Algorand Foundation launches accelerator for European startups

The Algorand Foundation announced the launch in London of a programme to support projects aimed at developing the Algorand blockchain platform ecosystem. Participants can expect funding of up to $500,000.

In partnership with @borderless_cap & @eternacapital we are pleased to announce the launch of Algorand Europe Accelerator! The program will encourage & facilitate #blockchain innovation & development! Building better with #Algorand! Applications are open https://t.co/I9vz7t1ggI

— Algorand Foundation (@AlgoFoundation) October 15, 2020

The Algorand Europe Accelerator is a joint initiative by the Foundation and venture firms Eterna Capital and Borderless Capital.

“The programme aims to encourage and stimulate the development of blockchain, in particular, the synergy with Finance 3.0 and beyond, expanding opportunities for projects to create and develop financial innovations in the Algorand ecosystem,” according to the statement.

Applications will be accepted until 18 December 2020. Selected participants will receive initial funding of $15,000 from Borderless Capital. Developers of successful projects will be eligible for subsequent investments of up to $500,000, with Eterna Capital participating.

During the 12-week programme, participants will receive support at all stages of strategy development and go-to-market, as well as hands-on guidance within the scope of technical mentorship, tokenomics, marketing, and fundraising.

As mentors in the programme will participate Props co-founder Adi Saidman, Securitize CEO Carlos Domingo, CoinList Managing Partner Adrian Uberto, Amazon Web Services Business Development Tim Boekmann, Generali’s Venture Director Pasquale Tuosto and Youbi Capital CEO Chen Li.

The Algorand Foundation noted that the accelerator is built on the basis of the Eterna Borderless Venture Studio initiative, launched in April 2020.

Earlier, the Algorand Foundation announced the allocation of 250 million ALGO tokens to a multi-year grants programme for developers of applications, tools and blockchain infrastructure.

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