Insights from 300+ team applications for the BFG accelerator programs season 5

3 min read
April 8, 2024


We are thrilled to report that we have received more than 300 founder team applications with diverse backgrounds and skill sets to join our accelerator programs. In this article, we want to share our insights and observations. - Author: Jona Hauch

We are delighted to announce the closing of the application phase for the fifth season of the BFG accelerator programs and are thrilled with the overwhelming global response we have received. It is truly inspiring to see such a broad interest in our remote-first approach that goes beyond our European origins. This season we have attracted the attention of a wide range of regions, with applicants from 67 countries from all continents.

While we have reached a wide range of countries, 50% of the applications come from 7 countries: Nigeria, Germany, USA, UK, India, France, and Italy.

In Africa, Nigeria stands out as the primary source of applicants, closely followed by Kenya and South Africa. Across the Asian Continent, India takes the lead, trailed by Singapore and Hong Kong. In Europe, Germany and the United Kingdom emerge as the top sources of applicants, followed by France, Italy, and Spain. Turning to the Americas, the USA leads in the number of applicants, followed by Brazil, Argentina, and Peru.

We are delighted to welcome this incredibly diverse group of founders as we value diversity in our cohort to bring in new perspectives and diverse potential for innovative collaborations.


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

While we would like to see this number increase even further, we were pleased to see that 12.9% of applicants were female founders. 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 invited 71 of the more than 300 applicants to an interview. From these, we selected 20 finalists who will take part in our accelerator programs from mid-April. 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.

Season 5 stands out compared to our previous seasons in that we have strong technological partners on our side:

Algorand: A layer 1 blockchain that focuses on carbon neutrality, scalability and decentralization thanks to its Pure Proof-of-Stake consensus.

Concordium: A science-backed layer 1 blockchain with a vision to create a safer, sustainable digital world for everyone.

Program participants have the added benefit of access to ecosystem funding decision makers, additional technical assistance and joint marketing opportunities when funded.



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 accelerates about 20 web3 startups, and selected projects will be financially supported with up to 120,000 EUR, along with access to our extensive network consisting of our portfolio companies' founders, advisors, and investors. Join us in shaping the future of web3!

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Contact: Max Zheng, Director of Investments,

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