VeChain Accelerator Program to Help Developers Become “Self-Sufficient Businesses”

  • VeChain's development has launched a program to help software architects build more practical solutions.
  • VeChain's team will help developers understand how to build products which are required by businesses.

In a recent Medium blogpost, the team at VeChain shared the news of its Accelerator Program. Given the emphasis that has been recently placed on decentralized apps (DApps), VeChain has supposedly found it tough for developers to find “sustainable models for their projects,” and trusts that this program will help them.

In particular, the purpose of the VeChain Accelerator Program was shared as aiming to,

“Provide the support needed as projects progress to becoming a successful business built on the VeChainThor Blockchain. [It] not only includes a grant […] it provides the accepted projects with exposure to resources in the ecosystem.”

Here’s an overview of the procedures in attaining the aforementioned grant:

1. Eligibility

Some of the factors that allow one to apply for said program include a project with a team, a project plan and “developed a PoC,” noting that an alpha release is preferred. If a project does not qualify for the program, the team will reassess the project and see if a “starter reward” can be offered in its place.

2. Types of Projects Deemed Valuable to VeChain Ecosystem

Here’s a list of areas that VeChain will be eyeing in projects. This is not to say that only these features will be the end determining factors, but more so assets:

  • Provides smooth user experiences and extending reach beyond crypto communities
  • Emphasizes on solving “real-world economic problems” through blockchain technology
  • Helps to increase efficiency in existing businesses while inducing cost reduction
  • Provides applications that tokenize virtual and/or physical assets
  • Explores infrastructural solutions (i.e. DeFi)

3. Value of Grant Offered

The Accelerator Program provides grants between 3 and 30,000 USD, which will be given in VET. Developers will be given an option to request their preferred mean of payments, but the final call is made by the VeChain Foundation. Those not accepted will be given $1000 USD in VTHO as Starter Reward upon assessment.

4. Accelerator Program Members Perks

In addition to the monetary sum, VeChain will offer addition support including the likes of presenting incubation services and investment opportunities that arise from discussing with established partners, offering business leads to members, allowing token issue for mature projects, introducing bounty programs, providing resources needed to expand globally, publicizing via social media platforms and more.

5. What’s expected in Application Description

Some of the details provided in the application description that the team will be looking at include project goal, technical aspects, roadmaps and the efforts that will be taken in reaching goals, marketing strategies, potential positive impact it brings to the VeChain ecosystem and an executive summary.

The entirety of the application will be filled out on an online form. Rejected projects can still try again later on, which shows how truly VeChain wants developers to strive.

As for how everything will be evaluated, the preliminary assessment supposedly involves exploring the different ways that the VeChain ecosystem will benefit from said project followed by a final evaluation which will be conducted by a program committee including partners and key players at VeChain.

VeChain (VET) Live Price

1 VET/USD =$0.1790 change ~ 1.03%

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$11.51 Billion

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