April 25, 2023

peaq and EWOR offer up to €150k early funding to DePIN builders

What's happening?

peaq teams up with EWOR, a blend of a master’s degree and acceleration program for entrepreneurs, to launch a 10-month Web3 program for dApp (Decentralized Application)and DePIN (Decentralized Infrastructure Network) founders, who receive mentorship from seasoned entrepreneurs, funding and networking opportunities.

Why does this matter?

Startups often fail, and blockchain startups fail at even a higher rate, which makes access to quality education and mentorship a must for entrepreneurs. Launched in mid-April, the program by peaq and EWOR will arm five founders with the know-how and tools they need to combat the odds. 

What does this mean for the community?

The five founders taking part in the 10-month program will build dApps and DePINs on peaq network, expanding the array of projects in the ecosystem and creating more value for the community.

The startup world may be faring better than the Hunger Games in terms of the survival rate, but it is lagging behind the Russian Roulette. About nine in ten startups fail within their first ten years, which is not the kind of statistic you’d like to be playing against when building the business of your dreams.   

Take this stat to Web3, a space known for anything but its nirvana-tier calm and stability, and things get even messier. Here, about 92 percent of projects fall off just a little more than a year after founding. And that is actually pretty much like playing the Hunger Games, the rendition where the authorities decided that two people can win, not just one — as long as they make up a cute couple that will carry the franchise. 

Good ideas don’t deserve such harrowing stats, says EWOR, a blend of a master’s degree and early-stage VC firm that identifies, educates, and invests in the most promising entrepreneurs with early cheques. We couldn’t agree more, and it’s not just talk. peaq Foundation has partnered with EWOR to launch a unique program that will grant Web3 founders building dApps and decentralized physical infrastructure networks (DePINs) on peaq the skills and knowledge they need to succeed. And there’s more than skill and knowledge to give: The program also features a plethora of networking and early funding opportunities of up to €150,000.     

Launched in April, the 10-month Web3-focused joint program brings together five entrepreneurs who have been hand-picked jointly by peaq and EWOR. These are:

  • Andres, the founder of the first PropTech company in Latin America,
  • Radovan, an LSE graduate who bootstrapped his company Kykeon Advisors from $0 to $300k+,
  • Usman, a guest lecturer at Exeter and a passionate technologist with a trove of fintech experience,
  • Faizah, an ed-tech startup co-founder and disruptor passionate about financial inclusion, 
  • Elliot, an experienced data scientist passionate about AI and blockchain. 

The program leverages EWOR’s Education Circle platform with high-quality Web3 courses co-created by EWOR and peaq. It includes weekly online sessions with seasoned entrepreneurs who have already built successful companies such as Adjust co-founder Paul H. Müller and KW Commerce founder Jens Wasel.  

The most promising projects will be able to leverage the funding opportunities provided by the two organizations. As part of the collaboration with peaq Foundation, EWOR may opt to invest in the participants’ dApp and DePIN projects, signing tickets of €75,000 up to €150,000. peaq Foundation, on its end, can bolster the builders with funds from its Ecosystem Grant Program and introductions to investors backing peaq. Where relevant, builders will also get introductions with companies and projects participating in the Gaia-X 4FM moveID project that peaq is part of alongside such enterprises as Bosch, Continental, and Airbus.

EWOR’s mission is to focus the world’s smartest people on the world’s biggest problems. Its partnership with peaq, which is working on making the Economy of Things fair and decentralized, can generate a massive impact. The goal of the partnership is to empower a handful of entrepreneurs to work on topics such as:

  • Making intimate healthcare data more secure and owned by the people
  • Peer-to-peer solar energy trading
  • Distributing machine-generated income more fairly 
“Disruptive decentralized applications are the crucial component of the Economy of Things on peaq. By teaming up with EWOR, we are focusing some of the smartest people in the world on some of the world’s most urgent challenges. We are excited to lend our support and skills to the prospective dApp and DePIN builders and help them transform entire markets and industries with Web3 tech.”

- Leonard Dorlöchter, Co-Founder at peaq

“Impact follows a power law. A small number of people are responsible for most of the change in the world. Our approach to making impact is to empower the most extraordinary visionaries to build enterprises with global impact. Through our partnership with peaq, we are granting Web3 entrepreneurs a program that will help them bring their ideas to life with all the support they need. We are making sure that the 1% who make 99% of the difference can leverage Web3 to fix the global ills of today.”

-  Daniel Dippold, Co-Founder and CEO at EWOR

About EWOR

EWOR’s mission is to support the world’s brightest minds to solve the world’s biggest problems. The first of its kind, EWOR combines an entrepreneurship academy with an early-stage VC firm to help entrepreneurial people build impactful tech companies. EWOR was built by founders for founders. They cut the fluff of early acceleration programs and provide venture capital (up to €150K), a network of unicorn founders, and high quality entrepreneurship education. If you want to build a successful company fast, EWOR is the best place to start. EWOR’s leadership team has successfully built and sold fast-growing tech companies - including a €500 Mio exit - and has collectively made over 100 angel investments. Their hand-picked network of unicorn founders, investors, and world-class mentors is one of the best in Europe. 

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