The graduates are also put in front of the roughly 18 global funds in the Draper Network for potential investment.
On the operational side, Draper University introduces graduates to potential customers through the Draper Network. The organization can also provide hiring assistance to connect graduate companies with technical, sales and marketing talent, said Nadeem.
The application period for the programs is now open. VeChain Fellowship program will run from April 18 through May 13, while the Accelerator will operate from July 11 to Sept. 7.