“Terra’s Global Founder Fellowship program” are supporting the formation of decentralized economy. This in turn is expected to help expand the Terra Ecosystem. Efficient movement of capital is important for any kind of collaboration.
The fellowship program provides the infrastructure for efficient movement of capital and a lot of other stuff.
Fellowship in this context means financial support.
The Fellowship works with top-tier early-stage VC firms, accelerator programs and tech unicorn companies to identify “project founders” to further collaborate and provide resources which are required to “build apps on the Terra Blockchain” to further help expand the Terra Ecosystem.
Early-stage capital is very important for the development of a startup company’s products and services. These funds can also be used for initial marketing and manufacturing of products and services.
Accelerator programs are meant to provide for intensive and time-limited business support for cohorts of startups and the focus is to get the business ready for investment more quickly than traditional incubators.
Unicorn is a term given only to ‘startups’ who have a valuation of over a billion.
The Fellowship targets candidates who have a passion for building the foundations of decentralized economy using novel idea and makes use of “UST” or the “Terra Blockchain.” Thus, providing for a suite of specialized programs for Terra builders to succeed.
The Benefits of this program consists of scholarships, access to hacker houses, workspaces as well as investment and guidance from successful builders and developers within the Terra Ecosystem.
Details of some of the fellowships are already live. More of such specialized programs for builders and founders who are willing to launch their projects on Terra are on their way.
Thus, the most important criteria to qualify for this fellowship is:
Terra is also going to come up with ideas for what you can build on Terra, generated by the Terra Community.
Fellows will be getting: 1. Idea Brainstorming 2. Technical support. 3. Mentorship 4. Grant incentive.
In the “Ideas Brainstorming” process, fellows enrolling for fellowships will gain access to “Terraform Labs team” and “Terra Ecosystem projects” which in turn will provide the fellows with an understanding of the market opportunities and potential ideas which they can use to work on Terra.
Mentorship is very important because experts will provide a clear insight of identifying the product which is “market-fit” help with token design and launch an MVP and follow the best practices in web3. Mentors are experts from Terra Community Members, Terraform Labs, or Terra Ecosystem Project.
During the Mainnet launch, grants will be offered in UST to provide for smart contract audits. Also, additional grants will be provided on achieving certain milestones in 3 months.
Fellows will be able to meet other aspiring Web3 founders and a community of high-caliber builders on Terra.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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