Polygon Co-Founder Sandeep Nailwal Launches Web3 Fellowship, Commits to $500K Annual Investment

• ByStartupStory     |    May 16, 2023

Polygon co-founder Sandeep Nailwal has announced that he will invest $500,000 of his personal funds into ten different Web3 projects as part of the Nailwal Fellowship program. The initiative aims to support talented individuals in the Web3 space by providing them with funding and resources. The announcement was made in collaboration with Symbolic Capital, a venture capital firm co-founded by Nailwal in 2022.

Each fellow participating in the program will receive a grant of $50,000 along with access to Symbolic Capital’s resources and internal directory. The fellows will have a dedicated period of six months to fully concentrate on developing and experimenting with new ideas in the Web3 space. The program is designed to be inclusive, welcoming founders from diverse backgrounds, irrespective of age or geographical location. However, preference will be given to individuals with technical expertise capable of building tangible products and decentralized applications (dApps) throughout their fellowship.

According to a blog post from Symbolic Capital, the core mission of the Nailwal Fellowship program is to attract highly talented individuals to the Web3 sector by offering them financial stability and necessary resources to pursue innovative and ambitious ideas. The program is designed to provide founders with the necessary support to fully dedicate themselves to building and embracing entrepreneurship in the Web3 space. The program will run one cohort annually, spanning from August to January. The application period is open from May to June, followed by interviews in late June to July, with the selection of ten fellows for each cohort.

Last year, Polygon co-founder Sandeep Nailwal and Cere co-founder Kenzi Wang launched Symbolic Capital, a venture capital fund dedicated to supporting Web3 founders. The fund raised $50 million from investors, including venture firms, crypto exchanges, family offices, and institutions. Symbolic Capital focuses on supporting companies that develop consumer-facing decentralised apps (dApps), which is in line with Polygon’s objective of accelerating Web3 app development

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