Blockchain Startups Excluded? NVIDIA Rejects Cryptocurrency Companies from Inception Accelerator Program
NVIDIA Adjusts Participation Criteria for Inception Program, Excludes Cryptocurrency-Related Companies
NVIDIA has recently revised the eligibility criteria for its startup accelerator program, the Inception Program, explicitly listing “cryptocurrency-related companies” as one of the five categories deemed ineligible. Speculation arises regarding whether this is related to the U.S.-China tech war, tightening resources to focus more on AI chip development plans.
Not Just Crypto, Five Types of Companies Are Excluded
According to NVIDIA’s official website, the following five types of companies will be excluded from the accelerator program:
- Crypto startups
- Consulting firms and outsourced developers
- Cloud service providers
- Distributors and agents
- Publicly listed companies
Even if they meet the funding stage or startup age criteria, companies are unable to join this mentoring program designed for “startups established within the last ten years.”
A Significant Shift Since Accepting Blockchain Startups in 2018
NVIDIA previously accepted Ubex, a blockchain startup integrating AI technology, into the Inception Program in 2018. However, the company’s recent distancing from Web3 businesses raises questions about whether NVIDIA is marginalizing the cryptocurrency industry.
This is an illustration of the collaboration between NVIDIA and Ubex in 2018.
Currently, NVIDIA has not responded to inquiries, stating only that it “does not comment.”
Why the NVIDIA Accelerator Is Important and What Blockchain Startups Are Missing
The Inception Program serves as a global support network designed for startups, offering participants:
- Technical support (GPU, SDK)
- Marketing and event opportunities
- Connections with NVIDIA’s industry partners
Therefore, for blockchain businesses relying on high-performance computing, especially startups pushing AI-integrated cryptocurrency concepts, gaining access to Inception is a crucial key factor.
Significant Background Pressure: Crypto Miners Have Hurt NVIDIA
NVIDIA and the cryptocurrency industry share a history of “love and hate.” In the past, crypto miners purchased NVIDIA graphics cards in large quantities for mining purposes, driving up the price of GPUs and leading NVIDIA to become embroiled in a “stockpiling and price-gouging” controversy. To delineate the market, NVIDIA later launched versions with “restricted mining capabilities” to distance itself from the crypto market. The formal exclusion of blockchain startups may also be related to past experiences and market image considerations.
This image shows the Lite Hash Rate (LHR) version of graphics cards limited for cryptocurrency mining.
AI and Geopolitics: NVIDIA Navigates Between U.S. and China
On another front, NVIDIA’s core battlefield in recent years has shifted towards AI chips, positioning itself as a key player in the U.S.-China tech war:
- In 2024, NVIDIA plans to launch the H20 chip for the Chinese market, attempting to comply with the Biden administration’s export restrictions on advanced AI chips.
- However, the H20 is still regarded as having “substitutive functions,” prompting the Trump administration to impose further export controls requiring special permits.
According to reports, the Chinese market accounted for approximately 13% of NVIDIA’s revenue in 2024. Additionally, due to Trump’s export restrictions on the H20, NVIDIA reported a staggering $5.5 billion loss in its quarterly earnings. Nonetheless, Jensen Huang has been actively meeting with senior Chinese government officials and Japan’s Prime Minister Fumio Kishida this month, attempting to break the deadlock.
NVIDIA Fully Invests in AI Development, Excludes Blockchain from Core Business
Although blockchain and cryptocurrencies remain hot topics in the tech industry, NVIDIA seems to no longer view them as a primary target for its accelerator. Faced with the intensifying global AI arms race and escalating U.S.-China tensions, the decision to exclude blockchain may simply be a strategy to focus more on its core battlefield.
(Jensen Huang visits Fumio Kishida! Japan reveals a $44 billion AI energy plan, moving away from the shadows of nuclear disaster.)
Risk Warning
Investing in cryptocurrencies carries a high level of risk, with prices potentially experiencing significant volatility, and you may lose your entire principal. Please assess the risks carefully.
