Codebase by Avalanche, an accelerator program for early-stage Web3 startups building on Avalanche, has chosen its first cohort after receiving nearly 250 applications from over 30 countries. Additionally, the program has significantly increased funding from its original announcement by partnering with Colony Lab, with the AVAX-specific decentralized VC offering $500k to $1M to each of its 15 cohort members. Projects will also be eligible for the 10-week program’s $400k investment prize pool. 

Currently, in its inaugural season, Codebase by Avalanche is an Avalanche Foundation initiative designed to help develop the next generation of category-defining web3 companies. Colony Lab, an established Avalanche accelerator, has partnered with Codebase to expand cohort funding. 

Codebase’s intensive program — leveraging the mentorship of Web2 and Web3 experts — culminates in a high-stakes IRL pitch day at Consensus on May 29. There, Codebase companies will pitch prominent Web3 investors.

The high-potential, early-stage Avalanche by Codebase projects are: 

1. CCX – Bridge between CBDCs and stablecoins, opening near-instant access to RWAs in 167+ developing countries

2. dripit – Platform reimagining music industry incentives

3. Ash – Appchain-as-a-service platform leveraging Avalanche Subnets

4. The Guild – Platform for freelancers and clients that merges social interactions with vocational activities in a Web3 ecosystem

5. Inertia – Internet community prediction markets

6. Lendr Network – Decentralized RWA tokenization enabling global access to diverse asset classes

7. Mezzanine Labs – Onchain software for incorporating, operating, and governing "Smart Companies" with the power of smart contracts

8. Musing – SocialFi platform for decentralized communities

9. String Technologies – Platform reducing the average construction payment cycle from 80+ days to <1

10. TalentLayer – API connecting the world's marketplaces, unlocking greater liquidity sharing

11. TheBadge – Decentralized oracle for certifications, bringing RWA certificates onchain

12. trppn – Platform bringing people together at music events and parties, while enabling creators to access a new income stream

13. URCHARMS – NFC jewelry providing a portal to a social app, connecting online and offline customer experiences

14. zKnowledgeBase – Decentralized academic journal

The fifteenth and final Codebase company remains in stealth, and will be announced at a later date. The first cohort has already started cooking, beginning with a kickoff event in Lisbon:

During this immersive week of face-to-face onboarding, cohort members, key Ava Labs team members, Avalanche Foundation board members Dr. Ömer Demirel and Vikram Nagrani, and mentors from Web2 and Web3 joined together for roadmap planning, startup education, and deep dives into the nuances of building high-performance apps on Avalanche. Weeks 2 to 9 will bring digital discussions and workshops, providing the training, resources, and collaboration to help cultivate cohort members into extraordinary founders – and preparing them for pitch day. 

Colony Lab’s participation in Codebase will prove vital to the program. Colony’s commitment to funding may surpass $1M per project, thanks to its collaboration with SwissBorg. With 7,500+ Avalanche users potentially available to provide decentralized funding, Colony Lab offers a unique avenue for projects to receive seed funding from thousands of Web3 natives. This can help Codebase (and other) projects spur growth and create a community and user base from the start.

To keep up with Codebase, follow Avalanche on Twitter or sign up for emails. Follow along to learn about cohort companies, including who wins prizes.

For more on how/when to apply and to go deeper on the program, its fantastic mentors, and its course of study, visit the Codebase homepage.

About the Avalanche Foundation

The Avalanche Foundation is a non-profit entity that fosters the advancement and growth of the Avalanche platform for the world. The Foundation offers development programs for developers, entrepreneurs, and users to help turbocharge the advancement of the Avalanche ecosystem.

About Avalanche

Avalanche is an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. The network’s architecture allows for the creation of sovereign, efficient and fully interoperable public and private layer 1 (L1) blockchains which leverage the Avalanche Consensus Mechanism to achieve high throughput and near-instant transaction finality. The ease and speed of launching an L1, and the breadth of architectural customization choices, make Avalanche the perfect environment for a composable multi-chain future.

Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building decentralized applications (dApps). With its combination of speed, flexibility, and scalability, Avalanche is the platform of choice for innovators pushing the boundaries of blockchain technology.

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About Colony Lab‍

Colony Lab: The leading community-driven accelerator within the Avalanche ecosystem, powered by $CLY.

Colony Lab empowers projects through decentralized fundraising and liquidity provision. The inclusive platform offers diverse exposure to the community, providing unprecedented access to Avalanche's remarkable growth. Web3 enthusiasts can join the platform for seed/private sales investment opportunities in early-stage Avalanche projects and enjoy a world of rewards, including airdrops, $AVAX incentives, and a share in platform fees.Website |Twitter |Medium | Youtube |Telegram (Announcements) |Telegram (Discussion)