The acceleration program announced by the Algorand Foundation for Europe in mid-October 2020, begins this 2021 with a total of 11 European blockchain companies and startups.
La Algorand Foundation just presentar to his first cohort Algorand Europe Accelerator 2021, naming the 11 emerging companies in the technology universe blockchain, which will be part of its first acceleration programme in Europe. These companies and startups are focused on developing applications and projects related to the sectors of payments, loans, infrastructure, Internet of Things (IoT) and other digital platforms driven by networks.
According to the statement published by the Foundation on its Twitter account, the 11 companies selected for its acceleration program are located throughout Europe, with headquarters in countries such as Italy, Denmark, France, Luxembourg, Switzerland and the United Kingdom, as well as the United States and Australia.
The Algorand Europe Accelerator is the first European accelerator dedicated to blockchain technology startups, developers and entrepreneurs, capable of creating and developing decentralized applications based on the Algorand network, a blockchain that operates on the proof-of-stake protocol (Proof of Stake – PoS).
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Up to $500 in grants
As reported by Bit2me News, the Algorand Foundation acceleration program will provide grants and financing of up to $500.000 USD to selected companies, to encourage and guarantee their development and that of their projects based on blockchain technology.
Massimo Morini, chief economist at the Algorand Foundation, explained that the success of its previous acceleration program, developed in Asia, motivated the organization to continue its efforts to launch the now Algorand Europe AcceleratorThe Algorand Foundation sees the European continent as a key region for the growth and development of the new digital industry and blockchain technology. Morini also singled out London as an important “startup hub and a crucial financial centre” that will help the Foundation foster the use and implementation of its blockchain network, as well as the development and use of new decentralized applications built on this platform.
“The program will drive long-term adoption and growth of the Algorand ecosystem and accelerate the journey of startups building valuable solutions spanning payments, lending, infrastructure, IoT and network-powered.”
Active until April 2021
The European acceleration program started on February 1st and will support selected blockchain companies and startups in their growth, development and consolidation for a period of 12 weeks, ending at the end of April, as indicated by the Algorand Foundation. The selected companies include: ZTLment, Payscript, Smart-Chain, Blockchain Italia, STOKR, Blockswap Network, Ockams, Cortex, Kontinuous, ArtSquare.io and NetObjex.
At the end of this acceleration program, each of the participating companies will have developed a solution based on the Algorand blockchain for specific use cases. For example, ZTLment will present a payment infrastructure solution to help SMEs optimize and overcome barriers related to cross-border trade. Blockchain Italia will be in charge of presenting a software house that will innovate in the decentralized finance ecosystem (DeFi), creating a lending protocol on Algorand. For its part, NetObjex will make use of IoT to develop a data marketplace platform dedicated to smart cities and connected businesses. This platform will allow tracking and monitoring digital assets through the use of IoT, Artificial Intelligence (AI) and Blockchain technologies.
The Algorand Foundation received over 200 applications to participate in this program. It also announced that each of the 11 selected companies will receive $15.000 USD as seed funding for their blockchain projects.
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