ChainCatcher news, the Web3 startup accelerator Spring Xcelerator (SpringX.net) is set to officially launch, with the application deadline on October 19. SpringX is jointly initiated by 14 leading project founders and 3 top investment institutions, providing a $20 million funding pool, structured courses, and strong founder networks and resource support for Web3 entrepreneurs in the seed or angel round.The co-initiating investment institutions include: SevenX Ventures, Generative Ventures, Bixin Ventures. The project founders include: Charles (Galxe), Chess (GM Labs & QuestN), Chris (MirrorWorld), Daidai (Dodo), Jack (Aspecta), Mogu (Chainbase), Niels (BuidlerDAO), Tim (d.id), Ryan (CyberConnect), Wendy (Beosin), Xiao (zCloak), Yuanjie (Conflux), Zhixiong (ChainFeeds), Zhouqi (EthStorage).

ChainCatcher news, at the opening forum of Foresight 2023 Hong Kong Summit, Element founder Wang Feng pointed out that the product pain point-driven approach that Web2 entrepreneurs excel at may not be entirely applicable to Web3. Web3 entrepreneurs need to find a unique narrative logic; additionally, Web3 entrepreneurs not only need Web2's products, design, and operations but also need to build a unique economy, shifting from traffic thinking to liquidity thinking by leveraging unique assets and incentive models.He disclosed that Element will launch 20,000 Element Pass Standards (EPS) on April 14, and users can receive benefit packages by holding EPS, which include governance, economic, and product privileges.

ChainCatcher news, Saison Capital, an investment institution under Credit Saison, announced the establishment of a Token Fund aimed at accelerating investments in the Web3 sector amid the current market downturn.It is reported that Saison Capital's portfolio includes NFT infrastructure company Gomu, trading platform Finblox, multi-party computation wallet Krayon, and Web3 gaming company Avium. The institution stated that each investment from the new token fund is expected to range between $200,000 and $500,000, and will focus on "Web3 founders with Web2 industry experience." (source link)

ChainCatcher news, the EOS network is working to reach a validator consensus protocol to launch a $100 million ecosystem fund. This fund will be managed by the independent entity EOS Network Ventures (ENV), aimed at investing in Web3 businesses and entrepreneurs that build innovative solutions based on EOS. It will also be used to launch accelerator and incubation programs to support the large-scale application of the EOS network in more innovative business models. EOS network validators will oversee the independently operated ENV.EOS Network Ventures will make strategic equity and token-based investments in tech startups in the Web3 space, covering sectors including GameFi, metaverse, esports, NFTs, and fintech. This initiative will further establish the EOS network as the ideal blockchain for Web2 companies transitioning to Web3 and as a launch platform for new projects. (Source link)

Chain Catcher News, the Web3 entrepreneurship mentor community yWhales, announced the completion of a $5 million seed round financing at a valuation of $80 million, with funding coming from business innovators, entrepreneurs, and investors, without external investors.It is reported that yWhales is planning an exclusive community composed of CEOs, business leaders, and entrepreneurs from around the world, which will leverage the collective knowledge and experience of the community to help new startups and existing businesses capitalize on Web3 opportunities. (Source link)