The program called ‘Odyssey’ aims to establish a unique environment with tailormade approaches to business education for each participating Web 3.0 project.
Founded in 2017, Gotbit Hedge Fund has grown to become one of the leading crypto market makers, with over 250 live clients as well as 64 supported CEXs and DEXs.
The company also has an affiliated VC fund to provide both financial and managerial backing to Web 3.0 startups and is proud to announce the launch of its accelerator program that took place on April 10, 2023.
What is the Odyssey accelerator program
The Odyssey accelerator will leverage the expertise of the Gotbit team, which consists of more than 140 professionals, including ex-traders and managers of global financial institutions such as Goldman Sachs, McKinsey and Deloitte.
The program focuses on providing business education to blockchain and crypto startups.
Currently, Odyssey is oriented toward DeFi and Web 3.0 infrastructure projects and empowers them not only with complex onboarding to the decentralized space but also with all the necessary tools for creating a sustainable business.
The first wave of the program has seen 10 innovative startups joining the accelerator while the total number of processed applications exceeded 200.
Alex Andryunin, CEO of Gotbit, said,
“Odyssey bets on using an individual approach to boosting Web 3.0 businesses. Besides the general recommendations, each project gets a personal touch, working closely with our team and high-level mentors.
“What’s also exciting about the program is that it grants access to Gotbit’s wide network of individual investors and partner VC firms.
“Some of the top crypto investment companies that have already funded our participants are Borderless Capital, Coinbase Ventures, Jump Crypto, Polygon Ventures, Algorand Foundation and Cogitent Ventures.”
As a result of completing the programthat is supposed to run for two months all startups will have their products ready to enter the market and raise their first or next round.
The Odyssey team has 16 members, among which are the company’s CEO Alex Andryunin, co-founder of Gotbit Mark Strelchik, ventures lead Peter Derlugov and head of consulting Pavel (0xsmoky), as well as five analysts, three researchers and additional personal assistants.
The list of mentors that bring their broad vision of Web 3.0 to the Odyssey accelerator features the industry’s masterminds from GMX, dYdX, Avalaunch, Kosmos and other prominent crypto-related entities.
How to participate
Odyssey is looking to support pre-seed and seed-stage projects as well as projects that raise funds through private token or equity sales.
They all should have the MVP that is ready for demonstration and has a market capitalization of over $7 million.
A fully-staffed and highly experienced team with an academic background is also required. The only exception is that the project may not employ any marketing specialists.
In a month, the program will publicly open the application process for new candidates.
In order to increase their chances of joining the Odyssey accelerator, startups will need to obtain a recommendation either from the current participants or mentors.
Later, Gotbit will hold its large event for entrepreneurs called, ‘Demo Days,’ which will be attended by all major crypto VC funds.
It is designed to mainly support early-stage companies that develop innovative solutions for DeFi and Web 3.0 infrastructure.
Odyssey offers an individual approach to each participating project, ensures access to its inner network of top crypto VCs and attracts the crypto industry’s big names as mentors.