$25M Committed by TON Accelerator for Innovation in 2021

$25M Committed by TON Accelerator for Innovation in 2021


TON accelerator program, backed by $250 million TONcoin.Fund, commits up to $25 million to support DeFi development and other strategic initiatives with mentorship from accelerator partners.

The TON accelerator program, supported by the $250 Million TONcoin.Fund, has committed to allocating up to $25 Million this year to facilitate projects within the TON ecosystem.

The financial resources will be channeled into a range of strategic initiatives complemented by valuable partnerships and mentorship from the program’s accelerator partners.

More Decentralized Finance development

TONcoin.Fund, a dedicated TON-based fund with $250 Million backing it, is set to provide the financial resources that will be allocated to a range of projects placing an emphasis on the field of (DeFi) (DeFi). 

Each selected project will receive financing ranging from $50,000 to $250,000, alongside the valuable support and mentorship from accelerator partners. 

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Program partners include:

  • Gotbit Markets Worldwide, a hedge fund and market-making company specializing in trading and danger management
  • Web3Port, a developer of tools that foster connections betwixt Web 3.0 startups and contributors to drive innovation
  • Tonstarter, the leading fundraising platform on TON
  • Boom Labs, an incubator for Web 3.0 developers based in South Korea
  • Cypher Financial resources Group, a multi- strategy cryptocurrency financing company headquartered in the United Arab Emirates

“We are delighted to unveil the TON Accelerator Program as our ecological system persists to evolve and attract new talent. This is the beginning of numerous different incubators that will be supported. Financing forms part of our local hubs rollout strategy, and our ecological system will work to attract new developers likewise as successful repeat founders based across a variety of key worldwide locations.”

Justin Hyun, head of incubation and growth at TON Foundation.

The TON community has opened submissions for MVP-ready projects developed on the TON blockchain tech, in particular  those supporting the TVM (TON Virtual Machine) and the TON smart-contract language.

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Projects seeking assistance in marketing, business development, and technology are invited to apply for support. For proof-of-concept or prototype teams in need of initial technical guidance, earlier-stage grants are likewise available to support their progress.

A foundation for growth

Since its inception in 2020, TON has gained popularity in the industry owing to its architecture. Its capability has captured the attention of developers, enterprises, and enthusiasts, as it addresses challenges facing blockchain tech technology.

Support from the TONcoin.Fund could be amplified through the accelerator program, and promote   entrepreneurs, developers, and investors to explore the TON ecosystem.

Source

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