Empowering diversity and innovation globally: preliminary insights from over 500 founder applications for the BFG Superstars and Adrenaline program season 4

Blockchain Founders Group
4 min readAug 31, 2023

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by Albert Sugiharto

We are happy to report that we have received more than 500 founder applications from individuals with diverse backgrounds and skill sets to join our incubator and accelerator programs. In this article, we want to share some preliminary insights and observations.

We have wrapped up the application phase for the BFG Superstars Program Season 4 and are thrilled with the global response we have received. It is amazing to see the interest from around the world in our remote-first approach, even though our roots are in Europe. This time, our program has garnered attention from a diverse range of regions. Our applicants hail from 70 different countries spread across all five continents. This round, our pool of founders is even more diverse, with applicants joining us from places like Central Asia, the Middle East, and the Pacific Islands.

Compared to previous cohorts, we have noticed a notable shift in our applicant base. Instead of the usual majority coming from the European DACH region, this time we have applications from a wider array of countries, including Eastern and Southern Europe, as well as the Nordic countries. In Africa, while most applicants still come from Nigeria and Kenya, we are excited to see an increase in the number of applicants from other countries like Tanzania, Ghana, Uganda, Botswana, Cameroon and Zimbabwe. This points to the growing adoption of web3 technologies in the region.

The Asian continent has also shown significant growth in applications, including from Central Asia (Kazakshtan, Kyrgyzstan and Tajikistan) and the Australia & Pacific Island region (New Zealand and Tonga). We are excited to welcome this incredibly diverse group of founders, as we place a high value on diversity in our cohort to bring in fresh perspectives and various potential for innovative collaborations.

Figure 1: The various regions our founder applicants are coming from.

Similar to past cohorts, the majority of applicants are keen on taking up the role of CEO (78.8%), followed by CTOs (11.7%), and Business Developers or Analysts (9.5%). We are also interested in the leadership experience of our applicants, with the median experience being 5 years. Strong leadership experience brings valuable insights, particularly for navigating the complexities of the web3 space. Additionally, we noted a growing need for technical experts to drive business development. This represents a fantastic opportunity for web2 developers to expand their skill set and dive into the world of web3.

We are also pleased to share that the percentage of female founders applying has been steadily increasing (17.4%). This rise reflects the growing awareness of the web3 landscape and the success of various initiatives aimed at enhancing women’s participation and representation in the blockchain and cryptocurrency industry. At BFG, we actively encourage talented and innovative female builders to join the web3 space and embark on their entrepreneurial journey.

During the selection process, we have invited 120 out of the 500+ applicants to the interview stage. From there, we chose 60 finalists who will join our incubation program, starting in early September. Following the success of previous seasons, we are eagerly anticipating the emergence of the next generation of web3 startup founders who will bring forth exciting and innovative businesses.

While the application phase for the incubator program has come to a close, we are still open to applications for our accelerator program — BFG Adrenaline. This program is designed for founders who are looking to turbocharge their web3 startups through an intensive 6-week program. Set to commence in mid-October, the program will offer selected startup teams mentorship, access to our extensive network, and financial support. It is worth noting that the entire program is conducted remotely. By the end of the 6 weeks, participating startups will be fully prepared for the funding round, where they can pitch their ideas to BFG and secure financial support of up to €100,000. Applications are being accepted until September 30, 2023. If you are interested, you can apply directly here.

About Blockchain Founders Group

Blockchain Founders Group (BFG) is the driving force behind web3 innovation. As a company builder, we bring together a team of blockchain visionaries, experienced entrepreneurs, and industry experts, all committed to nurturing emerging talent. Our BFG acceleration programs serve as your springboard for launching blockchain startups, transforming concepts into reality in just 2–3 months. Each cohort develops 5–8 unique web3 ideas, and selected projects will be financially supported with 70,000–100,000 EUR, along with access to our extensive network. Join us in shaping the future of web3!

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Contact: Max Zheng, Director of Investments, max.zheng@blockchain-founders.io

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Blockchain Founders Group

Blockchain Founders Group is a company builder specializing in building early-stage web3 startups through a comprehensive incubation and acceleration program.