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<img src="attachment:e8dd8534-aa96-4ba4-8b67-a1de2576433a:proj-catalyst.png" alt="attachment:e8dd8534-aa96-4ba4-8b67-a1de2576433a:proj-catalyst.png" width="40px" />
The Cardano X DraperU Founder Residency Program is proudly funded by the Cardano Community Treasury, made possible through a community-approved vote via Project Catalyst
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Supporting the growth of the best Web3 innovators!
We are on the lookout for innovative Web3 teams to come join our 5 week+ Silicon Valley residency program and receive 42,000 ADA, equity free grant
→ Learn from Web3 industry experts on topics like:
- User acquisition, growth & sales
- Creating an MVP
- Tokenization
- Customer Discovery & PMF
- Fundraising & GTM strategy
→ Potential to get investment from the Draper Venture Network
→ What’s in it for you?
- 5 week+ Program in Silicon Valley
- 42k ADA in funding to kickstart your project
- 20 companies will be selected: from ideation, MVP, pre-seed
- Co-living experiences in the largest community space for entrepreneurs
- Accommodation will be *covered by DraperU
- The details of the location / accommodation: Check HERE
- Company building AMAs & workshops
- 1:1 mentoring with industry experts
- Demo day with Draper VCs and other VCs in Silicon Valley
Program Timeline (2025)
- Deadline to apply: March 15th (Sat)
- Selection day: March 24th - 25th
- Top 30 Selected, invited to the Screening Committee by March 23rd
- Final offers / Final result announcement: March 26th - 28th
- Some waitlisted startups might be moving forward at some point. Please wait for a final result till Feb 28. (This could be extended depending on the situation.)
- Program kickoff: April 14th
- Program Demo Day: May 19th
- Program ends: May 20th
- Check-out: May 20th evening - by 21st noon (Wed - Thur)
*Upon completion of this program, there is a chance to receive investment if you successfully meet the milestones in the program and our criteria.
Ready to apply? Book a call with our Web3 Program Manager or apply directly below!
Applications are due by the end of March 15th, 2025 in PT. (The deadline extended!)
FAQ
- About Grant (Equity free)
- *You will receive this grant in 42,000 ADA (Cardano currency), so the value to USD may change depending on ADA prices. (1 ADA = 0.3 - 1.2 USD in the last 6 months)
- This grant is for you to cover expenses including meals and travel to join us in Silicon Valley. The payment will be split into two equal payments and dispersed at the beginning of the program and at the end of the program. The terms and conditions will be communicated in a participant agreement with selected startups.
- Our Accommodations / Facility
- The cost of accommodation is all covered by Draper University. This includes the accessibility to a gym, game room, two co-working spaces (24/7 open), wifi, shared kitchen with a walk-in fridge and freezer, private bathroom and shower per room, linens & towels, pool, barbecue patio and any coverage of cost for utilities. There is no additional cost for participants to use all the facilities listed here.*
- In the shared kitchen, we provide coffee and water for free. You can also use plates, pots & pans that you can use to cook your own meals.
- Our location is the center of everything. There are several grocery stores you can reach by a few minutes walking distance with plenty of restaurants and cafe options without spending additional costs for transportation.
- What Kind of Expenses Should We Be Aware of?
- *Expenses for everyday meals are mainly not covered by us, except certain group meals as a part of some sessions or occasional events for socializing purposes within the cohorts.
- The expenses for flights to come to the US are not covered by us, so each company should allocate the budget for flights on their own.
- The laundry room is available to use. The cost is $1.5 per usage.
- Medical insurance is not included. Highly recommended to have one for each.
- You will be in charge of their transportation costs like train, bus, Uber/Lyft. The train and bus usually cost $2-12 one way.
- How Are We Expected to Spend the Grant?
- As it will be given in the form of an equity grant, you will be expected to only spend what is necessary for your stay (airfare, food, medical expenses, etc), and that the rest should be spent to kickstart your business. The costs of flights, everyday meals, and other expenses like medical insurance, are not provided by Draper University. Those living expenses for the duration of the program are expected to be covered by the 42,000 ADA.