Algorand Foundation, Borderless Capital Launch Asia Accelerator

Algorand Foundation, in partnership with Borderless Capital, announced the launch of Algorand Asia Accelerator, a blockchain venture fund focused on Algorand. The Algorand Asia Accelerator is a native web 3.0 blockchain accelerator and investor, which is powered by LongHash Ventures.

Its goal is to boost and drive blockchain development in cooperation with Finance 3.0, enabling projects to build, grow, and advance on financial innovations in the Algorand ecosystem. Each picked project can receive $15,000 upfront seed funding and may qualify for a follow-up investment of up to $250,000.

Algorand is the creator of the first open-source, permissionless, pure proof-of-stake blockchain protocol. Established by the Turing Award-winning cryptographer Silvio Micali, the protocol eliminates the technical barriers that hinder mass blockchain adoption.

Algorand Foundation’s Chief Operating Officer, Fangfang Chen, commented on the launch of the Asia Accelerator:

“Innovation is a collaborative journey. Along with our latest grant program, which aims to distribute more than $60 million to build a vibrant ecosystem, Algorand is consistently supporting some of the most promising minds in the industry. Algorand Asia Accelerator is the natural culmination of our efforts, in particular, refining our focus on Finance 3.0 to realize the promise of a truly borderless economy.”

David Garcia, Managing Partner of Borderless Capital, also shared his thoughts:

“We are looking for the best teams and best startups developing the next generation of financial services and products on top of the Algorand network. Asia is one of the major regions where the Finance 3.0 market has been exponentially growing. In collaboration with the Algorand Foundation, LongHash Ventures, and a group of leading Asian blockchain investors, corporate partners and industry practitioners, we are committed to working together in bootstrapping the adoption of this new open finance and digital assets ecosystem, and bring it to the next level.”

Borderless Capital is a financial organization, which invests capital and designs financial products that accelerate access, bootstrap adoption, and builds value through the Algorand Borderless Economy on a global scale. The people at Borderless also provide guidance and mentorship to help to turn companies into successful businesses.

The Algorand Asia Accelerator will provide end-to-end support when it comes to forming a strategy, go-to-market execution, and subject matter guidance across technical questions, marketing, and token economics. Applications are open until August 16, 2020.

The program will go on for twelve weeks and will involve some very distinguished names as mentors. Some of the participants are the Chief Technology Officer of Tether Paolo Ardoino, Chief Scientist of Algorand Inc. Jing Chen, Chief Executive Officer and Co-Founder at Securitize Carlos Domingo, and the Managing Director at HashKey Capital Deng Chao.

Emma Cui, Co-Founder and Chief Executive Officer at LongHash Ventures, explained why such initiatives are important:

“In this tumultuous period, accelerators are an especially crucial element of venture ecosystems and blockchain infrastructure. Algorand Asia Accelerator has the rare ability to tap into both the leapfrog potential of blockchain and the consistent, resilient growth in Asia. LongHash Ventures, with our strong Asia presence and established venture building capabilities, offers strategic access into a vibrant, animated startup ecosystem.”

LongHash Ventures is a global blockchain accelerator and investor. The company is building a native web 3.0 blockchain and aims to catalyze growth for the next generation of blockchain startups.