Projects in the Finance 3.0 cohort will each receive USD$15,000 in seed funding
Singapore - 19th October 2020 - Algorand Asia Accelerator by Algorand Foundation, the steward of the world’s first open-source, permissionless, pure proof-of-stake blockchain protocol, and Borderless Capital, the Algorand-focused blockchain venture fund, announces the launch of its program with its introductory debut of ten startups. Powered by LongHash Ventures, this year’s cohort has been selected to encourage innovation within Finance 3.0, the more open, permissionless, and efficient financial ecosystem designed and built on blockchain.
Commenting on the program launch, Fangfang Chen, Chief Operating Officer at Algorand Foundation, said, “We cannot be more excited to debut our first cohort at what is becoming a critical moment for blockchain. The vim and ambition of our projects encapsulate the maturing trajectory of the technology, and there is an urgency for the industry to recognize and meet these needs in tandem. Algorand is well-positioned to empower these startups as they take the next step to realize the promise of Finance 3.0, whether it be the strength of our technology, community or network.”
The 12-week accelerator program, which starts 19 October 2020 and runs until January 2021, features the following ten startups:
“We’ve been very impressed with the calibre and potential of the more than 150 applications received, and even more so with the ten that made the final list. Finance 3.0 holds tremendous possibilities for startups who are prepared to take on the challenge, and each project in this cohort has something new and incredible to contribute to the table. It is with great anticipation that we extend every support to bolster and propel their growth journey throughout the duration of this program.” David Garcia, Managing Partner of Borderless Capital, added.
Algorand Asia Accelerator provides selected projects USD$15,000 in seed funding, with 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 Tether, Securitize, and Fenbushi Capital.