Expanding support for Web3 start-ups
Google Cloud, the cloud division of Google, a major US IT company, announced on the 26th that it has expanded its support program for Web3 startups.
Added special benefits for Web3 to the existing “Google for Startups Cloud Program”. The aim of the support is to allow Web3 companies to focus on their core business, such as marketization and innovation.
What is Web3
Also known as the “Next Generation Internet,” it refers to a decentralized network based on blockchain. Specifically, it includes NFTs (non-fungible tokens) and crypto assets (virtual currencies).
The early Internet, in which the flow of information was one-way, is called “Web1,” and the centralized Internet, which Google and others provide services, is called “Web2.”
Target companies for support are startups up to Series A in funding rounds. Companies that meet all the qualifications can apply for the new support program from the 26th.
Web3-specific perks include technical, community, and resource-related assistance. Funding will be provided by multiple projects including Solana (SOL), Polygon (MATIC) and NEAR Protocol (NEAR).
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For example, companies selected for support can be prioritized for review by the Polygon Ventures Ecosystem Fund, which totals about 400 million yen ($3 million).
In addition, U.S. virtual currency exchange Coinbase, blockchain analysis company Nansen, and Web3 development platform Alchemy will also cooperate in supporting companies.
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In the cloud division, competitor Amazon Web Services (AWS) is also expanding its business in the Web3 area. Google Cloud said it will continue to support founders and developers in the Web3 space.
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Existing support program
There is also a Japanese web page for the “Google for Startups Cloud Program” that has been going on for a long time. Among them, the benefits for Web3 companies are now added, but this notation is in English.
According to the official website, the existing support program has the following benefits:
- For two years, up to approximately 13.3 million yen ($100,000) in credits will be granted each year, which can be applied to cloud costs.
- Technical training and hands-on labs available
- Engage with dedicated startup experts, the startup community, and take advantage of other discounts Google offers
Eligibility requirements for support are categorized according to whether they have already received funding. As mentioned above, companies that have received funding are eligible for up to Series A, but it is also listed as a condition that it is within 12 months of funding. In addition, the company said that it will be an application condition for companies that have received funding to be “within 10 years of establishment” and “have not received more than $4,000 in credits.”