Bitcoin startup accelerator Boost VC has recently announced its new fund. Entitled “Boost Bitcoin Fund 2,” the organization will award 300 BTC to every company in its upcoming “Tribe 5” batch that completes its upcoming incubator program.
Boost VC states on its website:
“Boost VC is the Bitcoin accelerator. We invest in 20-30 companies twice a year for three months. We provide housing and office space for each company located in the heart of Silicon Valley. We put talent, passion and drive alongside season entrepreneurs and investors to build world changing companies.”
The fund is a continuation of a program that Boost VC began with its Boost Tribe 2, in which $50,000 was provided to each graduating association. Companies enrolled in the class trade equity for office space and living quarters, and are generally rewarded with additional funds upon graduation.
CEO Adam Draper, son of venture capitalist Tim Draper (who recently made news through his purchase of an additional 2,000 BTC at the 2nd Silk Road auction) heads the class. In a recent interview, Draper expressed that Boost VC serves as the “go-to” for bitcoin startups, and that:
“There are 700 bitcoin companies out there now and more ideas in this space than anyone knows.”
Additionally, the company has also recently closed a $6.6 million funding round, which will be used to fund another 200 startups through 2017. All startups interested in joining the Tribe 5 batch have until January 2nd to apply. The program begins the following month in February.