US exchange Coinbase is teaming up with Founders Factory, Animoca Brands and Fabric Ventures to launch a new 16-week accelerator for blockchain and AI startups in the UK.
The scheme, backed by the UK government’s Department for Business and Trade, will be unveiled at the Global Fintech Forum on Monday.
Partnership and Program Structure
Coinbase’s UK chief executive, Keith Grose, says the government is keen to push forward crypto regulation and support the sector’s growth.
Founders Factory will mentor eight chosen startups on business planning, product design and fundraising. Animoca Brands, Fabric Ventures and Coinbase will offer web3 expertise, guiding founders on tokenisation and other crypto strategies.
Each successful team will receive a cash investment of two hundred fifty thousand pounds in return for around a 5% share in their firm.
The program wraps up with a demo day where startups pitch their ideas to potential investors. Applications open in June and the first cohort begins in September, according to Founders Factory’s chief operating officer, Damian Routley.
Criteria for Applicants
Routley explains that shortlisted companies must either be preparing a token launch or already have a tokenised business model.
He adds that the focus is on startups creating trustworthy applications with real value that can drive wider adoption for consumers or businesses.
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Reviving the UK’s Crypto Appeal
The new accelerator arrives amid concerns that the UK has lost ground as a crypto hub. Sifted reported that former city minister Tulip Siddiq did not prioritise meetings with crypto firms.
While leading VC firm, Andreessen Horowitz, closed its UK office in January to concentrate on the US market after Donald Trump’s re-election.
Despite this, Jonathan Reynolds, the government’s business and trade secretary, says the accelerator is a strong vote of confidence in the UK’s tech industry and will help keep the country at the forefront of blockchain innovation.
Optimism Despite Challenges
Grose and Routley both express confidence in the UK’s potential. They note the ongoing consultations on crypto regulation by UK financial authorities.
Grose points out that financial services and fintech have always been central to the UK economy and says crypto and blockchain fit naturally into that landscape.
By pooling resources from a leading US exchange, a local venture studio and top crypto investors, this accelerator aims to reignite the UK’s standing in the digital asset space.
As the country finalises its regulatory framework, initiatives like this could persuade startups and investors that Britain remains an attractive place to build the next wave of crypto and AI businesses.
Also Read: Coinbase Legal Chief Questions SEC Crypto Restrictions and Urges Government Reform