NewsAlgorand APAC Accelerator Invests $350,000 USD into 7 Rising Blockchain Startups

Algorand APAC Accelerator Invests $350,000 USD into 7 Rising Blockchain Startups

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The first cohort of startups in the APAC Accelerator are building blockchain-based solutions for defi, NFT Liquidity, blockchain exploration, loan syndicator and more.

Algorand APAC Accelerator Program, hosted by AXL Ventures, announced today that it had finalised seven early-stage startups into their first cohort. Backed by the Algorand Foundation and venture partner Borderless Capital, the program will provide funding, resources and a robust network for web3 projects to build a solid foundation for growth. As new entrants into the new Algorand ecosystem, the startups will innovate in areas including defi, NFT liquidity, blockchain browsing / exploration, loan syndication, and more.

“With the recent launch of Algorand Ventures, we aim to create continuous ecosystem impact by providing early-stage startups with the resources they need to build solid teams and products that will bring the next wave of innovation onto Algorand. We believe the seven startups in the first cohort of the APAC Accelerator Program have the potential to create massive momentum in the Algorand ecosystem, and we are looking forward to helping them grow and succeed.”

- Ryan Terribilini, Algorand Foundation Head of Ecosystem Funding


“The Algorand APAC Accelerator selection process was rigorous. We were impressed by the quality of the 100 startups that applied and are excited to work with the seven teams. With the 12-week accelerator program, we hope to bring business fundamentals to the teams, to help them build investable, scalable businesses”

- Zach Varnier, AXL Ventures Program Director.

“We are very excited to partner with AXL Ventures and the Algorand Foundation for the first Algorand APAC accelerator program. We are thrilled by the quality of the applicants, and we can’t wait to see the outcome of the program and the amazing platforms, products and innovations that these teams will deliver.”

- David Garcia, CEO and Managing Partner at Borderless Capital.

The 12-week accelerator program, started on 26th February 2023 and runs until late May 2023, features the following seven startups:

  1. Algogator
    View your complete Algorand net worth across a broad range of assets and DeFi protocols and find the best opportunities in the ecosystem tailored to your wallet.

  2. Galapago
    Galapago is an NFT liquidity protocol that lets users borrow against the value of their NFTs or lease their NFTs to others for a fee.

  3. Parcision
    Parcision is a decentralised prediction platform for financial market-related events.

  4. Kilde
    Kilde is a regulated non-bank lending syndicator in S.E Asia and MENA looking to create permissioned pools of private debt on crypto rails.

  5. Algoscan
    Algoscan is a blockchain explorer and analytics platform on Algorand.

  6. Notiboy
    Notiboy is a decentralised notification system on Algorand, which will help Dapps send notifications to users in a censorship-resistant and decentralised way.

  7. AlgoPOAP
    AlgoPOAP is the Proof Of Attendance Protocol (POAP) on Algorand with ambitions by design to elevate to a Proof Of Anything Protocol, using algorand state proofs.

These startups will each receive USD 50,000 in seed funding from Borderless Capital and Algorand Foundation, 12-week support across a wide range of business fundamentals, such as identifying product market fit and building a go-to-market strategy, and guidance through mentorship on blockchain and business topics like marketing, sales, tokenomics, and fundraising.

Notable mentors and speakers include executives from SEEK, Pera Wallet, Cega, Prismatic, Verida, RMIT University, the University of Sydney and more. The startups will also enjoy the benefits of network partners such as Google Cloud, Hubspot,  Stripe, and Entersoft. At the end of Cohort 1, there will be a grand demo day on the 31st of May.




About AXL Ventures

AXL Ventures is a strategic pre-seed accelerator that will activate the next generation of blockchain founders by deploying a program focused on the fundamentals of building scalable software businesses. Our program helps founders optimise their growth, connect to leading Algorand investors, and accelerate to excel.

For more information, visit axl.ventures

About Algorand Foundation

The Algorand Foundation is dedicated to helping fulfil 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. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solve for the "blockchain trilemma" by achieving both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.

For more information, please visit https://algorand.foundation 

About Borderless Capital

Borderless Capital is a venture capital firm focused on early-stage investing in web3 and crypto. With a portfolio of over 200 investments, Borderless has offices in Miami, Orlando, Denver, Madrid, New Delhi and Mumbai. The firm is actively making new investments out of a family of funds across EdgeFi, Algorand, and xChain Funds. Borderless has launched global accelerators across five continents and has a strong commitment to actively work with and support founders. The firm was founded by Arul Murugan and David Garcia, serial entrepreneurs turned VC investors. https://www.borderlesscapital.io/

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