Algorand will allocate grants to startups and app developers

Algorand will allocate grants to startups and app developers

The Algorand Foundation has launched the Algorand Europe Accelerator program, which will provide grants to startups and developers of applications based on the Algorand blockchain.

As the name suggests, the program is intended for companies from Europe. The foundation is already accepting applications for the grant, and in general, the program will last 12 weeks. Funding for the grants was provided by Eterna Capital and Borderless Capital. Companies entering the program will receive $15,000 each, and the maximum amount of grants is limited to $500,000. In addition, additional funding from sponsors is possible.

“Europe is a critical region for Algorand’s growth, and London is a major innovation hub,” said Massimo Morini, chief economist at the Algorand Foundation.

In addition to the accelerator grants, developers will have access to a “set of tools and resources” for creating decentralized applications. Also, if necessary, entrepreneurs will be able to get advice on launching the application on the market, additional investments, issuing tokens and other aspects of the development of their projects.

In August, the developers of Algorand added
the ability to deploy smart contracts with the fixation condition. This feature is useful for developers of decentralized applications.