Le Crypto Fellowship: A New Program for the Next Generation of Crypto Entrepreneurs
In a bid to discover and support the next generation of crypto entrepreneurs, Frst and Fabric Ventures are teaming up to launch Le Crypto Fellowship, a program designed to identify and nurture talented individuals who want to create innovative projects in the crypto space.
The Problem with Current Entrepreneurship Ecosystem
According to Pierre Entremont from Frst, there are many opportunities for building successful crypto startups, but few entrepreneurs are actively exploring this space. As he notes in a Medium post:
"Nearly all crypto developers and entrepreneurs are already rich and therefore don’t step up their ambition."
This observation highlights the paradox of the current entrepreneurship ecosystem: while there is a vast amount of knowledge available online, including open-source blockchain development tools and free learning resources, many potential entrepreneurs are deterred by financial constraints.
The Solution: Le Crypto Fellowship
To address this issue, Frst and Fabric Ventures have created Le Crypto Fellowship, a program aimed at providing a supportive environment for the next generation of crypto entrepreneurs. By offering a stipend of €100,000 in exchange for 7% equity, participants will be able to focus on developing their ideas without financial pressure.
How Le Crypto Fellowship Works
The program has several key features:
- Financial Support: Participants receive €100,000, which should cover one year of salary for one person in France (€50,000) plus employer contributions and expenses.
- Networking Opportunities: Fellows join a Discord channel with other participants and attend weekly Zoom meetings during the first few months. Later on, Fabric Ventures and Frst partners schedule regular office hours to check on progress.
- Investment Potential: If the project takes off, Le Crypto Fellowship may invest an additional €700,000 for 20% equity in the company.
Key Requirements and Application Process
To be eligible for Le Crypto Fellowship, candidates must:
- Not already have a well-developed idea or team
- Be available to work full-time on their project
Applicants can submit their applications until June 15. Teams of two or three are welcome to apply, with corresponding stipend increases (€200,000 or €300,000).
Comparison with Other Entrepreneurship Programs
Le Crypto Fellowship is not the first startup mentoring program, but it has a distinct focus on crypto entrepreneurship and does not limit itself to college dropouts. The Thiel Fellowship, for example, is a well-known program that provides support for young entrepreneurs, but Le Crypto Fellowship has a more specific target audience.
Potential Impact and Future Development
The success of Le Crypto Fellowship will depend on the quality of applicants and the guidance provided by Frst and Fabric Ventures. If the program achieves its goals, it may lead to the creation of new startups and contribute to the growth of the crypto ecosystem in France and beyond.
In conclusion, Le Crypto Fellowship offers a unique opportunity for talented individuals to develop their ideas in the crypto space without financial constraints. By providing a supportive environment and networking opportunities, Frst and Fabric Ventures aim to create the next generation of crypto entrepreneurs.