Andreessen Horowitz (a16z) has unveiled a $30 million investment initiative targeted at technology-driven gaming startups. Led by Andrew Chen, a general partner overseeing the Games One Fund at a16z, this initiative focuses on sectors like AI, VR/AR, and Web3 games, among others.
The investment will be distributed over the next 45 days through a16z’s early-stage accelerator program called “SPEEDRUN.”
Each participating startup will receive $750,000. SPEEDRUN is a 12-week program offering not just capital but also access to industry coaches, mentors, and a community of ambitious founders.
Chen emphasized the program’s inclusivity, welcoming startups at various stages of development, from ideation to those with a proven product and revenue. However, admission is competitive, with only 1% of applicants accepted in the last cohort. Nonetheless, 80% of companies from the first cohort secured funding post-Demo Day.
Interested startups must apply by May 19, with the program scheduled to run from July 29 to October 20, 2024, in Los Angeles, California.
Past graduates from a16z’s SPEEDRUN program include Matchday and Promodium, both Web3 games centered around soccer and nonfungible tokens, respectively.
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