The popular blockchain company Algorand announced a partnership today with Eterna Capital and Borderless Capital. The three entities launched a platform for projects looking to build decentralized applications on the Algorand blockchain network called Eterna Borderless Venture Studio (EBVS).
In a press release shared with CryptoPotato, Algorand announced its newest partnership. It involves the investment company focused on blockchain technology Eterna Capital and the venture capital fund Borderless Capital.
The result is Eterna Borderless Venture Studio – the first venture studio for developers and entrepreneurs aspiring to explore Algorand’s blockchain network. EBVS will provide an array of tools and resources for creating decentralized applications and also support existing projects in transitioning to the Algorand platform.
The venture studio is seeking initial applications from startups that can receive up to $100,000 in capital from both VC companies – Eterna Capital and Borderless Capital. The latter’s flagship VC fund can also implement a follow-up investment of up to $2 million for companies emerging as leaders in their business niches.
Additionally, the new initiative has formed a robust ecosystem of partners. Those include elite student groups from prestigious universities such as the University of Oxford, the University of Cambridge, and the Imperial College of London.
Popular blockchain and PR marketing firm MarketAcross and the large Europe startup F6S are also partnering with EBVS.
Other blockchain projects have also declared interest in joining the venture studio from launch. Those are Monerium, Orion Protocol, PlanetWatch, MAX Markets, Stasis, Stonize, and SingularityNET.
The venture studio will initially focus on the European region and is likely to expand further in time. EBVS is the first step towards creating a global network of venture studios aimed at supporting the Algorand borderless economy.
According to Andrea Bonaceto, Partner at Eterna Capital, the new initiative will assist talented teams that lacked the support and funds until now. This ecosystem of industry partners will help all parties achieve success while accelerating blockchain adoption, he added.
“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. I am excited to see two thought-leading organizations come together and create a rigorous program that will support innovation and frictionless exchange on Algorand.” – said Silvio Micali, founder of Algorand.