Entrepreneur First (EF) Startup Accelerator to Fund Blockchain Projects
Entrepreneur First (EF), A U.K Government- Based Startup Accelerator, To Fund Blockchain Startups
The world of blockchain is further gaining adoption across the globe with United Kingdom carrying out an accelerator program for potentially “high growth” blockchain startups in the country. The Department of International Trade in the United Kingdom released a report to the potential entrepreneurs who want to establish their business in the country that Entrepreneur First (EF), a pre-seed investment company will be extending its funding to the blockchain startups too. This move aims to increase the overall participation of blockchain startups in the future of technology in the U.K.
Entrepreneur First (EF) To Fund Blockchain Startups.
Entrepreneur First (EF) launched a six-month program for startups in the technological field that will see the approved businesses gain support from the pre-seed investment to improve the product and develop its team. The highly profitable firms potentially will receive further rounds of investments.
The report stated that for the business to qualify for a U.K. visa, the entrepreneur has to raise at least $64,000 USD (£50,000 GBP) from a recognized organization by the U.K government.
The report emphasized on the need for these startups to focus on solving real problems and the hard technical problems. The project aims at improving then overall quality of technology across the country with blockchain being a key area of concern. It read,
“EF is particularly interested in founders who want to solve hard technical problems. Their alumni are having an impact in fields such as artificial intelligence, drones, security, virtual reality and the blockchain and have raised funding from the world's leading venture investors.”
Furthermore the blockchain startups with the potential for high growth can apply for a U.K entrepreneur visa and a permit to launch the startup in the country. Firms endorsed by governmental firms, like EF have a higher probability to get a visa as these government affiliated organizations can endorse the startups for the entrepreneur visa.
About Entrepreneur First (EF)
The Entrepreneur First (EF) is a startup accelerator that aims at building promising high growth companies from tech graduates and employees in technology firms to develop, grow and run their own businesses. The company was founded by Matthew Clifford and Alice Bentinck in 2011. EF has built over 80 companies and raised over $100 million USD in venture capital investment with the backing of Reid Hoffman, Greylock Partners, Mosaic Ventures and Peter Thiel's Founders Fund.