Deloitte partners resign to co-found Web3 company Lab Eleven

Deloitte partners Ben Wylie and Yamen Sader have left the big 4 consultancy to co-found a Web3 blockchain investment and engineering business, Lab Eleven.

The former founders of Sixtree, which joined Deloitte Australia in 2016 have launched Lab Eleven to tackle the challenges and opportunities of Web3, and drive early stage projects to market faster.

“We aim to partner and co-invest in a handful of Web3 projects each year and, as a result, grow a stake in Web3 businesses we are proud to have helped build,” said Lab Eleven co-founder, Ben Wylie.

“We’ll be working more with Web3 founders and investors to offer a Solana delivery partner that co-invests to bring innovative Web3 ideas to market. With the crypto world being a little turbulent, anonymous and unpredictable at times we hope we’ll be seen as a safe, proven and invested pair of hands.”

The co-founders acknowledged that it is a risk to move from senior positions at one of Australia’s leading consultancies into the emerging Web3 sector, but have said that they are looking for a new challenge.

“As a developer and as an end user, I was impressed by how far blockchain technology has come,” Lab Eleven co-founder Yamen Sader said.

“With the speed and low cost of modern blockchains, it is possible to create the experience users expect these days. This was a lightbulb moment, and we were only able to see opportunity from there.

Apart from driving a real world impact with Lab Eleven, Yamen said that their focus is also to be leaders in the blockchain community and drive education for “hundreds of blockchain careers”.

Lab Eleven is exclusively developing on the Solana blockchain and the co-founders’ goals for the company is for it to become the world’s “most highly credentialed Solana development shop”.

“Like with other breakthrough technologies, adoption is slow until it’s fast, and when it arrives for Web3 it may be too late to respond,” said Yamen.

“It’s time to start thinking about this potential future now.”

"We’re putting our own effort, heart and soul behind this movement, and we are thrilled to now be apart of accelerating towards a Web3 future,” Wylie added.

Ben Wylie and Yamen Sader, co-founders Lab Eleven