16 April 2020
The first venture studio for developers and entrepreneurs working with Algorand, Eterna Capital, and Borderless Capital will provide an array of tools and resources for creating decentralized applications. Those selected receive up to $100K in capital from VC firms Borderless Capital and Eterna Capital. In addition to this, the flagship VC fund of Borderless Capital can enter into follow-on investment of up to $2M for those companies that emerge as category leading businesses.
Andrea Bonaceto, Partner at Eterna Capital: “We are looking forward to supporting talented teams with innovative ideas. We are creating an ecosystem of industry partners to help our portfolio companies to achieve success while accelerating the adoption of blockchain technology."
Alexey Koloskov, CEO and Co-Founder at Orion Protocol: "We are honored to become a part of the Eterna Borderless Venture Studio to support innovation in blockchain, joining an ecosystem of partners with the same goal as Orion: creating a truly decentralized fintech landscape."
Silvio Micali, founder of Algorand: "An important component of the Algorand community today is broad support for the accelerating momentum of DeFi organizations, enterprises, and governments using this next generation technology."
In addition to Orion, six other blockchain projects have joined the Venture Studio from launch including MAX Markets, Monerium, PlanetWatch, SingularityNET, Stasis, and Stonize. Leading blockchain and PR marketing firm MarketAcross and F6S, one of the largest startup ecosystems in Europe, have also joined. The venture studio has also formed an ecosystem of partners that includes elite student groups from some of the world’s most prestigious universities such as University of Oxford, University of Cambridge, and Imperial College of London.
The establishment of Eterna Borderless Venture Studio will accelerate the trajectory of startups creating valuable solutions spanning finance, exchange, custody, and more, while driving long-term adoption and growth of the Algorand ecosystem. Eterna Borderless Venture Studio will nurture outstanding projects creating the decentralized applications that will drive the next wave of adoption.
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