London - 28th November 2022 - Algorand Accelerate announced last week that it has launched its accelerator program for blockchain startups with the introduction of ten high-growth startups. Powered by Algorand Foundation and global blockchain funds, Eterna Capital and Borderless Capital, the program will drive long-term adoption and growth of the Algorand ecosystem and accelerate the trajectory of startups creating valuable solutions spanning Sustainability, Gaming, Tokenized Traceability, AI and Decentralised Exchanges and Marketplaces.
The 12-week accelerator program, which started on 21st November 2022 and runs until 17th February 2022 , features the following ten startups:
“Providing mobility data as a service through a community of citizen traffic counters who'll be rewarded for participating. Using AI powered sensors to continuously gather data in real-time. Aiming to make cities smarter and more efficient through the power of data.”
“Delivering the best market prices for traders and developers by aggregating over multiple decentralised exchanges, market makers and lending protocols.”
“Transforming how their clients create social impact through streamlined management of aid, corporate giving and scholarship programs. While closing the funding gap for the leading development world vetted CSOs and NGOs working towards Sustainable Development Goals.”
“Providing tokenized traceability products and blockchain solutions for the supply chain, offering transparency and trust.”
“Empowering developers, NFT creators, journalists and others with world’s first decentralized and immutable on-chain storage system”
Rewind Music Lab
“An eco-friendly peer-to-peer decentralized platform that allows artists to upload and sell their music as NFTs. Innovating the music industry and providing artists with a new channel to share and monetize their music.”
“Building a permissionless, decentralised option protocol for ALGO and Algorand Standard Assets.”
“Increasing the GDP of Web3. Building fun, casual games on Web3"
“Bermuda’s digital asset custodian with scalable insurance. Bringing scalable custody insurance to the Algorand ecosystem.”
“A hub that empowers video creators to better monetize their content. Building an ecosystem where users are actually rewarded for their engagement.”
“We’ve been very impressed with the interest from projects and the quality of the 300 applications received. We are very excited to watch the 10 projects evolve over the course of the next 12 weeks. Each project in this cohort has something innovative and incredible to catalyse Web3 integration in our day-to-day lives.” Nassim Olive, Partner at Eterna Capital, added.
“We're very pleased to present this cohort with Algorand Accelerate, all of them covering various areas of interest in the space to further decentralization and empowerment of the community. We've seen some of these teams build and grow their project from scratch to where they are now, and others we welcome into the Algorand ecosystem eager to kickstart their growth." (Kimberley Chang, Algorand Foundation)”
“We are super excited to continue to support our accelerator partnership along with Eterna Capital and the Algorand Foundation and back this second cohort as part of the Algorand Accelerate program. We are in an unique market opportunity to build and create fundamental value using Algorand blockchain technology. We can't wait to work with these founders and entrepreneurs and see the amazing products, apps, platforms and services they are building.” (David Garcia, CEO and Managing Partner of Borderless Capital
As part of the Algorand Accelerate program, selected projects will receive $35,000 in seed funding from Borderless Capital and Algorand Foundation, end-to-end support across the spectrum of strategy formulation, go-to-market execution, and subject matter guidance across technological mentorship, token economics, marketing and fundraising.
Notable mentors include senior team members from Algorand Foundation, Youbi Capital, IBM, Rarestone Capital, BBVA, BlockVenture Coalition and Grin Gaming. Participants of Algorand Accelerate 2021 cohort included Folks Finance, Zest, Blockswap, Cortex, Payscript, ArtSquare, Ockhams, Smart-Chain, NetObjex, Stokr and ZTLment.
About The Algorand Foundation
The Algorand Foundation is a not-for-profit organization that has a vision of a borderless, frictionless economy built on public, decentralized blockchain technology. The Foundation envisions a wide breadth of applications being built on the Algorand protocol by a new, broader community of blockchain and mainstream developers. The Foundation is committed to facilitating this innovation in a sustainable and eco-friendly manner. For more information, visit https://algorand.foundation.
About Borderless Capital
Borderless Capital is a modern financial institution investing capital and co-building financial products that accelerate access, bootstrap adoption, and create value globally through the Algorand Borderless Economy. We do not stop with just investment. We also provide guidance and mentorship to grow our portfolio companies into successful and category leading businesses. As a thought leader in blockchain with deep expertise in the Algorand ecosystem, we advise our portfolio companies on go-to-market strategies to effectively build their network effect. In short, we leverage the synergy of our portfolio, partner network, and domain expertise to create value for everyone. For more information, visit https://www.borderlesscapital.io.
About Eterna Capital
Eterna Capital is a London-based investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support. For more information, visit www.eternacapital.com.