Stacks Launches $4M Accelerator to Fund Tech Teams Building Apps on Bitcoin

The program will invest in early stage startups building within the Stacks ecosystem.

AccessTimeIconApr 13, 2021 at 5:05 p.m. UTC
Updated Sep 14, 2021 at 12:40 p.m. UTC

The Stacks Foundation is shepherding a $4 million accelerator program to invest in early stage teams building on the network formerly known as Blockstack.

The three-month program will invest up to $50,000 in anywhere from 10 to 20 startups per class, Stacks Accelerator Managing Partner Trevor Owens said in an interview. The accelerator takes a small equity cut in each team with 80% of any profits going back into the accelerator to fund future cohorts, Owens said.

Stacks is looking to position itself as the home for smart contracts and decentralized apps secured by the Bitcoin blockchain. The still-nascent developer scene on Stacks is far smaller than that on smart-contract heavyweight Ethereum and even nimble upstarts such as Binance Smart Chain, according to public data.

The accelerator and other efforts within the Stacks ecosystem aim to change that, but with a particular focus.

"This focus on innovating and scaling and extending the functionality of Bitcoin. That's one definite distinguishing factor," Jenny Mith, who runs the grant program at the Stacks Foundation, said in an interview. "I think the other thing is just the focus on building user-owned businesses."

On the accelerator side, Stacks has tapped a number of prominent advisers for cohort startups to consult with. At launch, CoinShares CSO Meltem Demirors and "The Lean Startup" author Eric Ries are listed as mentors; investor Anthony Pompliano, Chainlink co-founder Sergey Nazarov and others are involved in a more limited capacity.

"Our goal is to create a community around the creation of successful companies built on the Stacks blockchain," said Owens.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.