FREQUENTLY ASKED QUESTIONS
How can I make sure my application to the accelerator program is considered?
For your application to be considered, you will need to clearly outline your project idea and team, while providing a high-level business development plan. You also need to build your project on the Algorand blockchain or contribute significantly to the Algorand ecosystem.
We welcome applications from projects that fit the below requirements:
1) Stage: Pre-seed to Seed
2) Team: Minimum of two members (ideally a CEO and a CTO)
3) Business: Sound business case or evidence of product-market fit
What industries are considered for the accelerator program?
While we are focusing on fintech-related projects, we will consider all industries as long as there is a clear business case for building your project on the Algorand blockchain. The scalability, speed and security features of the Algorand blockchain make it very powerful to apply across industries. We have seen several use cases leveraging the Algorand technology: DeFi, NFTs, environmental solutions, insurance, Web 3.0, gaming, and beyond.
What are the terms for the accelerator program?
We do not collect any enrollment fees. The structure of the program is designed to offer optimal support to our projects, and allow them to gain access to a strong network of resources, including mentors, technical partners, in-kind partners and a global investor community. Upon selection, successful applications will receive USD $35,000 in upfront seed funding for 3% or less of equity and token. The investment will be formalized through a SAFTE (Simple Agreement for Future Tokens or Equity) upon invitation to join the accelerator. We will reach out to discuss specific investment terms during the interview stage.
How many projects will you be accepting for each batch?
We aim to take in around 10 projects, depending on the number of suitable applications.
What is the structure of the 12-week accelerator program?
The accelerator program consists of 3 phases. The first phase ("Shape") is to help you prepare your strategy and business model where we will take you through a series of business-related workshops, introduce you to the Algorand platform and to our mentor network. The second phase ("Build") is focused on building your product offering and refining your go-to-market strategy, where we will provide technical advisory, introduce you to potential partners and customers as well as support your marketing and branding. The final phase ("Grow") is to refine your pitch and get ready for fundraising so you are ready for the Demo Day. Throughout the accelerator program, you will be introduced to our community of experts and investors as well as be given maximum exposure opportunity to events that we will organize or participate in.
My project is not based in Europe; can I still apply?
Yes, we welcome and accept applications on a global basis. That being said, Europe is a major epicenter for blockchain activity, and there are many benefits to establishing a presence in this part of the world.
Do I need to stay in London throughout the accelerator program?
No, the acceleration program will be a virtual program allowing you to work remotely.
Will accommodation and office space be provided?
The acceleration program will be a virtual program. We expect participants to arrange for their own office/workspace throughout the accelerator program.
What is the selection process like?
Registration is open until 31st October 2022. Thereafter, the selection process will take around 2 weeks, where each application is screened by the research team. The shortlisted projects will be contacted for an interview during the selection process. Successful applications will then be informed in November 2022, before the start of the accelerator program.