Venture capital firm Future Money Group has partnered with the IoTeX Foundation to jointly launch a $5 million DePIN accelerator program

ChainCatcher news, venture capital firm Future Money Group and the IoTeX Foundation have jointly launched a $5 million DePIN (Decentralized Physical Infrastructure Network) accelerator program aimed at nurturing innovative Web3 startups in the fields of DePIN, artificial intelligence, and unlocking real-world value.

Each selected project will receive an initial investment of $50,000, with the potential for additional funding. The virtual accelerator program will accept applications from December 24, 2023, to January 14, 2024, with the first demo day scheduled for the end of February 2024.

Over a 6-week period, Future Money Group and the IoTeX Foundation will lead an intensive program providing networking opportunities, resources, and mentorship support, with key focus areas including the flywheel mechanism of DePIN, token economics, effective pitching and fundraising strategies, technical workshops, modular development tools, marketing strategies, liquidity enhancement, and community engagement.