Algorand Foundation announced today that it has launched a 12-week accelerator programme for blockchain startups called Algorand Asia Accelerator. The programme is operated by LongHash Ventures, a global blockchain accelerator and venture capital fund.
Largely focused on blockchain, Algorand Asia Accelerator will tap into innovation within Finance 3.0, a financial ecosystem designed and built on the blockchain.
The programme will run from October until January 2021 and will support the selected startups with a seed capital of US$15,000.
Other support in the form of mentorship and training will also be provided across the spectrum of strategy formulation, go-to-market execution, and subject matter guidance across technological mentorship, token economics, marketing, and fundraising.
Algorand’s notable mentors include cryptocurrency company Tether, Securitize, and blockchain-focused VC fund Fenbushi Capital.
In a press statement Fangfang Chen, COO of Algorand Foundation, said, “The ambition of our projects encapsulate the maturing trajectory of the technology, and there is an urgency for the industry to recognise 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.”
Also Read: In brief: Singapore’s blockchain accelerator Tribe goes virtual for batch 3
The selected startups for this programme are:
A platform for governing financial assets in a decentralised, secure and compliant manner.
The startup provides SDK for merchants to accept crypto.
It provides a decentralised traded fund protocol for professionals to create and manage digital native funds effortlessly.
The startup offers a full suite of DeFi (decentralised finance) products or services including a non-custodial protocol and decentralised exchange.
A settlement layer for physical gold, allows users to access physical marketplaces without ongoing custody fees.
Blockchain platform for tokenised investment in litigation and legal claims.
Blockchain company focussed on developer tools and services.
Also Read: TechCrunch founder’s VC firm leads US$3.7M in ex-Golden Gate employee’s blockchain startup Persistence
Eastern Blu Music Ecosystem
A public system for registration, licensing and distribution of royalties for all players in the music industry.
Social layer for the internet where opinions are monetised and where social capital can be measured.
A decentralised platform that allows instant payment of goods and services for retail shopping using the buy now pay later mode.
Image Credit: Algorand Asia Accelerator
The post Algorand Asia Accelerator debuts 10 blockchain startups that aim to innovate under Finance 3.0 appeared first on e27.