Startups Wanted: Accelerator Seeks Talent in Latin AmericaBy Andrea Villar | Tue, 09/14/2021 - 05:00
Whether your startup is gaining traction, it is scaling up or even if it is just an idea, Rokk3r Labs, in a joint initiative with Algorand and Borderless Capital wants you to participate in the Algorand Miami Accelerator program.
“We have discovered a massive potential for blockchain and cryptocurrency markets in Miami, Florida and all of Latin America, as well as for related businesses and talent,” the invitation says. “For this reason, we have opened a site in Miami, historically viewed as a bridge between Latin America and the United States, with an entirely bilingual program.”
The program will select 10 startups that are already using the Algorand blockchain or are planning to do so in the near future. Those that are already using blockchain will have to prove with a real use case, which may include different products such as smart contracts, tokens or blockchain applications in technologies such as NFTs and DeFi. Participating startups should also be able to develop an MVP for the demo day in Feb. 2022.
While any startup at any stage is welcome, the preferred stage of development is seed. Shortlisted companies will receive US$35,000 in seed funding, access to a 10-week accelerator program and access to a demo day with Borderless Capital and other investors in 2022. The 10-week acceleration program will include workshops, coaching sessions and one-to-one mentoring with high-profile experts who will "support the development of each project throughout the whole programs.”
Each selected project will receive a grant of US$20,000 from the Algorand Foundation and a US$15,000 investment from Borderless Capital in exchange for 3 percent equity. In addition, projects that demonstrate aptitude and potential throughout the program will be eligible for follow-on investments ranging from US$250,000 to US$1 million. Interested startups can apply through this link until October 17.