Polygon Labs launches Village 2.0, offering web3 startup funding and strategic guidance.

Polygon Labs announced yesterday the launch of Village Startup Support as part of its Polygon Village 2.0 initiative, aimed at fostering the development of Web3 startups. The program offers funding support of over 110 million $MATIC tokens, support for yet-to-be-realized entrepreneurial ideas, and one-on-one operational strategy guidance.

Polygon Village 2.0 Launch

With the deployment of the Polygon 2.0 token POL contract on Ethereum completed, Polygon Labs has launched the Polygon Village 2.0 program, aiming to provide comprehensive and customized resource support to Web3 startups to meet their needs at different stages of development and drive industry growth:

Starting a new startup is difficult, even more so in web3, and this is where Polygon Village 2.0 comes in.

Reportedly, the program mainly consists of the following three parts of services.

Grant Applications

Firstly, the funding program Village Grants establishes a grant fund of up to 110 million $MATIC tokens, where projects focusing on infrastructure building, DeFi, social, or gaming applications, among other areas, can apply for grants.

It is understood that the program has various avenues:

• Grants directly provided by the Polygon Foundation, mainly targeting developed later-stage projects with each project eligible for up to 2 million $MATIC tokens.
• Quadratic Funding for second-round funding projects: Mainly targeting early-stage projects, there are currently two grant programs available for application, each with its own requirements and evaluation criteria.

Startup Ideas Support

Teams without startup ideas can seek assistance from the idea construction grant program Village Build Ideas, which collects visionary plans designed meticulously by Polygon ecosystem participants, venture capitalists, and various experts.

It is reported that the program covers various areas such as DeFi, NFT, account abstraction, and e-commerce, offering a wide array of options.

Polygon Labs emphasizes that teams selecting projects from the pre-prepared idea directory in the image above as their development targets will receive one-on-one expert strategic guidance and phased grants of 100,000 $MATIC to help them realize their projects.

However, if teams have their own ideas and plans, Polygon Labs also provides a proposal channel where they can apply for the grant once approved.

Customized Comprehensive Support

Lastly, in addition to funding support, Polygon Village also offers tailored comprehensive support programs through Village Startup Support. Teams can seek one-on-one operational strategy guidance, collaboration opportunities with renowned venture capitalists, participation in startup courses by Polygon ecosystem professionals, etc., based on their needs, as detailed below:

• Personalized Guidance: Communicate one-on-one with experts to address specific team needs, providing practical guidance and advice.
• Engage with Polygon Labs: Special meetings with Polygon Labs or Polygon Village team members to ask questions, receive immediate feedback, and promote deep collaboration within the ecosystem.
• Meet with Venture Capitalists: Opportunities to meet with renowned venture capitalists for financing advice.
• Startup Courses: Offer Web3 startup courses by Polygon ecosystem professionals, teaching key steps for new startup enterprises to consider at the outset.
• Startup Network: Opportunities to participate in Village Builder House events and access shared workspaces worldwide, connecting Builder networks globally.

Furthermore, founders can apply for vouchers through the website to receive substantial discounts on various services and benefits provided by the Polygon ecosystem or other major companies like Google Cloud or AWS.

Support for services such as security and smart contract audits, storage and computing solutions; infrastructure like oracles; tools related to DeFi, NFTs, DAOs, etc., can easily be obtained.

Polygon Village stated in the press release:

Polygon Village collaborates with startups at all stages to provide hands-on support to founders and teams throughout their lifecycle. Therefore, whether just starting out or already established in the ecosystem, we can provide any resources they need for development.