WalmartIncubation arm Store N8 and Outlier Ventures, a global Web3 accelerator, announced the first cohort for its accelerator program aimed at supporting startups that focus on building decentralized solutions to improve the global retail and commerce experience.
The Store N8 dCommerce Base Camp acceleration program received hundreds of applications, and five startups were selected to participate in the remote 12-week acceleration program, the organizations said in a press release on Tuesday (October 24).
According to the release, each of the five startups specializes in different areas, including payment experiences, improving data collection and analytics capabilities, and native Web3 methods for building and maintaining a user base.
One of the selected startups, HypeLab, focuses on simplifying advertising in the Web3 space. It offers a Web3 advertising network that helps companies grow their user base and monetize their platforms.
Discover provides a programmable payment infrastructure for the collaborative economy, enabling seamless transactions between parties.
Tidal protocol offers a next-generation Web3 marketing suite designed to enable companies to acquire and retain customers through online campaigns and advanced analytics.
Tokenguard aims to spur Web3 growth by providing Web3 developers with on-chain visibility, enabling them to track, analyze and understand their users.
Unlockthe fifth selected startup, enables business payments in the Web3 economy via application programming interface (API) infrastructure.
According to the announcement, the teams will receive support from internal experts from Outlier Ventures and Store N8. Support will include product roadmap, community building, token management and launches, fundraising and presentations.
They will also receive tailored guidance from venture partner Synergis Capital and entrepreneurship advisor KPMG US, who will provide them with hands-on mentorship to prepare them for commercial success, the release said. Each of the five startups will also receive a $200,000 investment from Synergis Capital.
Store N8 was launched in 2017 and created by Marc Lore, who joined Walmart in 2016 when the retailer bought his startup Jet.com. It aims to establish relationships with emerging technology entrepreneurs.
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