Coindesk Logo
FinanceFinanceFinance

Algorand’s New Europe Accelerator to Boost Startups With Up to $500K in Funding

Algorand’s New Europe Accelerator to Boost Startups With Up to $500K in Funding

Algorand’s New Europe Accelerator to Boost Startups With Up to $500K in Funding

Startups working with Algorand's blockchain may receive up to $500,000 in seed funding through the program.

Startups working with Algorand's blockchain may receive up to $500,000 in seed funding through the program.

Startups working with Algorand's blockchain may receive up to $500,000 in seed funding through the program.

By Sebastian Sinclair
AccessTimeIconOct 15, 2020, 7:57 AM
Updated May 9, 2023, 3:12 AM
Algorand founder Silvio Micali
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Algorand Foundation has launched a Europe-focused program aimed at funding and developing startups working atop its proof-of-stake blockchain.

  • The Algorand Europe Accelerator will support early-stage startups with seed funding and encourage blockchain development in the region, according to a press release Thursday.
  • The 12-week program is funded by Eterna Capital and Borderless Capital.
  • An initial $15,000 upfront seed amount from Borderless Capital will be provided to startups entering the program.
  • That may be followed by up to $500,000 in additional investment to eligible projects from both Borderless and Eterna.
  • "Europe is crucial for Algorand's growth," said Massimo Morini, chief economist at the Algorand Foundation. "London is an important startup hub."
  • As well as funding, the program will offer developers and entrepreneurs "an array of tools and resources" for building decentralized applications.
  • Startups will also be assisted with their go-to-market execution, marketing, fundraising, token economics and general guidance.
  • Applications are currently open until Dec. 18, 2020.
  • Algorand was founded by MIT professor and Turing Award winner Silvio Micali.

STORY CONTINUES BELOW

Recommended for you:

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about
startupsAlgorandAcceleratorsCoinFlash