Best of Both Worlds; Accelerators and Informal Networks ✌️
Here’s Why We’re Joining Plug and Play and Cumulus Park
Startups and scaleups, especially in an industry as young as blockchain, won’t succeed on their own. Instead, supportive networks are one of the keys to collaborating on challenges and fostering growth. Collaboration is really the keyword here.
But what are innovation communities exactly? In simple terms, they provide you with contacts (in-person or online) from diverse backgrounds, including companies, startups, researchers, and governments.
Isn’t being part of a community a lot of work?
Should startups really bother connecting to all these spheres?
Does the mere availability of resources really result in worthwhile benefits?
So many questions! And the answer to all of them is YES.
Startups are more successful when they have access to support networks of mentors, startups, and leaders. That’s because networks are not a one-way street. The energy you put in will pay off. Research done by the Harvard Business Review found that accelerators have a positive effect on the performance of the startups, even compared to other early-stage investors. Next to this they also improve the chances of attracting seed financing.
Exploring a slightly different take; The Economist concludes that informal entrepreneur communities are even more instrumental to start-up success than formal networks, such as accelerators, across several world cities that are known for their nurturing of innovation. That’s quite a find!
Innovation communities in Amsterdam 💡
We’re THX, an Amsterdam-based startup that enables online communities to set up gamified payments from pooled funds. We recently conducted an analysis of the Dutch and German blockchain ecosystems and found that:
Collaborative mindsets make the Dutch and German blockchain ecosystems unique.
In this article, we’re zooming on two communities that have recently partnered up in Amsterdam to take startups to the next level: Cumulus, a local informal community, and Plug and Play, a global VC and accelerator. And, of course, THX is proud to have joined both of these communities and we’re looking forward to both providing and accepting community support!
We covered why it’s exciting for THX to join these innovation communities that offer invaluable support. Now, let’s explore these two networks in more detail.
Plug And Play Tech Center 🔌
Plug And Play is a Silicon Valley Innovation Platform that wants to make innovation open to anyone, anywhere by offering business development accelerator programs, supercharging corporate innovation, and investing in startups.
They have over 5 locations around the world, ranging from Silicon Valley to Tokyo, and are active in more than 18 industries. … Plug And Play collaborates with Cumulus Park by running the Fintech and Smart Cities accelerators from the Cumulus Park location.
The 6-month Booster Program.
Although Plug And Play is infamous for its innovative programs for corporates, this new program supports early-age seed startups to grow and solve challenges.
A startup is ‘boosted’ when its unique goals and needs are being met. That’s why the booster program is flexible and custom made to tailor to the unique needs of the selected startups.
The Booster Program allows startups to focus on the most important parts of their business like product-market fit and growth. The program offers these benefits to selected startups:
- Basic amenities for free (office space, for example)
- A vibrant and knowledgeable community
- A global network
- Exposure through events
“Startups are able to do what they do best in the right setting and with the right mindset. This Booster Program offers startups an ambitious community and dynamic environment, creating that valuable atmosphere.
Plug And Play’s mission with this program is to support startups from the ground up with no financial requirement and provide them access to valuable experts in our global network …” — Poey Lam, Program Manager at Plug and Play Tech Center.
The community of experts, professors, mentors, corporations, investors, and VCs is an invaluable resource for growing companies. You can lean on others for support, ask questions to solve challenges, and connect with the right people for funding opportunities. It’s a match made in heaven.
Plug And Play also offer a step into the global market, helping to transcend the borders as a startup. A global audience isn’t only something for large, corporate companies. Startups just need a little more support for global expansion — and they can get it here.
In the near future — let’s say one or two years — Plug And Play envision many more startups joining the Booster Program. We look forward to the development of peer-to-peer sessions, which will add even more value to the program. Plus, early participants like THX could become mentors to newer startups. Exciting stuff!
Cumulus Park 🏙️
Cumulus Park is a local community in Amsterdam that offers a network, inspiration, and physical spaces for students, researchers, entrepreneurs, and innovative initiatives from diverse backgrounds. It also offers knowledge programs and events.
Plug And Play collaborates with Cumulus Park by running the Fintech and Smart City accelerators from the Cumulus Park location. The cool part is that Cumulus Park is centered around themes of innovation to streamline coordination, events, and ideas.
THX specifically will be gaining (and contributing) invaluable insight from the Digital Identity’ theme within Cumulus, which focuses on how digital technology impacts our personal lives. This relates heavily to our work in measuring and displaying online reputation in digital communities.
The best of both worlds; a global accelerator and a local network 🆙🆙🆙
The benefits that both informal and formal communities bring to any startup — including THX — are undeniable. We’re incredibly excited to be part of;
- A global accelerator provided by the Plug And Play that offers support, mentoring, and access to potential investors, and launching partners all taking THX to the next level.
- A local network through Cumulus Park. This includes physical offices, talks with similar startups, discussion with stakeholders that function in the Dutch ecosystems that can help with local regulations, etc.
However, joining the communities alone is insufficient for success.
It’s up to the startup team to take the initiative, join events, and activate the network that they joined. We’ve prepared for our new memberships by setting achievable goals and remaining realistic about expectations.
Follow us on Twitter (@THXProtocol) to stay tuned for updates. Or sign up for our demo below!
Let’s meet in our communities
Discord 👾
X 🦤
Telegram ✈️
YouTube 📺
Get the $THX token
Balancer (Polygon) ⚖️
1Inch (Polygon) 🐉
Other resources
Developer and campaign manager docs 📋
Code on Github 🛠️
Audit report 🕵️
