Algorand and BFG’s Partnership: Accelerating The Best Web3 Startups

Blockchain Founders Group and Algorand have entered into an partnership to provide financial support. Algorand Ventures is committed to provide funding alongside BFG to support top builders, to ultimately enhance the growth and development of outstanding projects for the Algorand ecosystem. - Author: Dominik Peer

TL;DR:

• Get funding of up to €120k.
• Build your project within the Algorand ecosystem.
• Program offerings: startups gain mentorship, technical support, and marketing opportunities.
• Focus on seed-stage startups: registrations open until 10 March, 2024

About the Partnership - Blockchain Founders Group x Algorand

Algorand is partnering with the Blockchain Founders Group to launch a specialized accelerator program, focused on supporting projects that are developing within the Algorand ecosystem. This collaboration provides substantial financial support to participating projects, offering them the chance to receive a €120k financial support after completing the program, with the funding jointly provided by BFG and Algorand.

"We're excited to embark on this journey with Algorand for our upcoming accelerator program.  Algorand's groundbreaking Layer1 technology, known for its speed, cost-effectiveness, and continuous operation, makes it an ideal platform for developing scalable and sustainable blockchain applications. We are confident that this partnership will provide the best web3 startup teams with the resources they need to build solutions that embody the true potential of a borderless global economy."

- Max Zheng, Director of Investments at BFG

Ryan Terribilini, EVP at Algorand Ventures, says:

“BFG's proven track record in incubating and accelerating early-stage web3 startups aligns seamlessly with our commitment at Algorand Ventures. This collaboration with BFG shows our commitment to empowering promising Algorand ecosystem projects, offering them unparalleled support and growth opportunities. Together, we're set to unlock new possibilities and further solidify our position at the forefront of blockchain innovation.”

Why join Season 5?

Following the successful completion of Season 4, this collaboration marks a significant enhancement to our offering. Participants in Season 5 will now benefit from the combined strengths of both BFG and Algorand. 

From BFG's side, startups can look forward to 

• Weekly tactical workshops
• Designated lead mentor
• Intense 1:1 meetings on-demand

Algorand, on the other hand, brings its unique advantages to the table, offering startups:

• Access to ecosystem funding decision makers
• Access to potential ecosystem technical support
• Joint marketing opportunities if we provide funding

Who this accelerator program is looking for:

Our accelerator program seeks teams that have achieved certain milestones and meet the following criteria:

• Applicants must possess a compelling idea, a dedicated team, and ideally, an established company. (Having initial paying customers is not a requirement.)
• Various focus areas are considered, including Real World Asset Tokenization, DeFi, DeSci, Web 2.5, among others.
• Most importantly, the teams must be committed to building within the Algorand ecosystem.

Learn more about the program and apply here

https://blockchain-founders.io/startup-accelerator-bfg-x-algorand

Application deadline is March 10, 2024.

About the Algorand Foundation

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem. Designed by MIT professor and Turing Award winning cryptographer Silvio Micali, Algorand is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. For more information, please visit https://algorand.foundation 

About Blockchain Founders Group

Blockchain Founders Group (BFG) is a company builder and early-stage venture capital backer. Our team comprises academic and regulatory drivers of the blockchain economy, serial entrepreneurs, and venture capitalists. We love to work with outstanding entrepreneurial talents and bring to bear the full support of our network to make them succeed. 

About the BFG x Algorand Program

The BFG x Algorand Program is an accelerator designed for seed-stage blockchain startups, ready to scale their ventures. Over a six-week period, participants engage in intensive mentorship and strategic business development, with the goal of accelerating growth and enhancing investment readiness. Catering to startups with valuations typically under €1 million, the program provides essential resources and access to a network of industry experts and investors, setting these startups on a path to success in the blockchain market. More information about the program can be found here.

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Contact: Max Zheng, Director of Investments, max.zheng@blockchain-founders.io