The Algorand Foundation, the governance and research organization behind major blockchain platform Algorand, is launching a new accelerator program in Europe.
Known as “Algorand Europe Accelerator,” the new program intends to support European developers and entrepreneurs looking to build applications on the Algorand platform.
Announcing the news on Oct. 15, the Algorand Foundation told Cointelegraph that the new program will launch in collaboration with established Algorand’s investors, Eterna Capital and Borderless Capital.
As part of the program, Borderless Capital will distribute $15,000 in upfront seed funding to ten selected projects. Successful initiatives will be eligible for up to $500,000 in follow-on investment from both Borderless Capital and Eterna Capital.
A spokesperson for the Algorand Foundation said:
“The most successful projects are eligible for $500,000 in follow-on investment […] We are not setting a predetermined number of startups that will receive this additional funding.”
The Algorand Europe Accelerator also intends to provide selected projects with expertise in areas