Introduction: AXL Ventures and Why They are Launching an Algorand Accelerator
Singapore, Tuesday, September 27th, 2022 - AXL Ventures, located in Australia, was created to launch innovative accelerator programs for the Algorand ecosystem. Created and supported by Optio Capital, AXL is perfectly positioned to help the next wave of startups accelerate to excel.
Algorand is a powerful L1 blockchain that provides the technical foundation and performance to unlock tremendous advances in verticals like global financial infrastructure and its associated products and services.
Queensland, Australia was a natural choice for the accelerator having a very supportive and forward-thinking Government, while also being a central “hub” for blockchain technology and innovation. While the accelerator headquarters are located in Australia, the program is remote for startups in the APAC region building on Algorand.
AXL’s Commitment to Supporting Startups in Australia and Beyond with Resources and Funding
AXL has committed to deploying 4 Algorand accelerator programs over 3 years with the goal of investing and accelerating up to 48 startups over that time.
The first cohort of the accelerator will begin in late January 2023 and run for 12 weeks. Each cohort will be between 10-12 companies.
Each startup will have access to a network of well connected industry experts who can help them navigate complex topics ranging from token economics to building scalable infrastructure. AXL will match mentors to companies. In addition to mentors, startups will engage closely with the Program Director on a weekly basis to address tactical challenges and track progress.
The program will culminate in a pitch day where cohort startups will have the opportunity to meet a breadth of investors with the potential to raise follow-on financing.
AXL Ventures is Focused on Investing in Global and Mass Market Use Cases
“We’re at a point now where mainstream blockchain adoption is starting to accelerate. We know the next generation of blockchain startups will solve for mass market use cases that make the technology as seamless as our infrastructure today. Algorand is the perfect L1 technology to nurture these types of projects, especially those building in the realm of global finance. AXL Ventures is laser focused on igniting this crucial wave of projects that will undoubtedly onboard the next billion users to the blockchain.”
- Michael Hofweller, Accelerator Program Director at AXL Ventures
Applications are Open Now
Applications are open as of September 27th 2022 and will remain open until October 31, 2022. Shortlisted companies will be interviewed and selected on a rolling basis through October and November 2022 with capital committed by early December 2022.
The accelerator program will begin in late January 2023 and run until late April 2023. This is the criteria AXL will use to evaluate projects.
- Why Algorand?
- Problem space.
- Team expertise and camaraderie.
- Market size.
Head over to axl.ventures to read about the program, get in touch with the team, and apply.
"The team at Optio Capital have been an integral part of the Algorand ecosystem since day one. From various Meld-backed companies to acting as mentors in previous accelerator programs, AJ, Michael, and their colleagues are strong and passionate advocates for builders and entrepreneurs pushing the next generation of Algorand infrastructure and applications. We couldn't be more excited to kick off an Australia/APAC focused accelerator program with them in early 2023!"
- Ryan Terribilini, Head of Ecosystem Funding at Algorand Foundation
"We are very excited to continue our commitment of building an exceptional ecosystem of innovative companies inside Algorand. Deploying a series of 4 accelerators over 3 years with the support of the Algorand Foundation was a natural next step for us to focus on fostering long-term adoption. We believe strongly in the technology and community behind Algorand and are excited for what 2023 will unlock.”
- AJ, Michael & Dustine, Optio Capital
About The Algorand Foundation
The Algorand blockchain — designed by the MIT professor and Turing Award winning cryptographer Silvio Micali — 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 solves for the “blockchain trilemma” by achieving both security and scalability on a decentralised protocol, and without a second of downtime since it went live in 2019.
The Algorand Foundation is dedicated to helping fulfil the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralised governance, and healthy and prosperous open-source ecosystem. For more information, visit https://algorand.foundation
About Optio Capital
Optio Capital is a global investment firm dedicated to backing the next wave of blockchain entrepreneurs. We support bold innovative projects across multiple industries including Infrastructure, DeFi, Supply Chains, Commodities, NFT’s and Finance.